FTSE opens flat ahead of Jackson Hole speech August 31, 2012 The blue chip index opened modestly up this morning, as investors were cautious ahead of Fed chairman Ben Bernanke’s Jackson Hole speech later, where he is expected to signal more stimulus for the US economy. Rental equipment supplier Lavendon Group led the risers, up more than nine per cent in early deals. Investors were buoyed [...]
Jenkins vows to mend Barclays August 30, 2012 ANTONY Jenkins yesterday pledged to restore Barclays’ tarnished reputation by taking the lead in reforming the industry, insisting he will wholeheartedly take part in schemes to boost lending and will seek to implement the new ring-fence well ahead of official deadlines. Jenkins has taken over from shamed chief executive Bob Diamond who resigned at the [...]
Jenkins gets City backing as seasoned professional August 30, 2012 BARCLAYS is in for a sharp change of culture, despite the promotion of a leading insider to the top job, analysts said yesterday. Antony Jenkins joined the bank more than 30 years ago, with an interval at Citi, and as such could be open to criticism as Barclays faces calls to change its culture radically. [...]
Barclays’ new man must keep Ricci on board August 30, 2012 BOB Diamond he is not. Though Antony Jenkins yesterday claimed he gets the hard-nosed world of US banking, he’s a world away from his investment bank-obsessed predecessor who built BarCap out of next to nothing. But right or wrong, a public and regulator pleasing chief executive is exactly what Barclays needs right now – a [...]
Consumers pay down card bills at rising pace August 30, 2012 CONSUMERS paid back credit cards at the fastest pace since before the financial crisis last month, official figures showed yesterday. Net lending slid by £0.2bn in the month, and came in 0.6 per cent lower than in the same month of 2011, according to the Bank of England data. The fall indicates another rise in [...]
Steady hands will be navigating Barclays through murky waters August 30, 2012 THE appointment of Antony Jenkins as the new boss of Barclays is a clear indication that the Barclays of the future will be very different from that of the past. He may be an insider – a Barclays man – but Jenkins is a retail banker, having made his name at Barclaycard and in branch [...]
FTSE 100 lower as Barclays steals headlines August 30, 2012 The leading share index opened modestly down this morning, but the real focus was on Barclays, as it appointed head of the retail bank Antony Jenkins as its new chief executive. Miner Ferrexpo led the fallers, losing 10.2 per cent in early trading, as the company went ex-dividend yesterday. Recruitment firm Hays fell 8.48 per [...]
Barclays appoints Antony Jenkins as chief executive August 30, 2012 Barclays today named retail boss Antony Jenkins as its new chief executive, handing an insider the task of helping to repair the damage caused by a rate-rigging scandal. Softly spoken Jenkins, brought in six years ago to turn around the bank’s credit card business, replaces Bob Diamond, who built up Barclays’ thriving investment bank but [...]
Barclays faces SFO probe over Qatar payments August 29, 2012 THE SERIOUS Fraud Office (SFO) is investigating payments between Qatar and Barclays, the bank confirmed yesterday. Barclays said it is complying with the fraud squad’s probe, which is in its early stages. The SFO investigation is separate to the Financial Services Authority’s (FSA) inquiry that began in July, which relates to fees paid to the [...]
Miners weighed down by copper price slip as quiet FTSE ends lower August 29, 2012 BRITAIN’S blue chip shares fell yesterday in very light trade as uncertainty over the outlook for the global economy and the next moves by central banks prompted many investors to stick to the sidelines. Miners were the standout fallers, off 2.2 per cent, weighed down by a drop in the copper price. Global growth worries [...]