Barclays’ former boss Antony Jenkins pockets £505,000 bonus despite being sacked in July March 1, 2016 Barclays' ousted chief executive Antony Jenkins has picked up a cool £505,000 bonus, taking his total remuneration to £3.4m for the year. This is a 40 per cent drop on last year's total pay package – and half the bonus he got for 2014 – but it's still pretty healthy considering Jenkins was sacked in July, with [...]
Barclays’ share price drops as profits and revenues fall on non-core losses – but CET1 ratio improves March 1, 2016 Barclays' share price fell this morning after revealing a slump in profits and revenues for the full year, and a major new strategy ahead of future ring-fencing. The figures Barclays' share price fell six per cent in early trading as investors digested the bank's full year results – Jes Staley's first as chief executive – which showed further declines [...]
Barclays’ share price falls as it confirms it is selling off Africa, cutting dividend and creating two divisions ahead of ring-fencing March 1, 2016 Barclays' new chief executive Jes Staley has outlined a major new strategy to simplify the bank, confirming that it will sell off its Africa stake. The move comes as the global lender prepares "for regulatory ring-fencing requirements", Staley said this morning. As expected, the 62.3 per cent stake in Barclays Africa Group (BAGL) will be reduced "to [...]
FTSE 100 index closes flat on last day of the month as supermarkets come into focus February 29, 2016 The FTSE 100 index closed slightly higher on the quiet last day of the month after the G20 disappointed over the weekend. The UK's blue-chip index closed 0.02 per cent higher at 6,097 points. "It was almost as if investors forgot about the leap day and no investments were planned on a quiet last day of the month," said [...]
Techies and retailers beat the bankers to win 100 free lunches in Deliveroo’s corporate competition February 29, 2016 IT’S SAFE to say that City workers are bracing themselves for a disappointing bonus season. Reports earlier this month found that banker’s bonuses could plummet by almost 10 per cent, but City firms are trying to make up the difference by winning free lunches for their workforce. Up-market fast food transporter Deliveroo has launched a competition [...]
CoalFace Capital’s Declan McEvoy on clichés, robo-advisers, and pink hair February 29, 2016 Plenty of people must have sat in their banking job thinking about what could be done better and wondering if they should just pack it all in and start their own business. Declan McEvoy, founder of innovative trading platform CoalFace Capital, first realised he wanted to be this person back in 1999, while doing his [...]
Financial sector leads professional job creation – Apsco February 29, 2016 Landing a role in finance got easier in January as the number of vacancies soared 12 per cent on the same month last year. Stronger demand was reflected in pay growth. Average salaries in banking jobs have gone up 4.9 per cent, according to the data released by the Association of Professional Staffing Companies (Apsco) [...]
Barclays results: British bank expected to sell off African operations and pay former chief executive Antony Jenkins a £500k performance bonus as it announces full-year results this week February 28, 2016 Barclays' new chief executive Jes Staley is expected to announce plans to sell off the lender's African business when the British bank reports full-year results for 2015 on Tuesday. It was widely reported over the weekend that Barclays' board decided last week that it made sense strategically for the British bank to exit the continent and refocus [...]
At the close: FTSE 100 index surges as banks’ share prices including Lloyds, RBS and Barclays rise February 25, 2016 The FTSE 100 index rocketed on Thursday as banking stocks surged, supported by the news that fourth quarter UK GDP was revised upwards to 0.5 per cent. The index closed 2.48 per cent higher at 6,012 points, led higher by Lloyds Banking Group and RSA Insurance Group. "European banks were the centre of market turmoil two [...]
Do you use the UK’s worst bank? Barclays voted the most disappointing bank – while First Direct is named top lender February 25, 2016 It's been a tough few months for the UK's lenders. And not one to miss a chance to kick a bank when it's down, Moneysavingexpert has unveiled its ranking of the UK's best and worst lenders – and it's not looking good for Barclays. The ranking put First Direct at the top, with 91 per cent of current account customers [...]