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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: 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
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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)

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7 Dec 2023 15:35

IN BRIEF: Barclays Chair Nigel Higgins buys 200,000 shares

Barclays PLC - London-based consumer, business and investment bank - Chair Nigel Higgins buys 200,000 shares at GBP1.3867 each, worth GBP277,340, in London on Thursday.

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5 Dec 2023 15:26

London close: Stocks mixed as investors mull fresh data

(Sharecast News) - London's financial markets finished with a mixed performance on Tuesday as investors considered key economic data and developments from both sides of the Atlantic.

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5 Dec 2023 09:05

LONDON MARKET OPEN: FTSE 100 struggles after Moody's warning on China

(Alliance News) - London's FTSE 100 got off to a slow start on Tuesday, with miners falling amid fears for the Chinese economy, while Barclays shares fell after Bloomberg reported Qatar is trimming its stake in the lender.

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5 Dec 2023 08:01

Qatar almost halves stake in Barclays

(Sharecast News) - Banking giant Barclays was in the red early on Tuesday after its largest shareholder made moves to offload roughly £510.0m in shares.

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Lloyds to shut 45 branches

(Sharecast News) - Lloyds Banking Group is to shut another 45 branches, it was confirmed on Thursday, as lenders continue to downsize their estates.

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28 Nov 2023 15:40

Barclays axes 900 staff in "disgraceful" pre-Christmas move - UK union

(Alliance News) - Banking firm Barclays PLC is cutting 900 jobs in its UK business as it looks to slash costs in a "disgraceful" pre-Christmas move, trade union Unite has said.

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28 Nov 2023 15:30

London close: Stocks slip after mountain of broker notes

(Sharecast News) - London's stock markets finished in the red on Tuesday as investors deliberated over the latest shop price data, as well as a deluge of broker notes.

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28 Nov 2023 08:52

PRESS: Barclays eyes dropping quarter of investment bank clients - FT

(Alliance News) - Barclays PLC is exploring the possibility of dropping thousands of its investment bank clients - a quarter of its total - amid a strategic overhaul to bolster its bottom line and cut GBP1 billion of costs, the Financial Times reported on Tuesday.

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28 Nov 2023 07:56

Barclays considers dropping thousands of investment banking clients - report

(Sharecast News) - Barclays is reportedly exploring a plan to drop thousands of clients at its investment bank as part of a strategic overhaul that is meant to boost profits and cut £1bn of costs.

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28 Nov 2023 07:42

LONDON BRIEFING: Rolls-Royce plans disposals, sets out 2027 targets

(Alliance News) - Stocks in London are called lower on Tuesday, with a stronger pound likely to weigh on the FTSE 100.

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27 Nov 2023 17:16

UPDATE: Metro Bank negotiating sale of mortgage book to Barclays - Sky

(Alliance News) - Metro Bank Holdings PLC is in talks to sell a GBP3 billion mortgage portfolio to Barclays PLC as part of its restructuring process in a bid to prevent collapse.

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27 Nov 2023 13:44

Barclays in talks to acquire mortgage portfolio from Metro Bank

(Sharecast News) - Banking giant Barclays has entered exclusive talks to acquire a large portfolio of residential mortgages from high street lender Metro Bank as it seeks approval for a wider refinancing aimed at saving it from collapse.

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27 Nov 2023 13:26

PRESS: Metro Bank negotiating sale of mortgage book to Barclays - Sky

(Alliance News) - Metro Bank Holdings PLC is in talks to sell a GBP3 billion mortgage portfolio to Barclays PLC as part of its restructuring process in a bid to prevent collapse.

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27 Nov 2023 12:54

IN BRIEF: Argo Blockchain hires former CBOE Digital chief to be CEO

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