Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBarclays Share News (BARC)

Share Price Information for Barclays (BARC)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 204.85
Bid: 204.75
Ask: 204.80
Change: -3.20 (-1.54%)
Spread: 0.05 (0.024%)
Open: 208.05
High: 208.90
Low: 202.90
Prev. Close: 208.05
BARC Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

CORRECTED-Three former Barclays traders in UK court on Libor rigging charges

Wed, 26th Feb 2014 15:00

(Corrects date in 6th paragraph to Mar. 3 from Feb. 3)

By Kirstin Ridley and Freya Berry

LONDON, Feb 26 (Reuters) - Three former Barclays traders appeared in a London court on Wednesday charged withrunning a two-year scheme to manipulate Libor benchmark interestrates.

The men, who spoke only to confirm personal details such as addresses, bring to six the number facing criminal charges inBritain over allegations that they rigged the London InterbankOffered Rate, against which about $450 trillion of financialproducts are pegged, from student loans to complex derivatives.

The sprawling Libor investigation, which stretches from North America to Asia and has shaken faith in the financialindustry, has so far resulted in 10 banks and brokerages beingfined a total of $6 billion and charges brought against 13individuals.

Britain's Serious Fraud Office (SFO), keen to silencecritics who have questioned its ability to secure convictionsfor complex financial crimes, alleges that the latest trioeither submitted or agreed to procure false or misleading dollarLibor rates to boost the trading positions of Barclays staff.

Peter Charles Johnson, 59, Jonathan Mathew, 33, andStylianos Contogoulas, 42, all face one count of conspiracy todefraud between June 2005 and August 2007.

The three men, whose case has been sent to the higherSouthwark Crown Court for Mar. 3, did not indicate any plea andhave been granted conditional bail.

The SFO has already charged three men as part of its Liborinvestigation, including Tom Hayes, a former yen derivativestrader at UBS and Citigroup, who pleaded notguilty in December.

Hayes is due to stand trial in January 2015 on eight chargesof conspiring with staff from at least 10 major banks andbrokerages to manipulate yen Libor rates between 2006 and 2010.

Terry Farr and James Gilmour, two brokers from RP Martin,have been charged and pleaded not guilty to similarfraud-related offences. Their trial has been scheduled forSeptember 2015, in part to allow the SFO time to bring chargesagainst further alleged co-conspirators.

(Editing by David Goodman)

More News
20 Jun 2024 08:58

TOP NEWS: Sainsbury's pays NatWest GBP125 million to take on bank arm

(Alliance News) - NatWest Group PLC on Thursday agreed to buy the retail banking assets and liabilities of Sainsbury's Bank from J Sainsbury PLC.

Read more
20 Jun 2024 08:11

NatWest swoops on retailer Sainsbury's banking business

LONDON, June 20 (Reuters) - NatWest has struck a deal to acquire most of the banking business of UK retailer Sainsbury's, the companies said on Thursday, in a deal that would increase the British lender's assets by 2.5 billion pounds ($3.2 billion).

Read more
18 Jun 2024 08:36

IN BRIEF: Melrose Industries hires former British Land CEO as chair

Melrose Industries PLC - Birmingham, England-based aerospace firm with Engines and Structures divisions that were formerly part of GKN - Hires Chris Grigg to be non-executive chair, joining the Melrose board on October 1 and taking over as chair from Justin Dowley at the end of March next year. Dowley has been in post since 2019. Grigg currently is chair of the UK Infrastructure Bank and of wealth manager Evelyn Partners. He was senior independent director of BAE Systems PLC until this past December. As an executive, he was chief executive of commercial property developer British Land Co PLC and of Barclays Commercial Bank, part of Barclays PLC.

Read more
17 Jun 2024 22:30

UK's Labour pledges to plug gaps left by bank branch closures

LONDON, June 17 (Reuters) - Britain's Labour Party said on Monday it would give regulators new powers to significantly increase the number of 'banking hubs' on high streets if voted into government next month.

Read more
17 Jun 2024 09:33

LONDON BROKER RATINGS: Goldman Sachs cuts SSP Group to 'sell'

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and on Friday:

Read more
13 Jun 2024 09:37

LONDON BROKER RATINGS: Jefferies raises Great Portland to 'hold'

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and on Wednesday:

Read more
13 Jun 2024 00:00

Revolut picks new Canary Wharf HQ as it expands headcount

LONDON, June 13 (Reuters) - Britain's Revolut is to become the first tenant in a newly refurbished building in London's Canary Wharf financial district, taking on 40% more floorspace for its new headquarters as the fintech firm accelerates hiring.

Read more
12 Jun 2024 08:47

TOP NEWS: National Grid gets 90% acceptances for GBP7 billion raise

(Alliance News) - National Grid PLC on Wednesday said it received acceptances for more than 90% of the new shares on offer as part of its GBP7.00 billion rights issue.

Read more
10 Jun 2024 15:36

Britain's payments industry calls for delay and cut in scam compensation rules

LONDON, June 10 (Reuters) - Britain's payments sector on Monday called on its regulator to roll back and delay by a year tough new compensation rules due to start in October, saying that "significant changes" were needed to avoid damaging competition.

Read more
10 Jun 2024 14:07

Britain's payments industry calls for delay and cut in scam compensation rules

LONDON, June 10 (Reuters) - Britain's payments sector on Monday called on its regulator to roll back and delay by a year tough new compensation rules due to start in October, saying that "significant changes" were needed to avoid damaging competition.

Read more
31 May 2024 08:34

UK competition watchdog probes Nationwide-Virgin Money deal

May 31 (Reuters) - Britain's competition regulator said on Friday it had started a probe into Nationwide Building Society's proposed 2.9 billion pound ($3.7 billion) all-cash deal to buy Virgin Money UK.

Read more
24 May 2024 16:45

Danske Bank and Barclays chop ECB rate cut forecasts

LONDON, May 24 (Reuters) - Danske Bank said on Friday it expects the European Central Bank only to cut interest rates twice this year, not three times, while Barclays also scrapped a call for a July reduction.

Read more
24 May 2024 08:52

TOP NEWS: Coventry Building Society buys Co-Op Bank for GBP780 million

(Alliance News) - Coventry Building Society on Friday said it has agreed to buy Co-operative Bank Holdings PLC for GBP780 million in cash, in the latest shift in the UK's banking landscape.

Read more
21 May 2024 10:47

UK Libor trader Hayes given route to appeal rate-rigging conviction at Supreme Court

LONDON, May 21 (Reuters) - Tom Hayes, the first trader jailed worldwide for interest rate rigging, was on Tuesday refused permission to appeal against his conviction at the United Kingdom's Supreme Court, but was given a potential route to clear his name.

Read more
21 May 2024 10:00

LONDON BROKER RATINGS: UBS lifts Schroders; Barclays likes Wise

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning and on Monday:

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.