Barclays profit drops April 27, 2011 Barclays said its profit fell nine per cent from a year ago as it took a hit on the value of its own credit and income at its key investment banking arm dipped. Barclays reported a pretax profit of £1.66bn for the January-March period, just below forecasts and down from £1.82bn a year ago. Adjusted [...]
Barclays faces protests over food speculation April 26, 2011 BARCLAYS could see its annual meeting today disrupted by a group of protestors complaining about it speculating on food prices. The World Development Movement says it will protest against Barclays “pushing up the price of staple food”. Barclays Capital told City A.M. it acts “as an intermediary for our clients.” Protesters say banks are “profiting [...]
FTSE closes at two-month high despite light volumes April 26, 2011 aBRITAIN’S FTSE 100 closed at its highest level in over two months yesterday, albeit in light volumes, as earnings from the US and Europe supported gains ahead of results from UK companies such as ARM and BP. The blue-chip FTSE 100 closed up 0.9 per cent at 6,069.36, with volumes still thin after the four-day [...]
HSBC axes its Russian retail banking unit April 25, 2011 HSBC has become the latest international lender to pull the plug on its retail operations in Russia, as foreign banks struggle to crack the dominance of the country’s state-backed giants. The London-based bank’s exit follows that of Barclays, which quit its Russian retail banking operation last month. Barclay’s boss Bob Diamond said at the time [...]
FTSE slips as earnings news dominates April 21, 2011 The FTSE pushed downwards at the close for the Easter break despite a strong start boosted by a positive round of US results last night. The FTSE 100 closed down 3.96 points or 0.1 per cent at 6,018.30, having jumped 2.1 per cent over the day to close back above the 6,000 level for the [...]
Newcastle hard knocks fail to deter dignified Hughton April 20, 2011 IF football’s marketing men want an antidote to the bad examples set by Wayne Rooney snarling into the nearest TV camera and managers furiously haranguing officials, then they could do far worse than Chris Hughton. The former Newcastle boss was dignity personified when unceremoniously dumped by the Tyneside club in December, despite hauling them back [...]
IT’S A GAS FOR CLARE AT BANKER BRIEFING April 20, 2011 HOW can money be the same as gas? It’s a good question, and one that bankers were giving serious thought yesterday at a lunchtime talk at Clifford Chance by Clare Spottiswoode, member of the Independent Commission on Banking. The former gas regulator had been briefed to update 34 high-powered bankers, including Antony Jenkins, group chief [...]
No rate rise in sight for King and his doves April 20, 2011 TWO thirds of the Bank of England’s monetary policy committee (MPC) still oppose moves to normalise interest rates, despite rising price pressures. The Bank expects inflation in the coming months to exceed its February predictions, it said yesterday. “There remained a significant risk that inflation would exceed five per cent,” the MPC’s minutes revealed. However, [...]
CITY MOVES | WHO’S SWITCHING JOBS April 20, 2011 Barclays Corporate Barclays Corporate has appointed Tan Kah Chye as head of trade and working capital, joining from Standard Chartered Bank in Singapore, where he held the position of global head of trade finance for the past six years. At Barclays, Chye will use his experience in senior trade finance roles in Asia and Europe [...]
Bale won’t quit Spurs, says Hughton April 19, 2011 TOTTENHAM great and former Newcastle manager Chris Hughton believes star man Gareth Bale will reject overtures from Europe’s elite even if Spurs fail to qualify for the Champions League. Hughton admits tonight’s showdown with bitter rivals Arsenal will go a long way to deciding whether Harry Redknapp’s men, who lie fifth, can usurp Manchester City [...]