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Pin to quick picksBarclays Share News (BARC)

Share Price Information for Barclays (BARC)

London Stock Exchange
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Share Price: 213.25
Bid: 213.05
Ask: 213.15
Change: 1.60 (0.76%)
Spread: 0.10 (0.047%)
Open: 215.00
High: 215.00
Low: 211.90
Prev. Close: 211.65
BARC Live PriceLast checked at -

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German tax fraud mastermind handed further 8-year jail sentence

Tue, 30th May 2023 13:30

WIESBADEN, Germany, May 30 (Reuters) - Hanno Berger, a former tax inspector turned legal tax expert, was sentenced on Tuesday to eight years and three months in jail by a court in Wiesbaden, as the nation comes to terms with one of its biggest post-war frauds.

Berger had already been sentenced to eight years in jail in December after a similar trial. He has been the most high-profile professional to be convicted after sprawling investigations into the cum-ex dividend stripping scheme, which some experts estimate has cost German taxpayers around 10 billion euros ($11.01 billion).

Berger, who fled to Switzerland in 2012 before being extradited to Germany in February, was accused of having caused tax damage of around 113 million euros with cum-ex transactions from 2006 to 2008.

The public prosecutor had demanded a prison sentence of 10 and a half years and the confiscation of assets.

Germany and Denmark are leading cross-border investigations into the trading scheme, which involved banks and investors claiming multiple bogus tax rebates on dividends, aided by now-closed loopholes in their tax systems and the failure of authorities to spot and halt the practice.

Berger's sentences follow nearly a decade of investigations that government officials say span around 1,500 suspects and 100 banks on four continents.

The scandal has sparked a public and political outcry as ordinary Germans face a cost-of-living crisis.

Authorities have raided the German branches of companies including Barclays, Bank of America, JP Morgan and Morgan Stanley in their investigations. All four banks have said they are cooperating with inquiries.

In September, Bank of New York Mellon Corp, Germany's Warburg Group and Deutsche Bank said they would pay a combined 60 million euros to tax authorities over the scandal. ($1 = 0.9084 euros) (Reporting by Patricia Weiss; writing by Tom Sims, editing by Kirsti Knolle and Miranda Murray)

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26 Jan 2024 17:39

Texas bans Barclays from local govt debt business over ESG concerns

NEW YORK, Jan 26 (Reuters) - Texas Attorney General Ken Paxton on Friday said Barclays bank would not be permitted to underwrite municipal bonds after failing to respond to questions from state authorities about its pledges to cut greenhouse gas emissions.

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26 Jan 2024 17:08

Texas bans Barclays from local debt business over ESG concerns

NEW YORK, Jan 26 (Reuters) - Texas Attorney General Ken Paxton said on Friday that Barclays bank would not be permitted to underwrite municipal bonds after failing to respond to questions from state authorities about its carbon emissions reduction commitments.

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25 Jan 2024 10:36

BoE says 'ring fencing' capital rules for retail banks need no big overhaul

LONDON, Jan 25 (Reuters) - The Bank of England said on Thursday that its rules requiring banks to "ring fence" their retail arms with bespoke buffers of capital have worked satisfactorily with no major overhaul needed.

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25 Jan 2024 10:05

Bank of England says 'ring fencing' capital rules for retail banks need no major overhaul

LONDON, Jan 25 (Reuters) - The Bank of England said on Thursday that its rules requiring banks to "ring fence" their retail arms with bespoke buffers of capital have worked "satisfactorily" with no major overhaul needed.

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23 Jan 2024 12:37

UK Chancellor Hunt meets top UK bank heads over plans to boost City

(Alliance News) - Jeremy Hunt has met the UK's biggest banks as part of efforts among the government to boost interest in the City.

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22 Jan 2024 17:14

European shares rise as Wall Street rallies; ECB decision in focus

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22 Jan 2024 16:59

London stocks climb as homebuilders shine, China weakness drags miners

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22 Jan 2024 08:34

LONDON MARKET OPEN: FTSE 100 follows New York into the green

(Alliance News) - Stock prices in London opened higher on Monday, propelled by gains on Wall Street at the end of last week.

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19 Jan 2024 09:28

LONDON BROKER RATINGS: BofA cuts Pearson, raises Just Eat Takeaway

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

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18 Jan 2024 14:33

Britain's finance minister Hunt to quiz bank bosses on UK lending

LONDON, Jan 18 (Reuters) - Britain's finance minister Jeremy Hunt will meet the bosses of top British banks next Tuesday to seek reassurance they can keep lending to the economy, four sources familiar with the matter said on Thursday.

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18 Jan 2024 09:26

Sainsbury's to gradually withdraw from banking

LONDON, Jan 18 (Reuters) - British supermarket Sainsbury's said on Thursday it would wind down its banking business and instead offer financial products through third parties, as part of a strategy to focus on its core retail operations.

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17 Jan 2024 18:39

Bank CEOs, huddled in private in Davos, worry about competition, economy - sources

DAVOS, Jan 17 (Reuters) - Bank CEOs meeting in private at the World Economic Forum on Wednesday aired concerns about the competitive risks from fintech firms and private lenders, and complained about onerous regulations, a source familiar with the matter said.

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16 Jan 2024 12:51

Ex-Barclays duo agree Panmure and Liberum investment bank merger

Jan 16 (Reuters) - Former Barclays veterans Bob Diamond and Rich Ricci have agreed an all-share merger of Panmure Gordon and UK rival Liberum, the firms said on Tuesday, creating Britain's largest independent investment bank amid an extended dealmaking slump.

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16 Jan 2024 09:14

LONDON BROKER RATINGS: UBS raises GSK and cuts AstraZeneca

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

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16 Jan 2024 08:21

TOP NEWS: Panmure Gordon and Liberum merge to "reinvigorate" UK market

(Alliance News) - City brokers Panmure Gordon and Liberum on Tuesday said they have agreed an all-share merger that will create the "UK's largest independent investment bank" with over 250 quoted corporate clients.

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