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

UK delays Libor trial of former Barclays traders

Mon, 08th Feb 2016 16:04

By Kirstin Ridley

LONDON, Feb 8 (Reuters) - British prosecutors have delayedthe start of their third Libor trial after new information wasprovided by Barclays, the former employer of the latestgroup of traders charged with conspiracy to manipulate financialbenchmark interest rates.

The Serious Fraud Office (SFO) said on Monday that thetrial, which had been scheduled to begin on Feb. 15, might bedelayed until mid-April after Barclays provided "furthermaterial" that the agency might need to review.

Reuters was unable to determine the nature of the material.British bank Barclays declined to comment and the SFO declinedto provide further detail.

The trial will mark a watershed for the SFO, which hasobtained one conviction but seen six brokers acquitted inhigh-profile prosecutions over the alleged rigging of the Londoninterbank offered rate (Libor), a benchmark for around $450trillion of financial contracts and loans worldwide.

The Barclays trial comes after former UBS andCitigroup trader Tom Hayes was convicted in August ofconspiracy to rig yen-denominated Libor. But in a separatetrial, six former ICAP, RP Martin and Tullett Prebon brokers, charged with being part of that conspiracy,walked free last month.

In its latest Libor case, the SFO has charged formerBarclays employees Peter Johnson, Jonathan Mathew, StylianosContogoulas, Jay Merchant, Alex Pabon and Ryan Reich withconspiracy to manipulate dollar Libor rates.

Hayes, meanwhile, has said he will continue to explore allavenues to try and appeal against his conviction and sentence,which has already been reduced to 11 years from 14 on appeal.

The acquittal of the brokers after one of the SFO's mostcostly prosecutions was a set-back for the agency. Although itbrought the case successfully to trial, critics accused it offocusing on relatively low-level staff.

However, three former ICAP brokers still face U.S. charges.

Daniel Wilkinson, Colin Goodman and New Zealand-basedDarrell Read, who were acquitted of conspiracy to defraud in theUK, were also charged with conspiracy to commit wire fraud andtwo counts of wire fraud by U.S. prosecutors in 2013.

It remains unclear whether the Department of Justice willpursue them following their acquittal in Britain. The DoJ hassaid it is reviewing the matter. (Additional reporting by Sarah Lynch in Washington and SineadCruise in London; Editing by Alexander Smith)

More News
10 Jan 2024 17:07

European shares end lower, with miners and travel stocks leading losses

Norway's Dec core inflation lower than expected

*

Read more
10 Jan 2024 13:00

Global activist investors pressed companies to sell or spin in 2023 as M&A dropped off

NEW YORK, Jan 10(Reuters) - "Sell" or "split" was the favorite word for activist investors across the world last year when their demands for companies to pursue some form of mergers and acquisition-related activity hit a new record and appeared in roughly half of their 2023 campaigns even as M&A activity dropped off, according to new data from Barclays.

Read more
9 Jan 2024 07:44

LONDON BRIEFING: B&M to declare special payout; strong start for Unite

(Alliance News) - Stocks in London are tipped for a solid start on Tuesday, following a strong performance on Wall Street and in Asian markets.

Read more
5 Jan 2024 09:50

IN BRIEF: Prudential to buy back 4 million shares to offset awards

Prudential PLC - London-based, Asia-focused life and health insurer and asset manager - Contracts Barclays Capital Securities Ltd, part of Barclays PLC, to conduct a share buyback programme that will repurchase about 3.9 million shares at a maximum cost of GBP38 million. At the current market price, 3.9 million Prudential shares are worth GBP32.3 million. The buybacks are intended to offset the dilution that will be caused by the vesting of awards under Prudential's employee and agent share schemes.

Read more
21 Dec 2023 12:59

Barclays extends lease on Canary Wharf headquarters until 2039

LONDON, Dec 21 (Reuters) - Barclays has signed an agreement with Canary Wharf Group (CWG) to extend the lease on its British headquarters in the financial district until 2039, CWG said on Thursday.

Read more
20 Dec 2023 09:25

LONDON BROKER RATINGS: UBS cuts DS Smith; Kepler likes Genus

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

Read more
20 Dec 2023 08:48

LONDON MARKET OPEN: Stocks feeling festive on UK, US rate cut hopes

(Alliance News) - Stock in London enjoyed a broad-based rally at Wednesday's open, as a surprise UK inflation print boosted risk sentiment, with investors pinning their hopes on UK and US interest rate cuts next year.

Read more
19 Dec 2023 16:06

UK banks face 'step change' rule to reimburse defrauded customers

LONDON, Dec 19 (Reuters) - Britain's banks and other payment firms must reimburse defrauded customers to a maximum of 415,000 pounds ($529,000) from October next year to help combat scams, the Payment Systems Regulator (PSR) said on Tuesday.

Read more
19 Dec 2023 15:11

UK banks face 'step change' rule to reimburse defrauded customers

LONDON, Dec 19 (Reuters) - Britain's banks must reimburse defrauded customers to a maximum of 415,000 pounds ($529,000) from October next year to help combat scams, the Payment Systems Regulator (PSR) said on Tuesday.

Read more
15 Dec 2023 18:12

Britain's Metro Bank decides not to sell mortgage book

LONDON, Dec 15 (Reuters) - Britain's Metro Bank said on Friday it had abandoned its planned sale of a 3 billion pound ($3.8 billion) mortgage portfolio, citing market conditions.

Read more
14 Dec 2023 12:00

Fnality completes 'world's first' blockchain payments at Bank of England

LONDON, Dec 14 (Reuters) - Fnality, a blockchain-based wholesale payments firm, said on Thursday that shareholders Lloyds Banking Group, Santander and UBS had completed the "world's first" live transactions that digitally represent funds held at a central bank.

Read more
14 Dec 2023 10:51

France's Credit Agricole to stop financing new fossil fuel projects

Vows to triple financing of renewable energy projects by 2030

*

Read more
12 Dec 2023 09:10

UK lenders face smaller impact from Basel rules than rivals, BoE says

LONDON, Dec 12 (Reuters) - The Bank of England said on Tuesday that implementing the final leg of the global Basel bank rules will increase capital requirements at UK banks by 3%, far less than for their European Union and U.S. peers.

Read more
12 Dec 2023 07:16

BoE says UK lenders to be hit less than EU, U.S. rivals by Basel capital rules

LONDON, Dec 12 (Reuters) - The Bank of England said on Tuesday that implementing the final leg of the global Basel bank rules will increase capital requirements at UK banks by 3%, less than for their European Union and U.S. peers.

Read more
7 Dec 2023 16:55

Director dealings: Barclays chair invests, York Holdings settles LSEG call options

(Sharecast News) - Nigel Higgins, the group chairman of Barclays, was on the buying side of the ledger on Thursday.

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.