Barclays
Francesco Ceccato, the CEO of Barclays Europe, believes Europe's economy is at a turning point and set out during a live recording of The Big Question in Brussels on Wednesday when he expects the European Central Bank (ECB) to start its rate cutting cycle - and where the deposit rate might go. "The monetary policy that we have seen impacting the European economy has had its effect and inflation is falling and it is falling fast. Now, you have the occasional blip in this or that particular element of data but the trend is very clear so that is one particular positive piece of news," Ceccato sai...
Euronews (English)
Shares in Barclays climbed 4.77% on the London Stock Exchange in early trade after the bank reported its latest financial results \- and announced an extensive structural overhaul. Total group income rose by 2% to £25.4 billion, although the fourth quarter contribution of £5.6 billion was shy of the expected £5.8 billion. Net interest income (NII), meanwhile, jumped by 20% to £12.7 billion year-over-year, with higher interest rates continuing to provide a tailwind. Pre-tax profit for 2023 came in at £6.6 billion, falling from £7 billion in 2022. Denmark's GDP soars thanks to growing pharma sec...
Euronews (English)
Barclays has announced that it will no longer fund new oil and gas fields, in a “massive win” for the climate campaigners who have been urging it to stop for years. The British bank is the second biggest funder of fossil fuels in Europe, having been overtaken by French-based multinational BNP Paribas in 2022. In a new climate change statement on Friday, Barclays unveiled a range of restrictions for its oil major clients which include ExxonMobil, Shell, TotalEnergies and BP. “Has the last fossil bank standing just crumbled under climate protest?” UK activist group Fossil Free London (FFL) quest...
Euronews (English)
Anti-capitalist green protests met with an unlikely ally in Brussels today (1 February) – the head of the European Banking Authority. EU financial regulators may not always see eye to eye with activists at Extinction Rebellion – but there was some sympathy for two protestors who stormed a conference stage to protest large banks’ environmental record. “Barclays is the biggest investor in Europe in fossil fuels,” one of the protestors said to the panel which included Francesco Ceccato, Chief Executive Officer of Barclays Europe. “GDP growth is not compatible with the green transition,” the prote...
Euronews (English)
The Barclays PLC (LON:BARC) share price has been caught between the positive effect of higher interest rates on revenues for financial products such as credit cards and loans and the negative impact of rapidly rising interest rates on stock prices, the ongoing war in Ukraine, strict Covid-19 lockdowns in China and recent general risk-off sentiment. With China opening up again and several commodities such as Natural Gas, London Wheat and base metals such as aluminium having given back much of this year’s strong gains, the inflationary threat may be abating which could boost stock markets. Q1 20...
ValueWalk
Barclays PLC (LON:BARC) first quarter total income rose 10% to £6.5bn, reflecting a 26% increase in net interest income to £2.3bn and a 3% rise in other income to £4.2bn. Operating expenses were 15% higher, including a £523m litigation and conduct charge, relating to the overselling of US securities and customer compensation relating to an old loan book. As a result, pre-tax profit fell 7% to £2.2bn. The £1bn buyback has been delayed for a second time. This is because of ongoing discussions with the SEC relating to the US securities scandal. Barclays says it’s committed to the programme and in...
ValueWalk
Multinational investment bank Barclays has renewed its partnership with National Student Esports (NSE) for another year. The bank will be the official sponsor of the British University Esports Championships, as well as the second Games Innovation Challenge. Both events are scheduled to take place in 2022. RELATED: Barclays bolsters esports presence with NSE sponsorship The British University Esports Championships saw more than 1700 teams from over 100 universities compete in a series of esports titles. Meanwhile, the Games Innovation Challenge is a video game building competition for students ...
Esports Insider
“The repercussions from the Jeffrey Epstein scandal stretch far and wide, and now Barclays PLC (NYSE:BCS) finds itself at the centre of the storm. Q3 2021 hedge fund letters, conferences and more Barclays CEO QuitFor the Chief Executive, Jes Staley to step down following an investigation by city regulators into his into his dealings with Epstein, it’s clear the conclusions of the probe are critical. While the probe did not centre on Mr Staley’s role at Barclays but what he disclosed about his previous position at JP Morgan, what was under question was how he characterised his former relationsh...
ValueWalk
Barclays PLC (NYSE:BCS) American CEO Jes Staley has quit his job at the British bank amid an investigation on his links with discredited and deceased financier Jeffrey Epstein. The probe was launched by the Financial Conduct Authority (FCA) and the Bank of England’s Prudential Regulation Authority (PRA). Q3 2021 hedge fund letters, conferences and more Barclays CEO QuitsThe bank revealed that the investigation was into “Mr. Staley’s characterization to Barclays of his relationship with the late Mr. Jeffrey Epstein and the subsequent description of that relationship in Barclays’ response to the...
ValueWalk
Barclays PLC (LON:BARC)’s total income rose 5.0% to £5.5bn in the third quarter, driven by non-interest income, which was up 11.9% to £3.5bn. Net interest income fell 5.6% to £1.9bn, as Barclays had lower unsecured loan balances. Q3 2021 hedge fund letters, conferences and more Pre tax profit rose to £2.0bn, up from £1.1bn, as credit impairment charges continued to fall. James Staley, CEO, said the group’s “seeing evidence of a consumer recovery and the early signs of a more favourable rate environment”. The shares were unmoved following the announcement. Barclays’ Diversified Business ModelSo...
ValueWalk
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