Roundtable Discussion; The Future of Mineral Sands. Watch the video 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: 202.35
Bid: 202.15
Ask: 202.25
Change: 1.35 (0.67%)
Spread: 0.10 (0.049%)
Open: 202.50
High: 203.40
Low: 199.58
Prev. Close: 201.00
BARC Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Some UK finance firms mis-using 'key worker' status - union

Wed, 01st Apr 2020 17:37

* Some employers still yet to dial down to minimal
staffing-union

* Only a limited number of people shld be "key
workers"-watchdog

* Banks stepping up protections in call centres, branches

* Some staffers ditching home-working by choice

By Sinead Cruise and Huw Jones

LONDON, April 1 (Reuters) - Some financial firms are
defining an unnecessarily large proportion of staff as "key
workers" to ensure they can still come into the office or branch
to work, according to a union representing thousands of bank
employees.

Together with healthcare workers, supermarket employees and
delivery drivers, bank staff deemed vital to the stability of
the UK economy have been granted freedoms to travel to their
workplaces, under terms of a lockdown which began on March 20.

Some employers have applied the special status excessively
across their workforces, increasing risks to staff health,
according to the Unite union whose membership includes bank
branch employees and call centre workers.

"Unite cannot condone the generalisation of the "key worker
status"," Dominic Hook, national officer at Unite, said.

"There can be no operating a "business as usual"
model and the industry must heed the government measures to
enforce social distancing and isolation."

Britain's Financial Conduct Authority (FCA) declined to
comment.

Last week, the FCA warned banks that only a limited number
of people should be designated as "key workers" not only to
minimise infections but also ease the burden on schools, which
remain open to children of such staffers.

The regulator said financial services employees who are able
to securely trade shares and other financial instruments from
home should not be required to travel into work and it said that
CEOs of banks would be directly accountable for ensuring they
have a proper process for designating individuals as "key
workers".

Industry trade group UK Finance did not immediately respond
to a request for comment.

Barclays, HSBC, Royal Bank of Scotland
and Lloyds have reduced the opening hours of
many branches and have encouraged customers to bank online to
reduce strain on frontline staff, many of whom now work behind
plastic screens and run queuing systems to minimise exposure.

"We have put in place homeworking arrangements for our
colleagues where it is possible to do so and social distancing
measures in the workplace where homeworking is not possible," a
spokesman for HSBC said.

Call centre staff unable to work from home are working at
safe distances from colleagues in premises that are regularly
deep-cleaned, financial industry sources said, without
quantifying how many or what proportion of their workforces have
been classed as "key workers".

Trading floors and investment banking operations were
running with the smallest numbers of office-based staff possible
to meet regulatory requirements, the sources added, without
quantifying how many or what proportion of their workforces
still come into the office.

"The health and wellbeing of colleagues and customers is our
priority, and we continue to follow UK government advice to
ensure everyone remains safe," a spokeswoman for Lloyds said,
echoing similar statements from Barclays and Royal Bank of
Scotland.

One currencies analyst at a large bank estimated 20% of
staff on his floor were in the London office, including several
from research.

The bank had given those staff the option to work from home,
but the analyst decided to come in after two frustrating weeks
of working from home.

"It’s just easier to be here," the analyst said, declining
to be named.

Some lawyers warned banks needed to be vigilant about the
potential reputational damage from having too many employees
travelling into work.

"Firms need to remember that, to the public, saying they are
a "key worker" is saying they are important like a nurse," said
Rob Moulton, a financial services lawyer at Latham & Watkins.
(Additional reporting by Tommy Wilkes. Editing by Carmel
Crimmins.)

More News
25 Apr 2024 07:56

REPEAT: Miner Anglo American reviews takeover bid from rival BHP

(Alliance News) - Stocks in London are called to open slightly higher, after a busy start to the day, with corporate earnings and updates.

Read more
25 Apr 2024 07:43

LONDON BRIEFING: Miner Anglo American eyes rival BHP takeover

(Alliance News) - Stocks in London are called to open slightly higher, after a busy start to the day, with corporate earnings and updates.

Read more
25 Apr 2024 07:01

Barclays Q1 profits fall 12%

(Sharecast News) - Barclays Bank reported a 12% fall in first-quarter profit on lower income as customers shopped around for better savings rates and mortgage deals.

Read more
24 Apr 2024 22:47

Microsoft-backed Rubrik prices IPO above range at $32 per share, source says

NEW YORK, April 24 (Reuters) - Rubrik, the cybersecurity software startup that counts Microsoft among its investors, priced its initial public offering at $32 per share on Wednesday above its indicated price range, according to a person familiar with the matter.

Read more
24 Apr 2024 19:38

Barclays takes EUR260 million loss from Italian mortgage book sale

(Alliance News) - Barclays PLC on Wednesday said it would book a EUR260 million pretax loss after agreeing the disposal of its Italian mortgage portfolio.

Read more
24 Apr 2024 11:57

Thursday preview: US Q1 GDP, Barclays in focus

(Sharecast News) - Investors' attention on Thursday will be on a first reading for U.S. gross domestic product growth during the first quarter.

Read more
23 Apr 2024 13:26

Gazprom subsidiary ordered to stop Russian lawsuit against UniCredit

LONDON, April 23 (Reuters) - A subsidiary of Russia's Gazprom was on Tuesday ordered by the UK's Supreme Court to stop suing Italian bank UniCredit in Russia over an aborted gas project.

Read more
23 Apr 2024 08:26

Britain's FTSE 100 blue-chip stock index hits record high

LONDON, April 23 (Reuters) - Britain's blue-chip FTSE 100 index hit a record high on Tuesday, following last week's sharp selloff, as fears of the Middle East crisis escalating eased and investors looked ahead to top U.S. earnings later in the week.

Read more
23 Apr 2024 07:59

Citi remains 'overweight' UK banks; HSBC and Barclays 'top picks'

(Sharecast News) - Citi said on Tuesday that it remains 'overweight' UK banks, with HSBC and Barclays its top picks, but Standard Chartered its least preferred.

Read more
22 Apr 2024 09:04

LONDON BROKER RATINGS: Jefferies raises B&M to 'hold'

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

Read more
19 Apr 2024 09:26

LONDON BROKER RATINGS: Peel Hunt starts NatWest and Barclays at 'buy'

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

Read more
19 Apr 2024 08:49

LONDON MARKET OPEN: European stocks slump amid Middle East escalation

(Alliance News) - London's FTSE 100 traded lower in early exchanges, with sentiment hurt by worries of a conflict escalation in the Middle East, after state media in Iran reported explosions.

Read more
18 Apr 2024 14:17

UK earnings, trading statements calendar - next 7 days

Friday 19 April 
888 Holdings PLCTrading Statement
Man Group PLCTrading Statement
Monday 22 April 
Brave Bison Group PLCFull Year Results
Elixirr International PLCFull Year Results
Frenkel Topping Group PLCFull Year Results
Mobico Group PLCFull Year Results
South32 LtdQ3 Results
Ten Lifestyle Group PLCHalf Year Results
Tuesday 23 April 
Alliance Pharma PLCFull Year Results
Alphawave IP Group PLCFull Year Results
Anglo American PLCTrading Statement
ASA International Group PLCFull Year Results
Associated British Foods PLCHalf Year Results
Eleco PLCFull Year Results
GB Group PLCTrading Statement
Jupiter Fund Management PLCTrading Statement
Maintel Holdings PLCFull Year Results
Property Franchise Group PLCFull Year Results
Taylor Wimpey PLCTrading Statement
tinyBuild IncFull Year Results
Trellus Health PLCFull Year Results
Wednesday 24 April 
1Spatial PLCFull Year Results
abrdn PLCTrading Statement
Ecora Resources PLCTrading Statement
Fresnillo PLCTrading Statement
Lloyds Banking Group PLCQ1 Results
Nichols PLCTrading Statement
PensionBee Group PLCFirst Quarter Results
PZ Cussons PLCTrading Statement
Reckitt Benckiser Group PLCTrading Statement
Sanderson Design Group PLCFull Year Results
Serica Energy PLCFull Year Results
Star Energy Group PLCFull Year Results
Tortilla Mexican Grill PLCFull Year Results
Tracsis PLCHalf Year Results
Warpaint London PLCFull Year Results
Thursday 25 April 
Aquila European Renewables PLCFull Year Results
Argo Blockchain PLCFull Year Results
AstraZeneca PLCQ1 Results
Barclays PLCQ1 Results
Checkit PLCFull Year Results
Coca-Cola Europacific Partners PLCTrading Statement
Destiny Pharma PLCFull Year Results
Hikma Pharmaceuticals PLCTrading Statement
Focusrite PLCHalf Year Results
Ibstock PLCTrading Statement
Inchcape PLCTrading Statement
J Sainsbury PLCFull Year Results
London Stock Exchange Group PLCQ1 Results
Persimmon PLCTrading Statement
PPHE Hotel Group LtdTrading Statement
PureTech Health PLCFull Year Results
Relx PLCTrading Statement
Renewi PLCTrading Statement
Schroders PLCQ1 Results
Skillcast Group PLCFull Year Results
Travis Perkins PLCTrading Statement
Trifast PLCTrading Statement
Unilever PLCQ1 Results
WAG Payment Solutions PLCTrading Statement
Weir Group PLCTrading Statement
WH Smith PLCHalf Year Results
WPP PLCTrading Statement
Zinc Media Group PLCFull Year Results
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

Read more
12 Apr 2024 08:55

UK regulator struggles to obtain data for motor financing probe

(Alliance News) - The UK Financial Conduct Authority on Friday said it has reminded motor financing companies to maintain adequate financial resources at all times as it continues its review of their activities.

Read more
12 Apr 2024 07:59

UK banks must prepare for car finance claims, says watchdog

LONDON, April 12 (Reuters) - British lenders have been told by the Financial Conduct Authority (FCA) to ensure they are adequately prepared to meet the potential costs of customer complaints arising from its review into the motor finance industry.

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.