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Banking group Barclays PLC on Tuesday reported strong earnings in its investment banking unit and announced the restart of dividend payments, but also warned that the bad debts weighing on its profits have not yet peaked.
Barclays shares dropped 5 percent Tuesday after the British bank's largest shareholder, Qatar's sovereign wealth fund, said it was selling a stake worth more than $2 billion.
Jim Furyk was penalized four strokes in the third round of The Barclays when he and caddie Mike "Fluff" Cowan left an extra club in the bag, a mistake that ended up costing Furyk $131,250 and 188 FedEx Cup points.
The little guy from the sticks beat Tiger Woods and a cast of big stars in perhaps the most urban setting in PGA Tour history.
Tiger Woods entered The Barlcays on Friday, an indication that the world's No. 1 player plans to compete in all four FedEx Cup playoff events for the first time.
Banking group Barclays PLC said Monday that first-half net profit increased 10 percent as stronger earnings from its expanded investment banking division outweighed an increase in bad loans.
A bankruptcy judge said Wednesday that managers of the Lehman Brothers estate can investigate whether Barclays got "too good of a deal" when it bought Lehman's broker-dealer unit last fall.
Shares in Barclays PLC fell in London Friday following the announcement that it had sold its Global Investment unit to U.S. fund manager BlackRock Inc. for $13.5 billion.
Ending weeks of speculation, U.S. investment manager BlackRock Inc. said Thursday it will purchase the asset management arm of British investment bank Barclays PLC for $13.5 billion in cash and stock, to become the world's largest asset manager.
A major Middle Eastern shareholder in Barclays bank said Tuesday it intends to sell part of its stake — at least 1.3 billion shares — potentially taking a big profit on its seven-month investment and sending Barclays shares down more than 13 percent.
Lawyers for Lehman Brothers asked a bankruptcy judge for permission to investigate Barclays PLC, the British bank that bought Lehman's broker-dealer business amid the early chaos of its bankruptcy.
Barclays PLC, the British bank that stood apart from its peers by shunning a government bailout, on Thursday posted a sharp rise in first-quarter net profit after its investment banking profits surged from the acquisition of U.S. assets of bankrupt Lehman Brothers.
First-quarter net profit at Barclays PLC rose 12 percent from a year ago as investment banking profits surged from the acquisition of U.S. assets of bankrupt Lehman Brothers, though the bank posted a steep 79 percent increase in writeoffs on bad investments due to the financial crisis.
Barclays PLC said Thursday that it has agreed to sell its U.S.-based asset management business iShares to European private equity firm CVC Capital Partners Group, booking a net gain of $2.2 billion from the sale.
Barclays PLC says it has agreed to sell its U.S.-based asset management business iShares to European private equity firm CVC Capital Partners Group for $4.4 billion.
Barclays PLC said Monday it has had a good start to 2009 and confirmed it has been in talks with several parties about selling iShares, its San Francisco-based asset management unit.
Longtime Citigroup executive John Longley has left the bank to take a position with Barclays Global Investors.
Shares in Barclays PLC surged more than 70 percent Monday after the bank said it expects pretax profits for 2008 to be well over 5.3 billion pounds ($7.3 billion), despite 8 billion pounds worth of asset writedowns at its investment banking division.
Switzerland's UBS AG said Friday it is selling parts of its commodities business to Barclays Bank PLC for a yet-to-be determined sum.
Barclays PLC said Wednesday it plans to cut up to 2,100 jobs in its retail and commercial banking units, adding to redundancies of the same size in its investment banking arms announced Tuesday.
Barclays PLC said Wednesday it plans to cut up to 2,100 jobs in its retail and commercial banking units, adding to redundancies of the same size in its investment banking arms announced Tuesday.
Shareholders of Barclays PLC, Britain's second largest bank, voted overwhelmingly in favor of a plan to raise 7 billion pounds ($10.5 billion), largely from funds in the Middle East.
Shareholders of Barclays PLC, Britain's second largest bank, voted overwhelmingly in favor of a plan to raise 7 billion pounds ($10.5 billion), largely from funds in the Middle East.
Barclays PLC's shares fell 7.5 percent on Wednesday on the growing likelihood that a 7 billion pound ($10.6 billion) fundraising deal, expected to erode shareholder value, will be approved.
Barclays PLC moved to appease shareholders Tuesday, saying it will let existing stockholders in on a share issue originally earmarked for private Middle Eastern investors and that it won't pay its top executives any annual bonuses this year.
Lehman asks to unseal documents from Barclays probeEarlier this month, Lehman asked a judge to revisit the sale of Lehman's brokerage to Barclays Capital claiming that the British bank got an improper $8.2 billion "windfall profit" from excess assets it took control of in the September 2008 deal.
London-based eastern Europeans used Barclays bank cards in £300,000 French cash-point scam Dozens of London-based Slovakians have been arrested in northern France after using Barclays bank cards to fraudulently withdraw more than £300,000 in cash.
Big Bonuses Back as Banks make BillionsThe Barclays figures came amid reports some executives have amassed £250,000 bonuses for six months work. That amounts to almost £1,500 a day. The payouts could spark further outrage from staff already angry at the closure of the bank's final salary pension scheme to around 1 …
MTA Sells Naming Rights to Brooklyn Subway StationSelling the name of a subway station has been a goal of the Metropolitan Transportation Authority for nearly five years. But interest has been low, even for a piece of real estate so recognizable to the public.
M.T.A. Sells the Naming Rights to a Station, and Wants to Make More DealsSelling the name of a subway station has been a goal of the Metropolitan Transportation Authority for nearly five years. But interest has been low, even for a piece of real estate so recognizable to the public.
When the bank's computer says noA hardware failure for Barclays' bank in the United Kingdom caused the failure of approximately 1,500 bank machines, as well as telephone and online banking services.
Barclays worker paid double salary for years sues bank when they realise mistake and slash her wagesA Barclays worker paid double her salary by mistake for three years is suing the bank after the blunder was uncovered and her pay cut in half.
Comprehensive 10 Year Review of AIG s Accounting PracticesAIG now stands for "arrogance, incompetence and greed" ...according to U.S. House Representative Paul Hodes (D-NH). Now it ratchets way up...
New whistleblower claims over £1bn Barclays tax deals | Business | guardian.co.ukFurther detailed allegations about tax avoidance schemes set up by Barclays Bank emerged tonight from whistleblowers who said the bank made close to £1bn profit a year from a series of elaborate deals.
Fear, revenge and ingenious tax deals – life on the top floor at Barclays"Hidden away on the top floor of 5 The North Colonnade sit the formidable Barcap SCM (Structured Capital Markets) team, a team of some 110 people with the sole purpose of structuring tax-aggressive transactions to avoid tax not only for Barclays but also for banks and companies a …
Bad Deal: Banks Paid By AIG With U.S. Taxpayer Dollars, - Where's The Equity Stakes?"Financial companies that received multibillion-dollar payments owed by A.I.G. include Goldman Sachs ($12.9 billion), Merrill Lynch ($6.8 billion), Bank of America ($5.2 billion), Citigroup ($2.3 billion) and Wachovia ($1.5 billion).
Major banks facilitate corruption in world's poorest countries; government regulation is not workingAs G20 finance ministers meet in London to discuss how to rescue the global financial system and prevent the next disaster, a new report by anti-corruption NGO Global Witness shows how some of the world's biggest banks have been dealing with some of the world's most corrupt r …
Undue DiligenceGlobal Witness new report Undue Diligence names major banks who have done business with corrupt regimes / kleptocrats. By accepting these customers, banks assist those who are using state assets to enrich themselves or brutalise their own people.
Three European banks forecast back in spring of 2008 that the world economy would suffer a sharp decline. The banks Barclays, Fortis, and RBS all sought large infusions of funds to cover their investments, all in the spring months of May-June-July.
Stampede by banks to beat bonus crackdownBanks dependent on taxpayer support are planning to rush out hundreds of millions of pounds in bonuses to senior bankers and traders before a threatened crackdown.
Student's £100bn overdraft shockA student from Ayrshire was left in a state of shock when his online banking statement showed him to be overdrawn by almost £100bn. Donald Moffat, 38, from Irvine, said that on Tuesday morning his Barclays account was showing two separate withdrawals of £50bn.
Bank error leaves student with £100bn debt A "technical error " on the part of Barclays left a student with a £100 billion debt. Donald Moffat from Ayr@!$%#e, Scotland, told the BBC that his current account showed two separate withdrawals of £50bn on Tuesday morning.
Barclays hit by backlash over Mideast deal"Shares in Barclays fell 13 per cent to 178.9p even as the bank defied sceptics by succeeding in tapping private investors for the funds it needs as part of the recapitalisation of banks.
Barclays raises more than £7bn from Middle East investorsBarclays is raising up to £7.3bn from Middle East investors, who could end up owning more than a third of the UK's second largest bank. The move allows the bank to strengthen its balance sheet without taking help from the taxpayer.
Reasons to be cheerful amid financial apocalypseThe interconnectedness and velocity of modern markets make this crash unique, says Martin Vander Weyer. But all is not lost yet: this is a time for cool heads and open minds...
US government rescues insurer AIG"The US Federal Reserve has announced an $85bn (£48bn) rescue package for AIG, the country's biggest insurance company, to save it from bankruptcy. AIG will get an $85bn loan, in return for an 80% public stake in the firm.
US government rescues insurer AIGThe US Federal Reserve has announced an $85bn (£48bn) rescue package for AIG, the country's biggest insurance company, to save it from bankruptcy. AIG will get an $85bn loan, in return for an 80% public stake in the firm.
Global market turmoil continues "European stocks fell again; the UK's FTSE 100 was down 2.44%, France's Cac down 1% and Germany's Dax down 1.58%. Shares in Japan, South Korea and Hong Kong fell more than 5%, having been shut on Monday for public holidays.
Move by Northern Rock sparks cheaper mortgage dealsThe availability of good mortgage deals looks set to increase after both Northern Rock and then the Woolwich, owned by Barclays, have announced offers. Northern Rock on Monday announced a two-year fixed rate at 5.89% for customers with a deposit of at least 25%.
Banks offer glimmer of hope on new mortgagesHigh Street banks Barclays and Abbey yesterday announced cuts in the cost of their two-year fixed-rate mortgages, with rates falling below 7% for the first time in weeks. Barclays cut some of the rates offered by its mortgage unit Woolwich by up to 0.35 percentage points.
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