British banks set to hand out hundreds of millions in staff bonuses February 6, 2021 Britain’s largest banks are finalising plans to hand out hundreds of millions of pounds in staff bonuses next week, at the same time loan losses are expected to catapult during the pandemic. Taxpayer-backed lender Natwest Group has informed the Treasury that it is poised to distribute more than £200m in staff bonuses for 2020. The [...]
Barclays CEO on the future of the City: ‘Forget Frankfurt and Paris’ February 5, 2021 Jes Staley, the CEO of Barclays, has said the UK financial services industry should focus on competing with the US and Asia, rather than the EU. Staley reportedly said that although jobs that would have been created in the Square Mile may have been moved to the EU, Brexit has given one of the UK’s [...]
Ex-Barclays GC takes bank to court January 27, 2021 Judith Shepherd, a former general counsel at Barclays Capital, has filed a claim against her ex-employer in the High Court. Fox Williams, acting on behalf of Shepherd, lodged a claim in the Commercial Court on 22 January against Barclays PLC, Barclays Bank and Barclays Execution Services, The Lawyer reported. Law firm Simmons & Simmons has [...]
Barclays boss Jes Staley: working from home ‘not sustainable’ as collaboration and culture take a hit January 26, 2021 Barclays boss Jes Staley says working from home 'not sustainable' as collaboration and culture take a hit
UK sustainable finance bond issuance climbs to £10bn in 2020 January 25, 2021 UK sustainable finance bond issuance hit a record of £10bn in proceeds last year, raising double of what was raised in a far less turbulent 2019, Refinitiv data found. The UK ranked sixth in Europe and ninth in the world for sustainable finance issuance, achieving multiple record highs thanks to sovereigns, multilaterals and banks pushing [...]
Elon’s twitter, record borrowing and Zoom stocks: City A.M.’s Business Quiz of the Year (Part 1) December 18, 2020 It’s been a… strange year. But there have been some lighter, albeit somewhat baffling, moments in the business world. See if you can remember the highs and lows of 2020, from Barclays behaving badly to the aftermath of Carlos Ghosn’s daring escape – and look out for part 2 before the end of the year.
Barclays chair quits in boardroom shakeup December 18, 2020 Barclays UK chair Sir Ian Cheshire will step down at the start of next year, in a sudden departure after three years at the helm. In a statement, the company said: “With regret, Sir Ian has informed the group that he is unable to accommodate the increased time commitment and duration required to see through [...]
Barclays fined £26m for mistreatment of customers in arrears December 15, 2020 The UK’s financial watchdog has fined Barclays £26m for failures in its treatment of customers who fell into financial difficulties. The Financial Conduct Authority (FCA) found that Barclays had mistreated some retail and small business customers who fell into arrears between April 2014 and December 2018. Read more: Parlez-vous Français? Paris’ finance sector gets ready [...]
Sunday’s shopping surge beats Black Friday to largest shopping day of the year December 8, 2020 In what will be seen as a big boost for retailers, this past weekend has beaten Black Friday to the current crown of busiest shopping day of the year so far. This follows data released by Barlcayard Payments, which processes nearly £1 in every £3 spent in the UK, revealing that this weekend was the [...]
Barclays fossil fuel financing increases despite ‘net zero’ pledge November 11, 2020 Barclays has increased its financing of fossil fuel firms despite setting a ‘net zero’ goal for itself earlier this year following investor pressure, according to a new report. The bank, which is Europe’s largest fossil fuel financer, provided $24.58bn (£18.55bn) in underwriting and lending to major fossil fuel companies between January and September this year. [...]