Barclays faces £50m fines over “reckless” Qatari agreements September 16, 2013 Barclays has announced that it expects fines of £50m over payments between Qatar and the bank, where a regulator found that the bank had "acted recklessly", in a right issue prospectus released today. The bank said that the Financial Conduct Authority (FCA) had investigated agreements entered into by Barclays with Qatar Holding in June and [...]
Barclays expects £50m fine over Qatari payments investigation September 16, 2013 Barclays banks has confirmed that it faces fines of £50m over payments between Qatar and the bank, in a right issue prospectus released today. The FCA has investigated certain agreements, including two advisory services agreements entered into by Barclays Bank with Qatar Holding LLC (“Qatar Holding”) in June and October 2008 respectively, and whether these [...]
Barclays sees significant drop in investment bank income September 16, 2013 It's prospectus release day for Barclays – as they prepare to raise £5.8bn of capital through a rights issue (release). In an update on their current trading and prospects, things are looking less than rosy at the bank's investment banking arm: The Group's adjusted income for July and August 2013 was £0.5 billion lower than [...]
Surge in women on bank boards after credit crisis September 16, 2013 BRITISH banks have almost doubled the proportion of women on their boards in the past six years, according to research out today from recruiter Astbury Marsden. Twenty per cent of board directors are now women across the top five biggest UK lenders, up from 12 per cent in 2007. That is the same level as [...]
Real estate jobs boom a worry – but labour market rebalancing September 16, 2013 IT is the fact of the day: those who work in real estate accounted for 23.05 per cent of the net jobs growth in the UK over the past year. In fact, 13 per cent of the 562,000 total jobs that now exist in “real estate activities” – which include a range of jobs, from [...]
Surge in women on bank boards after credit crisis September 15, 2013 BRITISH banks have almost doubled the proportion of women on their boards in the past six years, according to research out today from recruiter Astbury Marsden. Twenty per cent of board directors are now women across the top five biggest UK lenders, up from 12 per cent in 2007. That is the same level as [...]
What the other papers say this morning – 16 September 2013 September 15, 2013 FINANCIAL TIMES Diamond calls for bank shake-up Bob Diamond – the former head of Barclays who tried to buy Lehman Brothers before its collapse five years ago – has joined a chorus of criticism over the lack of progress in ending banks’ “too big to fail” status. Citing “insufficient” progress in ways to safely wind [...]
Analyst of the year September 15, 2013 The role of the analyst has become increasingly important at such an uncertain time in the economy, when everyone is looking for guidance. This category’s nominees all stand out for their impressive foresight in their respective sectors and their revered reputations in the industry. Here is our pick of the analysts truly at the top [...]
Bottom Line: Prospectus is not enough to seal the deal September 12, 2013 FOR potential investors in Royal Mail, the next few weeks will provide plenty of time to get stuck into the lengthy prospectus for the float, and to try to decide whether the government has made an investment case worth taking a chance on. Initially, their heads may be turned by the dividend. The government has [...]
Verizon borrows $49,000,000,000 in just one day September 11, 2013 TELECOMS giant Verizon borrowed a record $49bn (£31bn) from the bond markets yesterday – an astonishing sum that is larger than the economies of more than 90 countries. The debt deal, which was so large that it took even Wall Street by surprise, will be used to finance the company’s $130bn purchase of Vodafone’s [...]