Alerts in the last 24 hours

No Personalised Alerts!

To see personalised alerts you need to be logged in.

Log In

Barclays PLC Add to portfolio

LON100:BARC, Mar 28, 08:19 UTC

Latest LON100:BARC News

Filter your feed

Apply Filter

Yesterday


News

Barclays Announces Bob Highland as Head of US Cards and Partnerships

BARC

In his new role, Highland will be responsible for the day-to-day management of the bank's consumer credit card programs and Barclays' strategic partnerships with many of America's best-known brands. Highland, a seasoned financial services leader with more than 20 years' experience in credit cards and payments, previously oversaw Business Development, Corporate Development and Network Management for Barclays' US operations. Since joining the company in 2008, Highland has been instrumental in the signing and renewal of more than a dozen of Barclays' key co-branded partnerships. "Barclays partnership business continues to be a key focus, and Bob will play an important role in leading our partner-first strategy in the United States," said Denny Nealon, President, Barclays US Consumer Bank. "I am incredibly excited by the opportunity to lead a business with such a strong growth story, a world class team, and a partner-focused business model that is truly differentiated in the market," Highland said.

Read Full Details

Topics:
  • Business
  • Financial
  • Science

Thursday, March 26


News

Halifax, Barclays and Lloyd’s give customers interest-free overdrafts as others prepare to hike rates by up to 40% – The Sun

BARC HSBA +4 more BARC HSBA HSBC LLOY 0005 RBS

Halifax, Barclays and Lloyd’s give customers interest-free overdrafts as others prepare to hike rates by up to 40%. NatWest, RBS, and Ulster Bank meanwhile, have automatically frozen interest rates on overdrafts at their current 19.89 per cent level for three months. The banks say these fees will be replaced with an interest rate of 35.9 per cent on April 6. But other banks have come under fire for not providing help, as well as continuing with plans to increase interest rates on arranged overdrafts to up to 49.9 per cent as the pandemic leaves many fearing for their jobs. First Direct says it has removed its daily £5 fee for using an unarranged overdraft, cut the maximum monthly charge from £80 to £20 per month, and is retaining its £250 interest free overdraft for all customers.

Read Full Details

Topics:
  • Business
  • Financial
News

Barclays reverses business loans decision after complaints over small print

BARC

Banking giant Barclays has performed a U-turn over onerous terms of emergency coronavirus loans that meant struggling business owners could be personally liable for the Government-backed debts. The fine print of the loans meant banks could seek to seize assets owned by company directors if their business went bust and they were unable to pay back the emergency loan. While their personal home was protected, banks could go after other business or personal assets and it was thought second homes might be at risk. Royal Bank of Scotland, which owns NatWest, has said it will not ask for personal guarantees for business interruption loans, heaping pressure on its rivals. George Kafetzis, a restaurant boss from Birmingham, ran into problems when he contacted Lloyds and Barclays, being told by both he would have to put his own assets on the line if he wanted to get a loan to tie him over.

Read Full Details

Topics:
  • Business
  • Financial

Wednesday, March 25


News

GTS Closes Acquisition of Barclays Equity Options Market Making Business

BARC

GTS, a leading electronic market maker across global financial instruments, today announced the completion of its acquisition of Barclays’ equities automated options trading unit. As part of the transaction, approximately 40 Barclays personnel became full-time GTS employees. Ari Rubenstein, co-founder and CEO of GTS, said, "The data-driven, pricing precision of GTS is more important than ever in today’s unpredictable and highly volatile market environment. As has been reinforced during the current crisis, superior trading technology is essential to market participants and the overall functioning of our capital markets." The new GTS options trading business is led by Kirill Gelman, who had overseen it at Barclays since 2008. Since 2016, GTS has been the largest Designated Market Maker (DMM) at the New York Stock Exchange, responsible for the trading of almost 1,000 public companies that have a total market capitalization of approximately $10 trillion dollars. Listed securities include blue chip companies ranging from ExxonMobil (NYSE: XOM) and Ford (NYSE: F) to international companies such as Alibaba (NYSE: BABA) to leading global technology companies like Oracle (NYSE: ORCL), AT&T (NYSE: T) and Pinterest (NYSE: PINS).

Read Full Details

Topics:
  • Business
  • Financial
News

Coronavirus: Barclays waiving overdraft fees until end of April

BARC

Barclays (BARC.L) is waiving overdraft fees for customers for a month in response to the ongoing novel coronavirus pandemic. “It’s crucial we offer the right support to our customers through this challenging time,” Gillean Dooney, managing director at Barclays, said in a statement. “We have therefore decided to waive all overdraft interest until the end of April, meaning there will be no charges for customers to use their arranged overdraft. Alongside the overdraft pause, Barclays on Tuesday also launched a new online form aimed at speeding up the process of applying for a mortgage payment holiday during the coronavirus crisis.

Read Full Details

Topics:
  • Business
  • Financial
  • Science
News

Aggressive lockdown may shave off growth to 2.5%: Barclays

BARC

Aggressive lockdown may shave off growth to 2.5%: Barclays. New Delhi, March 25 Government''s stringent and aggressive move of a full three-week lockdown, across the entire country to contain spread of novel coronavirus will much sharper impact on country''s GDP in the April -June quarter that what was previously anticipated, Barclays said in a research report finalised after Prime Minister Narendra Modi''s speech to the nation on Tuesday evening. In view of the changed circumstances, the bank has shaved down its calendar year (CY) 2020 GDP forecast for India from earlier 4.5 per cent to 2.5 per cent now and FY20-21 forecast to 3.5 per cent from 5.2 per cent earlier. But Barclays has also projected a recovery and rebound in CY 2021 with GDP growing by 8.2 per cent and 8.0 per cent in FY21-22. "In our baseline assumption, we now factor in four full weeks of a complete shutdown, followed by another eight weeks of partial shutdowns across the country until the end of May (of which one week has passed already), as the COVID-19 related precautions will likely remain in the system," Rahul Bajoria, Chief India Economist, Barclays wrote in a note justifying the sharp revisions.

Read Full Details

Topics:
  • Business
  • Financial

Tuesday, March 24


News

Barclays Slashes Oil Price Forecast On Demand Shock

BARC

Barclays slashed its oil price estimates for this year for the second time in two weeks, expecting WTI Crude to average $28 a barrel in 2020 due to the demand shock from the coronavirus and the supply shock from the Saudi-Russian oil price war. On Tuesday, the bank slashed by $12 a barrel its estimates for average WTI Crude price this year to $28 per barrel, and cut by the same amount--$12 a barrel--its outlook for the average Brent Crude price for 2020. “Prices are likely to remain under pressure until the virus situation turns the corner, and if we continue on the projected market balances path, even Saudi Arabia and Russia will not be immune from the price fallout,” Barclays said in a note on Tuesday, as carried by Reuters. Just two weeks ago, Barclays had cut its oil price outlook for 2020, slashing by $16 a barrel its forecast for Brent Crude to $43 a barrel from $59, and for West Texas Intermediate to $40 from $54 per barrel previously.

Read Full Details

Topics:
  • Business
  • Financial
News

Barclays Adds ESG Assessment and Indicators to Fundamental Research

BARC

"Today’s launch of Barclays’ Fundamental ESG Research is an opportunity to reflect on whether Covid-19 will accelerate this trend even further – creating a greater sense of urgency and responsibility toward everything from consumer behavior to climate change, supply-chain practices and the future of work and mobility – and potentially alter the nature of the investment process as a result." produce stand-alone reports on key topics and themes that apply this new ESG framework to industries as diverse as Oil & Gas, Pharmaceuticals, Airlines and Autos, all of which are likely to experience fundamental shifts as Covid-19 unfolds. In 2012, Barclays Research launched the Impact Series which explores the social impact of economic, demographic and disruptive changes affecting markets, sectors and society at large. In 2016, Barclays and Unreasonable Group co-founded Unreasonable Impact, an accelerator program aimed at supporting growth-stage entrepreneurs whose ventures have the potential to employ thousands of people worldwide while solving some of the world’s most pressing social and environmental challenges. And, in 2019, Barclays announced a new Sustainable and Impact Banking team; and hosted its second annual Green Frontiers event, bringing together investors and financiers to discuss the growing challenge of climate change.

Read Full Details

Topics:
  • Business
  • Financial
  • Science
News

The Zacks Analyst Blog Highlights: Royal Bank of Scotland, Barclays, HSBC, Lloyds Banking and Standard Chartered

BARC HSBA +11 more BARC HSBA HSBC STAN GBPJPY GBPTRY GBPCAD GBPZAR GBPCHF 0005 EURGBP RBS GBPUSD

Stocks recently featured in the blog include: Royal Bank of Scotland RBS, Barclays BCS, HSBC Holdings HSBC, Lloyds Banking Group LYG and Standard Chartered SCBFF. In its latest move, the Bank of England (“BoE”) canceled the 2020 annual stress test of eight major U.K. banks and building societies. “These measures will provide flexibility to help firms and FMIs maintain their safety and soundness and deliver the critical functions they provide to the economy,” the central bank said. Some other steps taken by the BoE to free firms from operational burdens amid the virus spread is the delay of a planned survey, which was to be conducted into 300 open-ended funds. Heightened fears over a recession and a global economic slowdown will likely have an adverse impact on the performance of banks as it will lead to an unimpressive lending scenario, owing to reduced business activities. However, per the resultsof the laststress test, the U.K. banking system showed lenders to be “resilient to deep simultaneous recessions in the U.K. and global economies that are more severe overall than the global financial crisis, combined with large falls in asset prices and a separate stress of misconduct costs.”.

Read Full Details

Topics:
  • Business
  • Financial
News

Barclays cuts 2020 crude forecasts by $12 on virus, OPEC+ deal collapse

BARC

Barclays cuts 2020 crude forecasts by $12 on virus, OPEC+ deal collapse. (Reuters) - Barclays on Tuesday slashed its oil price forecasts for 2020, citing considerable downward pressure on the market from a Saudi-Russian price war and demand disruption because of the coronavirus. "Prices are likely to remain under pressure until the virus situation turns the corner, and if we continue on the projected market balances path, even Saudi Arabia and Russia will not be immune from the price fallout," analysts at the bank wrote in a note. It joined several other banks in slashing their oil price forecasts on account of the collapse of an output curb deal amongst members of the Organization of the Petroleum Exporting Countries and allies, or OPEC+, as well as the demand hit from the virus.

Read Full Details

Topics:
  • Business
  • Financial