Barclays to appoint JPMorgan's Throsby to head investment banking arm
5th Sep 2016 11:52
(ShareCast News) - Barclays has poached JPMorgan head of equities Tim Throsby to head up its investment banking division, according to reports on Monday. Chief executive Jes Staley, an ex-JPMorgan man himself, has been running the unit since March, when his new 'transatlantic' strategy saw the cr
Read moreLloyds, RBS drop on Deutsche Bank downgrades
5th Sep 2016 10:14
(ShareCast News) - Lloyds and Royal Bank of Scotland were under the cosh on Monday as Deutsche Bank downgraded the stocks to adjust for a "lower-for-longer" environment. DB pointed out that UK bank shares have been particularly volatile since the UK voted to leave the European Union, with RBS, Barcl
Read moreLawsuit alleges Barclays loaned £2.26bn to Qatar to avoid bailout
2nd Sep 2016 12:54
(ShareCast News) - Barclays Plc is alleged to have loaned £2.26bn to Qatari investors to aid their purchase of shares in the lender during the worst moments of the global financial crisis in 2008. Documents filed in the high court in the UK by PCP Capital Partners said the bank failed to disclose th
Read moreLondon close: Blue-chip miners, banks push FTSE higher as house builders fly
23rd Aug 2016 15:58
(ShareCast News) - London indices closed up thanks to heady gains among house builders after Persimmon posted robust first-half results, with miners, financials and supermarkets also on the up. While house builders dominated the top end of the blue-chip leaders' ladder, it was "miners and banks that
Read moreBarclays reaches $100m Libor-rigging settlement with US states
9th Aug 2016 12:08
(ShareCast News) - Barclays agreed to pay $100m, or £77m, to 44 US states for "fraudulent and anti-competitive conduct" in the Libor interest rate rigging scandal. The fine will be shared between 43 US states and the district of Columbia. It follows the £290m fine by the Financial Services Authority
Read moreBanks made to share 'open banking' data, cap overdraft fees, and more
9th Aug 2016 09:04
(ShareCast News) - High street banks will be forced to securely share data with their rivals and third parties, publish objective information about their services, warn customers when they are about to go into unarranged overdrafts or when they could get a better deal from another account, after the
Read moreIndustrial metals and mining shares pace advance
8th Aug 2016 17:21
(ShareCast News) - Investors continued to shift out of the more defensive segments of the stockmarket and towards cyclical sectors in the wake of the previous session´s unexpectedly strong US jobs feport for July. Industrial Metals & Mining thus received a boost as steel futures climbed. Overnight,
Read moreBroker tips: Rotork, Crest Nicholson, Barclays
8th Aug 2016 13:21
(ShareCast News) - Jefferies maintained Rotork's rating at 'underperform' on Monday but raised its target price to 170p from 155p based on a higher 2017 forecast for the British manufacturer. "Markets are difficult and this is unlikely to change soon, there is pricing pressure, margins/returns are u
Read moreBarclays rallies on Exane upgrade
8th Aug 2016 08:43
(ShareCast News) - Barclays got a boost on Monday after Exane BNP Paribas upgraded the stock to 'outperform' from 'neutral' as it took a look at UK banks. Exane pointed out that having been cautious on the stock for two years, it "made the mistake" of upgrading the recommendation shortly before the
Read moreMonday newspaper round-up: Lloyds, new post-Brexit data, banks
8th Aug 2016 06:59
(ShareCast News) - Thousands of retail investors are likely to be denied the chance of buying shares in Lloyds Banking Group at a discount as the government is expected to abandon the plan in the aftermath of market uncertainty caused by Brexit. The government put plans for a "Tell Sid" offer of Llo
Read moreRBS sinks into the red at the half-year stage
5th Aug 2016 07:03
(ShareCast News) - RBS was pushed deep into the red as a result of provisions to cover possible litigation costs linked to its 2008 rights issue just prior to its emergency rescue by taxpayers.. The mostly state-owned lender reported an attributable loss of £2.05bn at the half-year stage, compared t
Read moreEBA stress tests highlight weaknesses in some lenders and bank systems, S&P says
1st Aug 2016 14:06
(ShareCast News) - European regulators´ bank stress-test results showed that most of them had sufficient capital to withstand an adverse scenario, one of the world´s main credit rating agencies said. However, the results of the EBA´s tests also highlighted "potential weaknesses" in some banks and ba
Read moreBarclays Tier 1 capital ratio falls to 7.3% under EU stress test
1st Aug 2016 07:09
(ShareCast News) - Barclays said its Tier 1 capital ratio fell to 7.3% from a 2015 year-end position of 11.4% under a stress test conducted by the European Banking Authority under the European Union's Capital Requirements Directive. The 2016 EU-wide stress test does not contain a pass fail threshold
Read moreBarclays half-year pre-tax profits fall 21%
29th Jul 2016 07:36
(ShareCast News) - Half year pre-tax profits at Barclays fell 21% to £2.06bn, reflecting the costs of offloading its non-core business. The bank's core business made pre-tax profits of £3.97bn, up 19% while the non-core business made a loss of £1.9bn. The non-core loss was mainly due to a £372m
Read moreBank solvency in jeopardy if recession hits post Brexit
28th Jul 2016 16:17
(ShareCast News) - Britain's banking system will face a capital shortfall of £68bn if the UK hits a recession after it leaves the EU, according to Moody's. The ratings agency has carried out its annual stress test across British high street banks to see whether they have enough capital to withstand
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