Customers complain after Barclays system failure July 4, 2014 This afternoon, customers of Barclays bank were unable to withdraw cash from machines or use their online banking service. The problem, which is thought to have arisen at around 3pm, has resulted in a surge of complaints on Twitter. In response, Barclays bank posted a tweet letting customers know that they were dealing [...]
St Antony tells Barclays executives to go back to school to avoid fresh scandals July 3, 2014 HUNDREDS of managing directors are going back to school for courses on compliance, risk and crime prevention, Barclays announced yesterday, in the wake of a series of scandals which have devastated the bank’s reputation. Barclays is spending tens of millions of pounds on a new tie-up with the Cambridge Judge Business School. It hopes all [...]
Silicon Roundabout guru Tim Luke back to Barclays’ investment bank July 1, 2014 Top technology analyst Tim Luke is heading back to Barclays this month, the bank announced last night, after three years as an adviser to Prime Minister David Cameron. Luke has been re-hired by the bank as managing director and vice-president of technology, media and telecomms (TMT) in New York. He worked at Lehman Brothers and [...]
Barclays paid corporation taxes worth 53 per cent of 2013 profits June 30, 2014 Barclays paid tax of 53 per cent on its profits last year, according to data published today. It made a pre-tax profit of £2.87bn, but paid corporation taxes of £1.56bn across the world. British taxes were only a small proportion of that – it reported profits of £4.87bn in the UK but corporation taxes of [...]
Barclays case to shine more light on dark pools June 30, 2014 DARK pools could be forced to publish more information to investors following the claims made against Barclays in the US, a top finance professor has predicted. The private exchanges can benefit investors by limiting the amount of information published, allowing them to keep their investment decisions quiet and avoid moving markets with big sales or [...]
Barclays’ Antony Jenkins must show dealmakers some love June 30, 2014 On the day that Barclays felt the full brunt of allegations about its so-called “dark pools” from a New York attorney general, its corporate finance arm in Europe was reporting a significant success. The London Stock Exchange (LSE) announced a merger deal and with it a near £1bn rights issue, solely underwritten by Barclays. This [...]
Barclays’ Antony Jenkins under fire as share price plunges 6.52 per cent June 26, 2014 Barclays shares dived yesterday as shareholders panicked that the lender could face another huge legal bill over claims it lied to investors using its dark pool trading facilities. It is the latest in a series of scandals hitting the bank, and these claims are particularly damaging as the alleged wrongdoing occurred on the [...]
What is a dark pool? And what is Barclays accused of? June 26, 2014 Q What is a dark pool? A Dark pools are private exchanges where access to transactions is tightly limited, and information on the trades is not made publicly available. Q Why would anyone use that? Are they popular? A They are increasingly popular – around 40 per cent of US equity trades go [...]
Boris Johnson’s Barclays bikes could be getting an animal print paint job June 26, 2014 When Barclays hands over the reins of its Boris Bike sponsorship next year it could well be passing them to an east London toy maker. TellTails is hoping to raise £37.5m on crowdfunding site Indiegogo to give each bike an animal print paint job and tail. We think they’re rather fetching… From the [...]
London Report: FTSE flat as Barclays fall is countered by housebuilder climbs June 26, 2014 BARCLAYS Bank’s shares plummeted 6.5 per cent yesterday as the FTSE index ended flat despite a rally in housebuilders on Bank of England comments. The FTSE 100 closed on 6,735.12 up 0.02 per cent or 1.5 points. The market was also underpinned by the London Stock Exchange Group, which surged 6.1 per cent after unveiling [...]