The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Barclays is first among the banks to present its annual results next week, as lenders hope to firmly put PPI behind them.
Analysts expect profit before tax to reach £6.048 billion at Barclays in the 2019 financial year when it reports on Thursday, up from £5.7 billion a year before, according to consensus figures compiled by the bank.
It's nice to read some positive news on Barc for a change
ZURICH/FRANKFURT, Nov 21 (Reuters) - Private equity group Warburg Pincus is working with Goldman Sachs and Barclays on the planned 2020 sale or initial public offering of Swiss banking software company Avaloq.
Nov 20 (Reuters) - Canada's Teck Resources Ltd has hired Barclays to sell all of its 80% stake in its Zafranal copper asset in Peru.
I cant help but think this share will be going even lower, there's been no real recovery at all, just keeps dropping further. With a no deal in brexit come end of October could easily take this close to the £1 mark, scary thought.
Think we will see a similar drop tomorrow as we did today. Results are not very impressive from what I have read.
COULD WE SEE THIS NOW UNDER £2
Barclays has reported a profit of £3.5bn for 2018, unchanged on the previous year.
Its UK business took a charge of £150m for "anticipated economic uncertainty" related to Brexit.
The bank's chief executive Jes Staley said 2018 had been a "very significant" year, with several issues resolved.
Last year it took charges of £2.2bn to cover legal issues and fines, including a large settlement with US regulators and, in the UK, compensation over PPI.
Include the 2.2bn to the 3.5bn, guess its pretty good.
Lloyds could have paid a special divi but opted for buyback of shares. We will not really see any difference as there are way to many shares. It would take a decade or more of buybacks every year. RBS consolidated their shares 10/1 hence them now paying a special divi.
This certainly makes some interesting reading......
Barclays is set to reveal a steep fall in annual profits on Thursday, adding to the banking giant’s headaches as it comes under pressure from an activist investor.
The lender is expected to report pre-tax profits of £2.94 billion, down 17% from £3.54 billion in 2017, as it counts the cost of litigation and conduct charges, according to analysts at Morgan Stanley.
It comes as Barclays faces the threat of activist investor Edward Bramson muscling his way on to the board, ramping up calls for the lender to curtail its investment arm and increase returns for investors.
Mr Bramson’s investment vehicle Sherborne Investors – through which the New York-based investor has built a 5.5% stake – has submitted a resolution to Barclays to be considered at the annual general meeting on May 2 to appoint him to the board of directors.
The annual results also come amid the high-profile criminal trial against ex-Barclays boss John Varley and three of his former colleagues over emergency fundraising from Qatar at the height of the financial crisis.
The UK’s Serious Fraud Office (SFO) claims the four men secretly paid £322 million to Qatar in return for its investment in two capital calls, which allowed Barclays to escape a UK government bailout in 2008.
Varley, Roger Jenkins, Richard Boath and Tom Kalaris all deny wrongdoing.
The bank’s results will show a hit from litigation and mis-selling costs, after this sent half-year profits slumping 29% to £1.7 billion.
Its interims were knocked by further payment protection insurance (PPI) costs and a £1.4 billion settlement with US authorities over its sale of mortgage-backed securities in the lead-up to the financial crisis.
But with these charges stripped out, analysts are expecting annual profits to rise 23% to £5.83 billion.
The figures also follow a difficult earnings season for its Wall Street counterparts, which were knocked by turbulent markets and a sharp fall in bond and currency trading revenues over the final quarter of 2018.
JP Morgan figures were lower than expected after a 16% hit to fixed income revenues, while Citigroup also suffered.
This could also take its toll on Barclays’ investment banking arm in the fourth quarter of 2018, although the wider group is expected to post a 19% rise in underlying pre-tax profits to £566 million.
The results cap a difficult year for chief executive Jes Staley after he was fined £642,430 by regulators in May as punishment for attempting to unmask a whistleblower, while he also saw £500,000 in bonuses clawed back over the matter.
And 2019 looks set to be equally challenging as he prepares for a battle with Mr Bramson and the headache of an impending Brexit.
Hi i just received a call from a company called waterfield group and they said i on the share register but as far i know i have never owned these shares. The sent me a non disclosure form apparently this company is going to be bought out..anyone she'd any light?