Barclays and Bank of Ireland sued over film finance tax evasion scheme February 26, 2019 Barclays and Bank of Ireland are being sued as part of a £180m lawsuit brought by investors in a film finance scheme the pair were involved in. Investors in the Eclipse film financing scheme lost out after tax authorities ruled the vehicle, which purported to invest in Disney films, was actually a tax avoidance scheme. [...]
Ex-Barclays Bank chairman Sir Gerry Grimstone to chair Investcorp and Aberdeen Standards joint venture February 26, 2019 Former Barclays Bank chairman Sir Gerry Grimstone has been appointed chairman of Investcorp and Aberdeen Standard’s gulf infrastructure investment joint venture. Grimstone, who stepped down from his role at Barclays investment arm on Friday, is rejoining Standard Life Aberdeen after resigning as chairman in January this year. Read more: Chairman of Barclays' investment banking arm [...]
Barclays rallies as shareholders promised more February 25, 2019 | City Talk In a bear trend since 2007, Barclays has won over the market with this update, at least temporarily. These numbers from Barclays (LSE:BARC) have been well received on the basis of "jam tomorrow", as the high street bank continues to suffer from litigation and conduct fines, whilst growing strongly excluding these charges. The increase to [...]
Serious Fraud Office drops probes into Rolls-Royce and GSK February 22, 2019 Britain’s corruption watchdog closed the curtains on major probes into Rolls-Royce and GlaxoSmithKline (GSK) this morning. The Serious Fraud Office (SFO) said today that it is closing its investigations into both the car maker and the pharmaceuticals giant. The long-standing investigation into Rolls Royce, which centred around bribery and corruption to win business in countries [...]
Barclays profits slip as bank sets aside £150m for Brexit February 21, 2019 Profits missed estimates at Barclays last year, the bank revealed today, as it set aside £150m for Brexit and paid out billions of pounds in misconduct and litigation charges related to its role in the financial crisis. Read more: Ex-Barclays chair Agius tells court he was unaware of £280m Qatar deal The figures Profit before [...]
Former Barclays chair Marcus Agius tells court he was unaware of £280m agreement with Qatar February 20, 2019 Former Barclays chair Marcus Agius told a court in London today that he was unaware of an agreement by the bank to pay Qatar £280m as it embarked on an emergency fundraising at the height of the financial crisis. The Serious Fraud Office has charged former Barclays chief executive John Varley and senior bankers Richard [...]
Ex-Barclays chairman Marcus Agius testifies in Qatar fundraising fraud trial February 19, 2019 Former Barclays chairman Marcus Agius appeared as a witness at Southwark Crown Court today in the historic trial of four senior bankers accused of fraud for their actions at the height of the financial crisis. Agius is the first heavyweight banker to appear as a witness in a trial connected to the 2008 crash, more [...]
Former Barclays chair will appear at SFO fraud trial February 18, 2019 Marcus Agius, the former chairman of Barclays, is set to appear as a witness for the prosecution at the high-profile trial of four of the bank’s former executives on fraud charges. Agius quit the bank nearly seven years ago over its role in the Libor-rigging scandal. He will be called on by the Serious Fraud [...]
Mark Kleinman: Aviva’s missed deadline ensures brickbats February 15, 2019 Viva Aviva? For such a stalwart of blue-chip boardrooms, Sir Adrian Montague suddenly can’t put a foot right. Four years after taking over the chairmanship of Aviva when John McFarlane scuttled off to Barclays, he’s ended up in a rather large pickle of his own making. Sacking Mark Wilson as the insurer’s chief executive last [...]
Ex-Barclays trader accused of Euribor rigging felt ‘let down and used’ by private messages February 11, 2019 A former Barclays employee on trial for Euribor rigging has said he felt "let down and used" when he discovered that a colleague had been privately discussing with another trader at a rival bank how they could alter submissions for the interest rate benchmark. Colin Bermingham, 62, told Southwark Crown Court he felt it was "absolutely not right" that [...]