Barclays rolling out contactless payment wristband next month June 9, 2014 BARCLAYS will launch a contactless payments wristband for consumers in 2015, called bPay, with trials of the wearable technology starting at sponsored events this year. The company hopes that the device will encourage cash-free payments as consumers increasingly turn to card and contactless payments. The British Summer Time music festival in Hyde Park will be [...]
Barclays fined £26m over failure to manage conflict of interest May 23, 2014 The Financial Conduct Authority (FCA) has fined Barclays £26m for failing to manage conflicts of interest between itself and its customers, as well as systems and control failings, in relation to the London Gold Fixing. The Gold Fixing is a price-setting mechanism which gives market users the chance to buy and sell gold at a [...]
Barclays upbeat on brent crude as geopolitical risk keeps prices buoyant May 20, 2014 The Organisation of Petroleum Exporting Countries (Opec) gave a cheerful outlook on the oil market in its latest monthly report, and now Barclays is getting in on the act. Research today from the FTSE 100 bank said that it expects the brent oil price to stay above $105 (£62.40) per barrel on average this year [...]
Barclays resigned to shrink investment arm May 11, 2014 BARCLAYS has to focus on a smaller, more profitable investment bank, rather than aiming to be a giant player, boss Antony Jenkins admitted yesterday. “Investment banking has changed significantly – size itself is not really the objective,” he told the BBC’s Andrew Marr.
Bottom Line: Barclays is moving to the post-crisis age May 8, 2014 BARCLAYS came through the 2007-08 global financial crisis in relatively good shape, tapping up investors across the world to stay afloat rather than sinking like RBS or Lloyds. But there was no way it could keep on playing as it did in the boom years – weak markets hit profits and investors became more aware [...]
London Report: Morrisons forecast and plans for cuts at Barclays lift FTSE May 8, 2014 BRITAIN’S top shares neared nine-week highs yesterday led by Barclays after it announced a revival plan, while investors also welcomed the possibility of more stimulus steps from the European Central Bank in June. Barclays was the standout gainer on the FTSE 100, up 7.9 per cent after it announced 19,000 job cuts in the next [...]
Why Barclays thinks investors need to go for diamonds May 8, 2014 Barclays is feeling pretty positive about the possibilities diamonds are offering investors. With the tide turning when it comes to Chinese growth, a strong dollar and worries over the health of emerging market economies, diamond demand is resurging, it says. Demand growth for diamonds arrives relatively late in an economic cycle, post job creation [...]
That bonus hike was all part of Barclays’ grand plan May 8, 2014 Remember when Barclays increased investment bankers’ bonuses even as profits fell? It went down pretty badly with investors when the 2013 results were announced back in February. At the time chief executive Antony Jenkins could only say that he had to pay more so that staff would stay at Barclays instead of jumping [...]
Barclays to slash 20,000 jobs May 8, 2014 Barclays shares are up three per cent as the bank confirmed plans to cut up to 20,000 jobs, equivalent to 15 per cent of the workforce. 14,000 jobs are set to go this year, higher than the 10-12,000 than was expected. Roughly half of these positions are in the UK. A further 7,000 jobs at [...]
Barclays profits tumble on eve of big shake-up May 6, 2014 PLUNGING investment banking revenues dragged down Barclays’ profits in the first quarter of the year, the bank said yesterday. The bank is due to announce a range of reforms tomorrow, which is likely to include the creation of a bad bank to run down underperforming units. Barclays is also expected to cut back on investment banking [...]