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 [...]
Barclays sued for dark pool securities fraud: What is a dark pool? June 26, 2014 Barclays in the US is being sued for fraudulent behaviour, following a complaint filed by New York attorney general Eric Schneiderman. He claimed that the bank had misrepresented the participants of its dark pool, leaving institutional investors exposed to high frequency trading “predators”. A dark pool is a covert trading location where all trades are anonymous [...]
Barclays hit as New York initiates dark pool lawsuit against bank June 25, 2014 BARCLAYS was slapped with a lawsuit by a US state yesterday, with New York attorney general Eric Schneiderman accusing the bank of a “disturbing disregard for its investors”. The case concerns Barclays’ dark pool operation, which the attorney general says favours high-frequency traders, who have been given “systematic advantages” by the bank. Schneiderman also alleges [...]
Barclays voice recognition to kill telephone banking passwords June 23, 2014 Barclays is introducing voice recognition for users of its telephone banking service in a move that could abolish passwords. The bank is using a system of voice biometrics, already used by customers in its high net worth banking arm, which it will roll out to 12m retail customers next year. The system works by storing [...]
Barclays set for Premier League sponsorship challenge June 23, 2014 The English Premier League is set to open up its sponsorship to bidders for the first time in 12 years, putting Barclays at risk of losing branding rights when its existing sponsorship ends at the close of the 2015-2016 season. Barclays currently pays £40m a year for the sponsorship, but Premier League clubs have voted [...]
Barclays fears tech firms could replace banks June 10, 2014 BANKS must continue to invest in new technologies and customer service if they want to avoid being replaced by firms such as PayPal and Amazon, Barclays’ boss said yesterday. Chief executive Antony Jenkins said customers were increasingly happy to manage their finance online and banks must give them a reason to stay with traditional lenders [...]
Barclays fears Amazon and Google threaten traditional banks June 10, 2014 Customers will soon use tech firms like Amazon, Google and PayPal instead of banks, Barclays’ chief Antony Jenkins said today, promising to innovate more to compete with digital giants. The sector is already being shaken up by new banks being established, and big firms like Tesco offering current accounts. But Jenkins believes the [...]