Barclays Bank chairman Sir Gerry Grimstone to step down later this month February 22, 2019 The chairman of Barclays’ investment arm Sir Gerry Grimstone will step down at the end of the month, the bank said today. Grimstone, chairman of Barclays Bank PLC – the group’s non-ring-fenced investment banking wing – has been a member of the bank’s board since 2016 and will also step down as a non-executive director. [...]
Serious Fraud Office drops probes into Rolls-Royce and GSK February 22, 2019 Britain’s corruption watchdog closed the curtains on major probes into Rolls-Royce and GlaxoSmithKline (GSK) this morning. The Serious Fraud Office (SFO) said today that it is closing its investigations into both the car maker and the pharmaceuticals giant. The long-standing investigation into Rolls Royce, which centred around bribery and corruption to win business in countries [...]
Theresa May tells quitting MPs the Conservative Party is not ‘warped’ like Labour February 21, 2019 Theresa May has insisted the Conservative party has not become “warped” after three resigning MPs accused it of being in the control of zealots. In an open letter to Anna Soubry, Sarah Wollaston and Heidi Allen – all of whom quit the Tories on Wednesday – the PM rejected any comparisons between her party and [...]
Tories and Labour brace for more defections to Independent Group as Brexit patience wears thin February 21, 2019 The newly formed Independent Group could soon be welcoming more disaffected Labour and Tory MPs as a number of senior figures took to the airwaves to warn of more resignations. Former Tory MP Heidi Allen, who resigned from the party yesterday along with Remain-supporting colleagues Anna Soubry and Sarah Wollaston, told ITV last night that [...]
Barclays profits slip as bank sets aside £150m for Brexit February 21, 2019 Profits missed estimates at Barclays last year, the bank revealed today, as it set aside £150m for Brexit and paid out billions of pounds in misconduct and litigation charges related to its role in the financial crisis. Read more: Ex-Barclays chair Agius tells court he was unaware of £280m Qatar deal The figures Profit before [...]
Former Barclays chair Marcus Agius tells court he was unaware of £280m agreement with Qatar February 20, 2019 Former Barclays chair Marcus Agius told a court in London today that he was unaware of an agreement by the bank to pay Qatar £280m as it embarked on an emergency fundraising at the height of the financial crisis. The Serious Fraud Office has charged former Barclays chief executive John Varley and senior bankers Richard [...]
Theresa May will travel to Brussels with the EU still not budging on the backstop February 19, 2019 Theresa May will travel to Brussels on Wednesday for a meeting with Jean Claude-Juncker after the EU once again ruled out fundamental changes to the Brexit deal. However, negotiators from both sides are currently working on a new legal text relating to the Irish backstop plan aimed at winning support from the UK parliament. Brexit [...]
Ex-Barclays chairman Marcus Agius testifies in Qatar fundraising fraud trial February 19, 2019 Former Barclays chairman Marcus Agius appeared as a witness at Southwark Crown Court today in the historic trial of four senior bankers accused of fraud for their actions at the height of the financial crisis. Agius is the first heavyweight banker to appear as a witness in a trial connected to the 2008 crash, more [...]
Swiss Re completes 1bn Swiss franc share buyback ahead of financial results this week February 18, 2019 Swiss Re said today it had completed a 1bn Swiss franc (£771m) share buyback programme, ahead of announcing its 2018 financials this week. The Zurich-based insurer said it had bought 11.2m shares, equivalent to 3.21 per cent of its outstanding shares, at an average price of 89.17 frances per share. Read more: German insurance giant [...]
Former Barclays chair will appear at SFO fraud trial February 18, 2019 Marcus Agius, the former chairman of Barclays, is set to appear as a witness for the prosecution at the high-profile trial of four of the bank’s former executives on fraud charges. Agius quit the bank nearly seven years ago over its role in the Libor-rigging scandal. He will be called on by the Serious Fraud [...]