Barclay brothers receive offers over £1bn for Ritz Hotel March 4, 2020 Sir Frederick Barclay, the billionaire co-owner of the Ritz, has received bids for the 114-year-old hotel exceeding £1bn, according to reports. Press Association said that Frederick Barclay, who owns the Mayfair hotel with his brother David, will not accept a lower offer. The twin brothers, who bought the Grade II listed property for £75m in [...]
Jupiter adds to pressure on Barclays over fossil fuel financing March 3, 2020 Jupiter Asset Management has backed a landmark shareholder resolution calling on Barclays to stop financing fossil fuel producers that are not aligned with the Paris Agreement climate goals. Jupiter, which is one of Barclays’ top-25 shareholders, has joined 11 other institutional investors and over 100 individual shareholders in backing the motion, which is thought to [...]
Greenpeace targets Barclays branches over fossil fuel financing March 2, 2020 Greenpeace activists have targeted almost 100 Barclays bank branches this morning in protest over the bank’s financing of fossil fuel companies. Some 29 branches in London are affected, according to Greenpeace, with activists disabling many of the branches’ lock mechanisms so they are unable to open as usual. Campaigners are demanding the banking giant — [...]
Activist investor demands removal of Barclays boss Jes Staley over Epstein links March 2, 2020 Barclays should remove chief executive Jes Staley from its board over his ties to convicted paedophile Jeffrey Epstein, according to activist investor Sherborne. In a letter to shareholders, Sherbone, which is led by Edward Bramson, said the decision by Barclays’ board to nominate Staley for reelection amid an ongoing regulatory investigation was “ill advised”. Sherborne, [...]
From Russia with kefir: How Biotiful Dairy sold a new drink to the British public March 2, 2020 How do you convince the British public to try a whole new food category, especially when it doesn’t sound very appealing at first glance? That was the challenge facing the Russian-born entrepreneur Natasha Bowes when she decided to try to start selling kefir in the UK. Kefir is a type of fermented milk drink made [...]
Legal firms call for reform of Serious Fraud Office after ex-Barclays execs acquitted February 28, 2020 Law firms have called for reform of the Serious Fraud Office (SFO) today after three former Barclays executives were cleared of financial crisis-era fraud to save the bank. Roger Jenkins, Thomas Kalaris and Richard Boath were all acquitted of charges of conspiracy to commit fraud by false representation in connection with the 2008 Qatar fundraisings. [...]
Ex-Barclays bankers cleared of £4bn Qatar financial crisis fraud after SFO probe February 28, 2020 A jury today cleared three former Barclays executives of committing financial crisis-era fraud to save the bank from a bailout. Roger Jenkins, Thomas Kalaris and Richard Boath were all acquitted of charges of conspiracy to commit fraud by false representation in connection with the 2008 Qatar fundraisings. They had all denied the charges, which the [...]
StanChart lowers growth target over coronavirus and economic slowdown February 27, 2020 Standard Chartered has reported a 46 per cent jump in annual profit, but warned that operating income growth would be lower than expected this year due to the impact of the coronavirus epidemic in key Asian markets. The figures StanChart’s statutory pre-tax profit jumped 46 per cent to $3.7bn (£2.9bn) in 2019, up from $2.6bn [...]
Metro Bank shares plumb new depths after challenger bank swings to £131m loss February 26, 2020 Metro Bank will slash its growth plans after plunging to a £131m pre-tax loss in 2019, a devastating year in which an accounting scandal sent shares plunging and led to an exodus of the bank’s top brass. Shares in the company fell as much as 19 per cent in morning trading to an all-time low [...]
Jury retires to consider verdict in landmark fraud trial of ex-Barclays bankers February 26, 2020 The jury today retired to consider its verdict in the trial of three ex-Barclays bankers accused of fraud in relation to two emergency financial crisis fundraisings. Roger Jenkins, Thomas Kalaris and Richard Boath have been charged with conspiracy to commit fraud by false representation and fraud by false representation in connection with the 2008 fundraisings [...]