Did anyone read the Daily Mail Yesterday the reading looked very , very bad RBS they have billions of Toxic debt , litigation and PPI a great deal more than Barclays who in comparison look lily white. I would be extremely worried if had significant holdings in RBS. After the massive jump on Friday I can only see one direction tomorrow. A swift move back South I would be on the phone first thing selling all I held. I may be wrong but I doubt it !! Good luck if your invested in RBS as well as Barclays . Let's hope Barclays has a similar SP hike also the Dark pool seems like it's going to be thrown out as you could virtually apply the rules to any bank and the same would apply. Good luck Fellow Blue Eagles our wings are getting ready to be spread.
More or less what I was expecting hopefully others as well! Lloyds expected up 25% so hoping this is the last of the bad news coming through now. "Barclays, however, is set to post a 20% drop in profits — hit, in part, by the huge costs of a restructuring in which 19,000 jobs are being cut. Antony Jenkins, the chief executive, is expected to say that his Transform programme has cost more than £660m in the first six months of the year. Profits are expected to dive from £3.6bn last year to £2.9bn.
Barclays’ profitability is dictated primarily by the performance of its giant investment bank — and all big banks have suffered huge drops in trading volumes this year, partly due to central bank policies. Promises from the Bank of England, US Federal Reserve and European Central Bank to keep interest rates low have killed trade in many derivatives.
Barclays is also expected to take charges running to several hundred million pounds to cover the costs of PPI mis-selling, and other regulatory problems such as the mis-selling of interest rate swaps to small businesses."
Been following this board for nearly a year. Have a decent holding in Barclays for a young investor, SUFCESSEX you've been good to have as a positive voice amongst the doom. Fingers crossed for a bounce from the result to get me above my 2.40 break even point!
NEW YORK, July 26 (Reuters) - A deal to resolve a U.S. regulator's claims against Goldman Sachs Group Inc over mortgage-backed securities sold to Fannie Mae and Freddie Mac leading up to the financial crisis could cost the bank between $800 million and $1.25 billion, according to a person familiar with the matter.
The person said Goldman Sachs is discussing a settlement with the Federal Housing Finance Agency (FHFA), which filed 18 lawsuits against Goldman and other banks in 2011 over about $200 billion in mortgage-backed securities that later went sour.
Goldman Sachs and the FHFA declined to comment on Saturday.
The upper end of the range matches the amount Morgan Stanley agreed to pay in February to resolve the FHFA's claims against it. The person familiar with the matter said the negotiations are still ongoing, and the final amount of any deal remains fluid. The person was not authorized to speak publicly on the matter.
The Wall Street Journal first reported the settlement talks.
The FHFA has recovered $16.1 billion in agreements with other banks . Goldman is among four banks still facing FHFA mortgage-related lawsuits, along with HSBC Holdings PLC , Nomura Holdings Inc and Royal Bank of Scotland Group PLC.
On Wednesday, Goldman, HSBC and Noumra argued that U.S. District Judge Denise Cote in New York, who is overseeing the litigation, should reconsider her decision that the agency did not wait too long in suing the banks. The renewed bid to dismiss the lawsuits based on timeliness issues stemmed from a June ruling from the U.S. Supreme Court. The court ruled in an environmental case that a federal law did not preempt a state-law statute that placed time limits on bringing a lawsuit that applied even if a plaintiff did not know it had a claim.
But Cote warned the banks on Wednesday they faced a "steep hill to climb."
Goldman Sachs and HSBC are scheduled to face trial Sept. 29. A trial in the Nomura case is due for Jan. 26, 2015.
The case is Federal Housing Finance Agency v. HSBC North America Holdings Inc, U.S. District Court, Southern District of New York, No. 11-6189. (Reporting by Lauren Tara LaCapra; Additional reporting by Nate Raymond; Writing by Joseph Ax; Editing by Bernard Orr)
Its their pay in shares and they have to pay tax just like other people. New rules to ensure that they act responsibly as tied in. Directors Shares held before the transaction Date of transaction Shares allocated to PDMR2 Price per Share allocated Shares deducted to cover tax liabilities2 on Role Based Pay Balance of Shares held
Directors A B C A+B-C
A Jenkins1 - Role Based Pay 3,935,310 30.06.14 221,197 2.1474 +103,963
I'm unsure about the tax implication (previous replies but thanks)...why not keep the money in reserve & simply pay the tax when due?, & doesn't it fall due in the next tax year? What I am trying to determine is : Are the directors "betting" their OWN money with these deals? Put to one side scrip dividends or options, is this their own money...and I THINK IT IS !. Love xxx
BUT INHO Barclays today Are Bargain of the century .. its amazing we are 218p honest unbelievable
Over cooked and over sold dog 24/7 by the bloody media and yes I will be still waiting for 450p to 550p as planned in Sept 2013 , before I cash in my spread eagle shares ( Personnel Pension ) PS I hold 2 company pensions as well ... basically its MY own Money that the HMG cannot touch I save as I go ..lol
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