Barclays’ online and telephone banking services go down September 20, 2018 Barclays today became the latest major lender to experience a systems failure, with millions of customers unable to access online banking, telephone banking, as well as some branch services at the time of writing. Problems began this morning, the bank said, although it remained unclear when they first started. The affected services were unavailable for [...]
Former Barclays trader Jay Merchant jailed for Libor rigging deported to India September 18, 2018 One of the first bankers jailed for Libor rigging has been deported to India, City A.M. can reveal. Indian-born Jay Merchant was the most senior of a group of Barclays bankers sentenced for manipulating the benchmark – used to set borrowing rates for trillions worth of loans and derivatives – following an 11-week trial at Southwark [...]
Former Barclays boss Bob Diamond claims banks are too risk-averse since financial crash September 13, 2018 The former boss of Barclays, Bob Diamond, has said that banks are too risk averse in today's post-financial crash environment. Diamond, who was once described as the "unacceptable face of banking" by Labour minister Peter Mandelson, took a different tone ahead of the 10-year anniversary of the Lehmans Brothers collapse on Saturday. "The culture of banking [...]
John McFarlane to staff: Leaked memo says Barclays needs to make “tough calls” to push up shareholder returns September 8, 2015 It's been just a couple of days since the traditional back to work season kicked off and already Barclays' boss John McFarlane has ruffled a few feathers with a memo sent to staff hinting at a cull. In a welcome back note sent to all Barclays staff this morning, City A.M. understands that the man famously [...]
Barclays offloads UK loans portfolio to Goldman Sachs-led consortium September 7, 2015 Barclays continued its asset sell-off yesterday, offloading its UK secured lending arm to a consortium led by Goldman Sachs. Since chief executive Antony Jenkins was replaced in July, the bank has picked up the pace of its cost-cutting under chairman John McFarlane. Earlier this month, it sold most of its Portuguese business, representing a £1.7bn [...]
Barclays sells UK secured lending portfolio September 7, 2015 Barclays has sold off another of its non-core assets, just days after offloading most of its Portuguese business. The bank has now sold its UK secured lending portfolio to a group led by Goldman Sachs for an undisclosed sum, which it said would reduce its risk-weighted assets by £1.2bn and improve its capital ratio. Read [...]
UK pensions deficits: FTSE 100 firms fear pension pain as workers retire September 6, 2015 Pension schemes represent a “material risk” for many of the largest companies in the FTSE 100, new research shows. Six firms, including BAE Systems, British Airways-owner International Airlines Group, RSA and Royal Bank of Scotland, all have total disclosed pension liabilities almost double their equity market value, so says JLT Employee Benefits’ quarterly report [...]
Barclays share price rises as it confirms sale of Portuguese assets September 3, 2015 Barclays confirmed this morning it will sell its Portuguese non-core assets – including its retail banking, wealth and investment businesses, as well as the small business arm of its corporate banking business – to Bankinter. It will also sell its insurance business in the country to Bankinter's insurance subsidiary, which operates a joint venture with [...]
August Bank Holiday 2015 blues for Barclays, RBS and NatWest staff as local branches stay open August 27, 2015 In these modern times of accessibility and 24-hour contact, is the Bank Holiday becoming part of Britain’s history more than a cultural event? Three lenders were excited to announce the desecration of the sacred so-called bank holiday weekend by opening branches across the country. While execs and chairs head off to their homes in the [...]
Fed policymaker Dennis Lockhart says US interest rates should be raised this year August 24, 2015 A senior Fed policymaker has called for US interest rates to be raised this year, despite the panic that has hit global markets over China's economy. Read more: Black Monday 2015: US stocks battered in biggest fall since 2011 Dennis Lockhart, President of the Federal Reserve Bank of Atlanta, said in a speech today [...]