Key Developments: Barclays PLC (BCS)
18.76USD
18 Jun 2013
$0.21 (+1.13%)
$18.55
$18.93
$18.98
$18.72
1,541,815
2,726,347
$20.60
$9.23
Latest Key Developments (Source: Significant Developments)
Singapore Reprimands Barclays PLC's Barclays Bank PLC And Other Banks After Benchmark Rate Review-Reuters
Reuters reported that Singapore's central bank has censured Barclays PLC' Barclays Bank PLC and 19 other banks on June 14, 2013 after it found traders in the city state tried to manipulate benchmark borrowing and currency rates, and has ordered them to set aside additional reserves for a year. All of the banks on the Singapore's setting panels for interbank lending and currency rates were censured, along with Australia's Macquarie Bank. UBS AG, Royal Bank of Scotland Group PLC and ING Groep NV have been ordered to set aside the most in additional reserves, with each having to post between an extra SGD1 billion ($799.52 million) and SGD1.2 billion with the central bank. The money will be returned if the banks take the required remedial action. UBS and ING could not immediately be reached for comment. Other banks censured included BNP Paribas, Bank of America, Oversea-Chinese Banking Corporation, Barclays PLC's Barclays Bank PLC, Credit Suisse, DBS, Deutsche Bank and Standard Chartered PLC Full Article
Singapore Reprimands Barclays PLC And Other Banks After Benchmark Rate Review-Reuters
Reuters reported that Singapore's central bank has censured Barclays PLC and 19 other banks on June 14, 2013 after it found traders in the city state tried to manipulate benchmark borrowing and currency rates, and has ordered them to set aside additional reserves for a year. All of the banks on the Singapore's setting panels for interbank lending and currency rates were censured, along with Australia's Macquarie Bank. UBS AG, Royal Bank of Scotland Group PLC and ING Groep NV have been ordered to set aside the most in additional reserves, with each having to post between an extra SGD1 billion ($799.52 million) and SGD1.2 billion with the central bank. The money will be returned if the banks take the required remedial action. UBS and ING could not immediately be reached for comment. Other banks censured included BNP Paribas, Bank of America, Oversea-Chinese Banking Corporation, Barclays Bank PLC, Credit Suisse, DBS, Deutsche Bank and Standard Chartered PLC Full Article
Barclays PLC Axes 3,700 Jobs-Reuters
Reuters reported that Barclays Plc's new chief executive pledged a fresh course for the British lender, axing at least 3,700 jobs and pruning investment bank as he seeks to rebuild reputation and increase profitability after a series of scandals. Full Article
Barclays PLC Declares Final Cash Dividend
Barclays PLC announced that it will pay a final cash dividend for 2012 of 3.5 pence per share on March 15, 2013, giving a total declared dividend for 2012 of 6.5 pence per share. Full Article
Barclays PLC Investment Bank Cutting Jobs-Reuters
Reuters reported that Barclays PLC is nearing the completion of a raft of job cuts at its investment bank as part of its new Chief Executive's plan to streamline operations and cut costs, a person familiar with the matter said on February 06, 2012. The scale of cuts is unclear, but analysts expect Chief Executive Antony Jenkins to announce about 2,000 investment bank jobs have gone when he unveils a strategic plan on February 12. Sources said there have been cuts in front- and back-office functions, and they have included fixed income, commodities, currencies, equities and advisory business areas. Barclays plans to cut 275 jobs in three locations in New York, including its office in the former Lehman Brothers headquarters, the British bank said in a filing with the New York State Labor Department. Wednesday's filing also showed the layoff date would be May 15. Analysts say 5 to 10% of staff could go, although some suggest a bigger cull of 15%, or more than 3,000 jobs, could be seen. Full Article
Kotak Mahindra Bank Ltd Acquires Business Loans Portfolio Of Barclays Plc's Indian Arm
Kotak Mahindra Bank Ltd announced that it has acquired the business loans portfolio of the Indian arm of Barclays Plc. Other details of the acquisition were not disclosed. Full Article
Barclays PLC Finance Director Lucas To Retire-Reuters
Reuters reported that Barclays PLC said its Finance Director Chris Lucas is to retire, adding to change at the top of the British bank as it struggles to put a series of scandals behind it. He will remain in his role until successor have been found and an appropriate handover completed. Full Article
UK Authorities Probing Barclays PLC Over Qatar Loan Allegation-Reuters
Reuters reported that Authorities in the UK are looking into an allegation that Barclays PLC loaned Qatar money to invest in the bank as part of its cash call during the height of the financial crisis in 2008, allowing the bank to avoid a bailout, The Financial Times reported on its website. The Financial Services Authority and the Serious Fraud Office have been looking into Barclays' emergency fundraising. Full Article
Barclays PLC Cutting 15% Of Investment Banking Division Across Asia-DJ
Dow Jones reported that Barclays PLC is laying off 15% of the employees in its investment banking division across Asia starting on January 24, 2013, people familiar with the matter said, as part of the U.K-based bank's move to shed 2,000 jobs from the division globally. Around 70 people will be laid off in Asia across the bank's merger and acquisitions advisory, equity capital markets, debt capital markets and the global finance and risk groups, the people said. Full Article
Barclays PLC Puts UK Investment Banking Staff On Notice For Job Cuts-DJ
Dow Jones reported that Barclays PLC put its U.K. investment banking staff on notice for potential job cuts as it prepares to restructure the bank to adapt to new regulations and a tougher business climate. The Company has begun a process of consultation on potential job cuts with all 9,000 of its U.K. investment-banking employees, as part of a formal review of the entire group being conducted by Chief Executive Antony Jenkins. Mr. Jenkins is to present the results of the review and a restructuring plan on February 12. U.K. employment law requires companies to conduct a 90-day consultation process when more than 100 jobs are at risk. Full Article
UPDATE 1-Anti-G8 activists rally in London banking district
* Officers have outnumbered activists at rallies this week
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