By Steve Slater LONDON, July 30 (Reuters) - British banks and financial firms could face a compensation bill of up to 33 billion pounds ($52 billion) for not being transparent about commission charges if a landmark legal ruling is applied broadly across the industry, a research firm has est
Read moreBy Anna Brunetti LONDON, July 29 (IFR) - Barclays has made significant cuts to its European ABS team due to disappointing activity in that market, a source familiar with the matter told IFR on Wednesday. The move concerns at least four members of the ABS trading team and other members
Read moreJuly 29 (Reuters) - Bank of America Corp's Merrill Lynch said it had hired two private wealth advisers from the recently sold U.S. wealth management unit of Barclays Plc . Jim Ertmann and Ben Foster will join Merrill's Private Banking & Investment Group (PBIG) from Barclays Wealth Managemen
Read moreLONDON, July 29 (Reuters) - Barclays has applied for a new UK banking licence to comply with new rules requiring it to separate its domestic retail banking arm, highlighting the bigger task it faces in restructuring than its rivals. Britain's big lenders must set up so-called ring-fenced ba
Read more* Blue-chip FTSE 100 index ends 1.2 pct higher * GlaxoSmithKline, Barclays, British American Tobacco up * Quintain Estates and Development surges 22 pct By Atul Prakash LONDON, July 29 (Reuters) - Britain's top share index advanced on Wednesday, with Hikma Pharmaceuticals
Read more* New chairman says to speed up asset sales, cost cuts * To cut assets to 20 bln stg by end-2017 vs 57 bln now * Keeps dividend flat for 2015, rules out capital raising * Shares hit 18-month high, up 2 pct (Writes through with comments from chairman, updates shares) By S
Read more(ShareCast News) - The FTSE 100 index built an early lead on Wednesday and stayed in positive territory thanks to forecast-busting results from several heavyweights in the pharma, tobacco and banking sectors. London's blue chip index was up 0.57% to 6,592.54 at 1435 BST. Top of the leaderboard mid-
Read more(Adds more detail) LONDON, July 29 (Reuters) - The Bank of England has made changes to the way banks hold capital above the mandatory minimum in an effort to increase transparency and better absorb losses in the event of a financial shock, such as a housing market crash. The BoE's Pru
Read more* Blue-chip FTSE 100 index rises 0.7 percent * Barclays, British American Tobacco advance * Quintain Estates and Development surges 23 pct By Atul Prakash and Liisa Tuhkanen LONDON, July 29 (Reuters) - Britain's top share index advanced on Wednesday, with Hikma Pharmaceuti
Read more* Austrian firm seeks to sell 30 pct stake in project * Stake estimated to fetch up to $500 million By Ron Bousso LONDON, July 29 (Reuters) - Austrian oil and gas company OMV has put up for sale a 30 percent stake in the Rosebank oil and gas project in the British North Sea, b
Read more* Blue-chip FTSE 100 index rises 0.4 percent * Barclays up 2 pct, British American Tobacco up 2.7 pct * Quintain Estates and Development surges 23.8 pct By Liisa Tuhkanen LONDON, July 29 (Reuters) - Britain's top share index rose for a second straight session on Wednesday
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