Barclays reportedly plans to cut 30,000 jobs
20th Jul 2015 08:48
(ShareCast News) - Barclays is reportedly planning to cut more than 30,000 jobs in the next two years, just days after the bank ousted chief executive Antony Jenkins. According to sources cited by the Times on Sunday, the cuts - which are seen as the only way to address the bank's underperformance a
Read moreMonday newspaper round-up: Barclays, Greece, BAE Systems
20th Jul 2015 07:44
(ShareCast News) - Barclays is planning to cut more than 30,000 of its staff within two years as the struggling bank considers accelerating a group-wide cost-cutting programme after firing Antony Jenkins, its chief executive, this month. A radical redundancy programme that could lead to the lender's
Read moreFriday broker round-up
17th Jul 2015 16:13
(ShareCast News) - Anglo American: SocGen reiterates hold but trims target to 950p from 1090p. ARM Holdings: Investec reiterates buy and 1,140p target. Barclays: Investec downgrades to sell with 265p target. Capita: Morgan Stanley ups target to 990p from 950p and reiterates underweight. RBS: Inve
Read moreBroker tips: Barclays, ARM Holdings, GKN, Ocado, Savills
17th Jul 2015 11:50
(ShareCast News) - Investors' faith in the heir designate at Barclays may not be misplaced, quite the contrary, but in the short-term his plans for a "strategic acceleration" means earnings may be even weaker, Investec said. The analyst downgraded the bank's shares to 'sell' from 'hold' and lowered
Read moreInvestec downgrades Barclays to sell, trims target price
17th Jul 2015 11:47
(ShareCast News) - Investors' faith in the heir designate at Barclays may not be misplaced, quite the contrary, but in the short-term his plans for a "strategic acceleration" means earnings may be even weaker, Investec said. That comes after the bank's valuation recovered to 1.0 times tangible net a
Read moreBarclays insists Rake will stay on board until new CEO is found
16th Jul 2015 12:16
(ShareCast News) - Barclays has confirmed deputy chairman Michael Rake will continue to serve on the bank's board until a replacement is found, following his appointment as chairman of payment processing company Worldpay. "Barclays wishes to make clear that Sir Michael Rake will continue to serve on
Read moreThursday newspaper round-up: Capital requirements, UK, Barclays
16th Jul 2015 08:23
(ShareCast News) - Senior officials in Brussels have said that European banks could have their capital requirements slashed, only six years after a financial crisis during which lenders collapsed or needed multibillion-pound state rescues because of their lack of an adequate loss buffer. Lord Hill o
Read moreMichael Rake to leave Barclays for Worldpay
15th Jul 2015 16:46
(ShareCast News) - Payments processing company Worldpay said on Wednesday that Michael Rake, who is currently deputy chairman of Barclays, will leave the bank to become its chairman in September, subject to regulatory approval. Earlier, Barclays responded to media speculation regarding Drake's posit
Read moreBarclays says deputy chairman Rake will stay on until end 2015 at least
15th Jul 2015 10:18
(ShareCast News) - In response to earlier media speculation regarding Sir Michael Drake's position, Barclays said on Wednesday that he intends to stay on in his roles as deputy chairman and senior independent director and be a member of the board until at least the end of 2015. "If and when he stand
Read moreApple Pay debuts in UK
14th Jul 2015 13:35
(ShareCast News) - Apple introduced its Apple Pay app in the UK on Tuesday, after the company unveiled in June its plans to launch the service in the country this summer. The new service allows users to pay at more than 250,000 businesses including Tube stations, coffee shops, supermarkets and trave
Read moreFTSE 100 movers: Upgrade gives IAG wings, but ARM bent by downgrade
13th Jul 2015 15:24
(ShareCast News) - London's top-flight index was in the black on Monday as investors welcomed a long-awaited bailout agreement between Greece and its creditors, with the blue chip index up 0.87% to 6,731.30 by the close. International Consolidated Airlines Group was the standout gainer after Swiss b
Read moreFriday share tips: Barclays, Hays
10th Jul 2015 18:35
(ShareCast News) - If Barclays wants to light a fire under its shares it needs to fix its capital position and repair its investment bank. The latter is the common denominator between outgoing chief Antony Jenkins and the ex-bosses at Credit Suisse, Deutsche Bank and Standard Chartered. The investme
Read moreFriday broker round-up
10th Jul 2015 14:03
(ShareCast News) - Anglo American: Citi upgrades to neutral. Ashmore: Jefferies reiterates buy but shaves target price to 373.5p, Cannacord reiterates hold. Aviva: Barclays reiterates neutral stance and nudges target to 637p from 632p, Berenberg keeps at sell. BaE Systems: Berenberg upgrades to bu
Read moreThursday share tips: Barclays, Bwin.party
9th Jul 2015 17:57
Barclays chairman John Mcfarlane has decided Antony Jenkins's time is up. That is somewhat surprising. Jenkins has successfully begun the slow process of rebuilding the lender's reputation. Nevertheless, at 70% the bank's cost-to-income ratio is still too high. In parallel, its return on equity - ev
Read moreThursday broker round-up
9th Jul 2015 16:22
Ashmore: RBC keeps at underperform. Aggreko: Exane reiterates underperform recommendation and 1,250p target. Anglo American: Investec stays at hold on the miner's South African-listed shares. Associated British Foods: Credit Suisse stays at outperform and sets a target price of 3,250p. Barclays:
Read more