Win Boris’s signed cycle shirt July 30, 2013 THERE are only four days to go until Mayor of London Boris Johnson captains his very own Team Boris in the Ride London 100 race – a 100 mile cycle challenge around London and Surrey. Cycling on the Mayor’s team are City pedallers from the likes of Cazenove Capital, Barclays, Aviva, and Azure Wealth. And [...]
London Report: FTSE shrugs off Barclays rights issue to tick up July 30, 2013 UPBEAT earnings from leading companies nudged Britain’s benchmark equity index higher yesterday, enabling the market to offset a slump in Barclays after the bank announced plans for a $9bn capital hike. The blue-chip FTSE 100 index closed up 0.2 per cent, or 10.70 points, at 6,570.95. Engineer GKN topped the leaderboard with a 6.5 per [...]
Investor attacks regulator for being “hostile to banks” July 30, 2013 The head of equities at Barclays' fifth largest shareholder has slammed the UK's financial regulator for being "capricious and hostile to banks". David Cumming, head of equities at Standard Life Investments, has told Reuters that regulators are responsible for a "lack of stability or consistency" in capital requirements. From a taxpayer and investors viewpoint this [...]
JP Morgan agrees $410m settlement over energy market manipulation allegations July 30, 2013 JP Morgan Ventures Energy Corporation has agreed with the Federal Energy Regulatory Commission (FERC) to pay ratepayers the sum of $410m (£268m) to settle a US energy probe (release). JP Morgan neither admits or denies the allegations, which involve market manipulation from the company’s bidding activities in electricity markets in California and the Midwest from [...]
Initial reactions to Barclays results and capital shortfall plan July 30, 2013 Source: Yahoo Following the drop in Barclays's share price after it announced a drop in profits and plans to fill a bigger-than-expected £12.8bn capital hole, analysts have been mulling what this means for the bank. Mark Kimsey, a senior trader at Accendo Markets, says investors are getting fed up with Barclays and moving into state-owned [...]
Barclays shares drop as profits fall and announces plans to fill capital hole July 30, 2013 Barclays has reported a 17 per cent fall in half year adjusted profits to £3.591bn as it was hit by the cost of a group-wide restructure in the wake of the Libor rate-rigging scandal. The bank also reported that its capital hole was much larger than thought at £12.8bn and announced a £5.8bn capital-raising rights [...]
Barclays shares drop as it reports a fall in profits and plans to fill £12.8bn capital hole July 30, 2013 Barclays has reported a 17 per cent fall in half year adjusted profits to £3.591bn as it was hit by the cost of a group-wide restructure in the wake of the Libor rate-rigging scandal. The bank also reported that its capital hole was much larger than thought at £12.8bn and announced a £5.8bn capital-raising rights [...]
UK banking regulator gives green light to Barclays share sale plan July 30, 2013 Commenting on Barclays’s planned £5bn share sale to fill its capital hole, UK banking regulator the Prudential Regulation Authority has said it agrees and welcomes the plan. According to a spokesperson for the Bank of England: Following constructive discussions, the PRA has agreed and welcomes Barclays capital plan, announced today. We have considered all elements [...]
Barclays plans £5bn share sale July 29, 2013 BARCLAYS will today reveal how it plans to plug its capital hole, raising funds from shareholders to reassure regulators it is a strong, stable bank. After weeks of intense negotiations with the City watchdog, chief executive Antony Jenkins is set to unveil a plan that aims to balance investors’ hopes that they will not [...]
JP Morgan to settle over US energy rigging charges July 29, 2013 JP MORGAN Chase was last night publicly accused by a US federal watchdog of manipulating American energy markets in a series of trades made between 2010 and 2011. The Wall Street bank, led by high profile chief executive Jamie Dimon, is widely expected to settle the charges with the Federal Energy Regulatory Commission (Ferc), the [...]