Key Developments: Barclays PLC (BARC.L)
317.00GBp
24 May 2013
-4.45p (-1.38%)
321.45p
324.45p
325.45p
316.20p
48,466,983
50,196,490
338.20p
148.20p
Latest Key Developments (Source: Significant Developments)
Barclays PLC's Barclays Bank PLC and Subsidiary Absa Group Ltd To Combine Africa Operations
Barclays PLC announced that with reference to the announcement made on August 21, 2012, Barclays Bank PLC and its subsidiary Absa Group Ltd announced their agreement to combine the majority of Barclays Africa operations (the Portfolio) with Absa. Full Article
UK's OFT Examines Barclays PLC Takeover Of ING Direct-Reuters
Reuters reported that Britain's Office of Fair Trading would scrutinize Barclays Plc planned takeover of Dutch rival ING's British retail banking business to make sure it would not restrict competition. Full Article
US Watchdog Seeks $470 Million Fine From Barclays PLC-Reuters
Reuters reported that U.S. regulators threatened to fine Barclays PLC roughly $470 million to settle allegations that the bank and four traders manipulated California electricity markets, reviving the specter of a sector-wide crackdown on energy trading. The bank has 30 days to show why it should not be penalized for an alleged scheme of manipulating physical electricity prices at a loss in order to make profits in related positions in the swaps market, a strategy known as a loss-leader. British bank Barclays said it would fight the agency, likely setting up a landmark legal battle that could set a precedent over whether the once-common trading ploy in commodity markets is illegal or simply ill-advised. Full Article
Barclays PLC Declares Third Interim Dividend
Barclays PLC announced that for qualifying US and Canadian resident ADR holders, the interim dividend of 1p per ordinary share becomes 4p per ADS (representing four shares). The ADR depositary will mail the interim dividend on December 7, 2012 to ADR holders on the record on November 9, 2012. Full Article
Barclays PLC Faces Libor Claim In Landmark UK Court Case-Reuters
Reuters reported that Barclays PLC will face the first claim for damages stemming from manipulation of the Libor interest rate in a landmark case before Britain's High Court that could have major implications for all UK banks. Guardian Care Homes, a residential care home operator based in Wolverhampton, central England, is suing Barclays over the alleged mis-selling of interest rate hedging products known as swaps on which it has lost 12 million pounds ($19 million). Full Article
Standard Chartered PLC Set To Buy Barclays PLC's Retail Assets In India-The Economic Times
The Economic Times reported that Standard Chartered PLC is set to acquire retail assets of Barclays Plc's Barclays Bank in India and an announcement is expected soon. Barclays refused to comment. Other details of the transaction were not disclosed. Full Article
U.S. Home Owners File Class Action Suit Vs Banks Over Libor Including Barclays PLC, Bank of America Corp, UBS AG-Reuters
Reuters reported that U.S. home owners have filed a class action suit in New York against 12 banks, claiming that Libor manipulation made mortgage repayments more expensive than they should have been, the Financial Times reported on October 15, 2012. The five lead plaintiffs include Annie Bell Adams, a pensioner who had her home repossessed and whose subprime mortgage was securitised into Libor-based collateralised debt obligations and sold by banks to investors, the FT said. The suit alleges that traders at banks in Europe and North America, including Barclays PLC, Bank of America Corp and UBS AG were incentivised to manipulate the London interbank offered rate (LIBOR) to a higher rate on certain dates on which adjustable mortgage interest rates were reset. Full Article
Barclays PLC's Barclays Bank PLC To Acquire ING Direct UK
Barclays PLC announced that Barclays Bank PLC has agreed to acquire the deposits, mortgages and business assets of ING Direct UK. The acquisition follows the previous announcement by ING on August 2, 2012 of a review of strategic options for the ING Direct UK business, and subsequent decision to exit the UK retail banking market. Under the terms of the transaction, Barclays will acquire a deposit book with balances of GBP10.9 billion and a mortgage book with outstanding balances of GBP5.6 billion (as at August 31, 2012). The deposit book is being acquired at par. Completion is expected to occur early in Q2 2013. Full Article
Barclays PLC Appoints Retail Boss Jenkins As CEO-Reuters
Reuters reported that Barclays PLC named retail boss Antony Jenkins as its new Chief Executive Officer (CEO). Jenkins replaces Bob Diamond, who built up Barclays's thriving investment bank but resigned as CEO in July after the bank admitted manipulating the Libor benchmark interest rate. Full Article
Barclays PLC Faces UK Fraud Probe On Qatar Payments-Reuters
Reuters reported that Britain's fraud prosecutors have launched a criminal probe into payments between Barclays PLC and Qatar Holding, the British bank confirmed, adding to an ongoing regulatory investigation into dealings between the two parties. Barclays said on August 29, 2012 that the UK's Serious Fraud Office (SFO) started an investigation into payments under certain commercial agreements between it and Qatar. Full Article
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