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Share Price Information for Barclays (BARC)

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Share Price: 202.00
Bid: 202.40
Ask: 202.50
Change: -3.15 (-1.54%)
Spread: 0.10 (0.049%)
Open: 205.75
High: 206.10
Low: 197.68
Prev. Close: 205.15
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Monday newspaper round-up: Barclays, RBS, Cyprus bailout...

Mon, 21st Jan 2013 06:56

Barclays was hit by further damaging revelations about the culture that was allowed to flourish in certain parts of the bank yesterday after it emerged that a senior executive had suppressed a damaging report into Barclays Wealth in America. The report, compiled by consultancy firm Genesis Ventures, was said by a Sunday newspaper to have sharply criticised a "revenue at all costs" strategy and a "culture that is high-risk and actively hostile to compliance". Management was said to have "ruled with an iron fist", acting to remove "any intervention from those who speak up in opposition". Genesis Ventures' report was initially only supplied to Andrew Tinney, chief operating officer of the private investment division, and he suppressed it. His departure was announced to staff in an email a week ago, and it is understood he did not receive a pay-off. [The Independent]It sounds like such fun. A Royal Bank of Scotland trader quips "hahaha" in a series of jovial electronic exchanges as he goes about his work. But it will soon become clear that however much fun the trader felt he was having, the repercussions for the bailed-out bank will be anything but when it is hit with a staggering £500m or so in fines for manipulating Libor. Ever since Barclays was fined £290m in June for rigging the benchmark interest rate, Stephen Hester, the RBS chief executive, has been softening the ground for the bailed-out bank to suffer a similar - or worse - humiliation by regulators on both sides on Atlantic. [The Guardian]The long-delayed bailout of Cyprus is set to be pushed back at least two more months amid mounting disagreement over how to bring down the cost to a manageable level for the debt-laden government. Although fears Cyprus would run out of cash have dissipated after it tapped previously off-limits cash reserves and Russia showed willingness to delay repayment on a €2.5bn loan, officials said the delay until late March would push Nicosia to the edge of its ability to fund government and banking operations. Publicly, Cypriot leaders said the delay was due to a protracted review of its teetering banking sector's capital needs, which California-based investment group Pimco began in September. [Financial Times]More than 100 energy companies, charities and businesses have joined forces to warn David Cameron that Britain is heading for a fuel poverty crisis owing to a failure of government policy. In a letter to the Prime Minister, seen by The Times, they argue that ministers are not doing enough to tackle soaring gas and electricity bills that leave a growing number of people unable to heat their homes. An unprecedented alliance, including Npower, the Co-operative, Age UK and Barnardo's, urges Mr Cameron to use money raised from the "carbon tax" to be levied from April to tackle the "national disgrace" of cold homes. A programme to fit houses with proper insulation would, they say, protect the vulnerable, help the environment and boost the economy. [The Times]BP's new alliance with Rosneft, the Kremlin-controlled oil group, has threatened to undermine its position in Azerbaijan, The Times has learnt. Bob Dudley, BP's chief executive, flew to Baku, the Azeri capital, just before Christmas to reassure the Government that the company remained committed to the oil and gas-rich Central Asian state. His visit came after the announcement in October of BP's $28 billion sale of its stake in the TNK-BP joint venture to Rosneft. BP holds a 20 per cent stake in Rosneft, will take two seats on its board and is expected to appoint at least one Russian to its board. However, executives at Socar, Azerbaijan's state-run oil and gas group, raised strong concerns that the Rosneft deal would allow the Kremlin to exert indirect influence through the British company. [The Times]The Government must do more than "muddle through" if it is to pull Britain out of its economic hole, economists warned today, ahead of figures expected to show the UK is veering towards a triple-dip recession. The Coalition lacks imagination on how to stimulate the economy, leaving countries like the US to stage a faster and sharper rebound from the worst financial crisis since the 1930s according to the Ernst & Young ITEM Club. "The UK has crawled out of recession but the government's mid-term report card should read 'could do better'," said Peter Spencer, chief economic advisor to ITEM.[The Telegraph]Dell could be taken private in a $22bn (£14bn) deal this week as the mounting crisis in the PC market forces one of the world's largest technology companies to switch from making computers to providing information technology services. The buyout, led by private equity group Silver Lake Management and Dell's founder and chief executive, Michael Dell, would be the largest leveraged takeover since the banking crisis struck in 2007. [The Guardian]The London-based insurance broker Aon is helping 250 of its highly paid staff avoid 50% income tax by deferring bonus payments until the new tax year. Other top brokers, including Willis, are also considering whether to allow their staff to postpone payments until after 6 April when the top rate of income tax falls to 45%. Just days after the investment bank Goldman Sachs was forced to back down on its own plans to defer bonuses, it has emerged that Aon has put mechanisms in place to delay payments for its employees so they pay income tax at 45%. The move allows an executive expecting a £200,000 payout to save £10,000 in tax. [The Guardian]Scotland has seen the second largest increase in shopper numbers in the UK, according to figures today which point to signs of life on the nation's high streets. The number of people visiting stores was 6.2 per cent higher last month than in December 2011, according to the Scottish Retail Consortium/Springboard "footfall monitor". Scotland was just one of four areas of the UK to record an increase in the volume of shoppers, and was second only to the West Midlands, where there was a 10 per cent rise. [The Scotsman]
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27 Mar 2024 13:44

Libor trader Hayes loses appeal against rate-rigging conviction

LONDON, March 27 (Reuters) - Tom Hayes, the first trader in the world to be jailed for interest rate rigging, lost his appeal against his conviction on Wednesday, a decision he said he would seek to challenge at the UK's Supreme Court.

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27 Mar 2024 13:17

UK dividends calendar - next 7 days

Thursday 28 March 
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Idox PLCex-dividend payment date
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Friday 29 March 
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Monday 1 April 
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Tuesday 2 April 
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Wednesday 3 April 
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27 Mar 2024 11:45

UK Libor trader Hayes loses appeal against rate-rigging conviction

LONDON, March 27 (Reuters) - Tom Hayes, the first trader jailed worldwide for interest rate rigging, lost his appeal against his conviction in a London court on Wednesday.

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26 Mar 2024 09:40

LONDON BROKER RATINGS: Dr Martens cut to 'sell'; BofA likes Tullow

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

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21 Mar 2024 11:45

Citi, Barclays set to trim investment banking headcounts

(Sharecast News) - Banking giants Barclays and Citigroup were reportedly gearing up to trim their investment banking workforce, it emerged on Thursday, amid a slowdown in dealmaking activity within the sector.

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14 Mar 2024 09:51

LONDON BROKER RATINGS: Kepler Cheuvreux likes Diageo; BofA lifts Man

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

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12 Mar 2024 08:42

UPDATE: York consortium sells call options over 10 million LSEG shares

London Stock Exchange Group PLC - London-based stock market operator and data provider - JP Morgan Securities PLC on Tuesday confirms that BCP York Holdings LP sold call options over around 10 million voting shares in LSEG, having announced plans to do so after the London market close on Monday. The call options were sold to Barclays Bank PLC, Merrill Lynch International, Citigroup Global Markets Ltd, Goldman Sachs International, JP Morgan Securities PLC and Morgan Stanley & Co International PLC. The call option shares represent around a 1.9% economic and voting interest in LSEG. BCP York is an entity owned by a consortium of certain investment funds affiliated with Blackstone Inc, and including an affiliate of Canada Pension Plan Investment Board, an affiliate of GIC Special Investments Pte Ltd, Thomson Reuters Corp and certain other minority holders. Thomson Reuters didn't participate in the call option transaction.

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11 Mar 2024 19:21

IN BRIEF: Consortium to sell call options over 10 million LSEG shares

London Stock Exchange Group PLC - London-based stock market operator and data provider - JP Morgan Securities PLC says BCP York Holdings LP intends to sell call options over around 10 million voting shares in LSEG. Shares to be sold to Barclays Bank PLC, Merrill Lynch International, Citigroup Global Markets Ltd, Goldman Sachs International, JP Morgan Securities PLC and Morgan Stanley & Co International PLC. The call option shares represent around a 1.9% economic and voting interest in LSEG. BCP York is an entity owned by a consortium of certain investment funds affiliated with Blackstone Inc, and including an affiliate of Canada Pension Plan Investment Board, an affiliate of GIC Special Investments Pte Ltd, Thomson Reuters Corp and certain other minority holders. Thomson Reuters will not participate in the call option transaction.

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1 Mar 2024 15:06

London close: Stocks start the month with positive close

(Sharecast News) - London's financial markets finished in positive territory on Friday, with investor sentiment buoyed by the recent easing of inflation in the United States, as market participants mulled the latest manufacturing data from the UK.

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1 Mar 2024 10:08

IN BRIEF: AB Foods appoints Barclays to run GBP250 million buyback

Associated British Foods PLC - London-based food and ingredient company and owner of fast-fashion retailer Primark - Enters agreement with Barclays Capital Securities Ltd to run the second tranche of AB Food's GBP500 million share buyback programme. The second tranche will be for up to GBP250 million and commence following the completion of the first tranche of the programme, expected before May 1. The first tranche, conducted by UBS Group AG, commenced on November 14. All shares repurchased will be cancelled.

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29 Feb 2024 16:05

London close: Stocks finish positive as US inflation moderates

(Sharecast News) - London's stock markets finished with moderate gains on Thursday, buoyed by a combination of factors including a slowdown in US inflation, robust UK earnings reports, and encouraging mortgage approvals figures.

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27 Feb 2024 16:08

Barclays to sell $1.1bn of card debt to Blackstone - report

(Sharecast News) - Barclays has agreed to sell around $1.1bn of credit-card receivables in the US to Blackstone as it looks to reduce its risk-weighted assets and create additional lending capacity.

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27 Feb 2024 11:33

IN BRIEF: Faruqui of Barclays named new Takeover Panel head

Barclays PLC - London-based bank - Omar Faruqui, "one of Barclays' most experienced advisory practitioners," is named as next director general of the UK's Takeover Panel, effective from May 1. Faruqui is Barclays' co-head of Europe, Middle East & Africa Mergers & Acquisitions; co-head of UK Advisory; and on the management team of EMEA Investment Banking. After taking up the director general post, he will be on a two-year secondment from Barclays.

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27 Feb 2024 09:23

LONDON BROKER RATINGS: Barclays raises Flutter to 'overweight'

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

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26 Feb 2024 09:07

LONDON BROKER RATINGS: Jefferies raises ITM Power to 'buy'

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

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