All Entries Tagged With: "Barclays"
Barclays post £11.6 billion profit
Barclay’s bank (LON:BARC) has posted record annual profits of £11.6 billion for 2009. And if that wasn’t good news two of the most senior bosses have turned down bonuses for the second year in a row.
Barclays Parts with CEO Ahead of Restructure
Barclays (LON:BARC) will see the departure of Frits Seegers, the chief executive of its retail and commercial bank. His departure comes amid a restructuring of the way Barclays runs its businesses.
Barclays expected acquisition of Standard Life Bank
According to industry figures, Barclays (LON:BARC) which is expected to take over Standard Life Bank (SL) for £226m will enhance its strong position in the market. The mortgage book for the Bank has outstanding balances of approximately £8.8bn and average 48% loan to value (LTV).
Barclays to cut interest rates on tracker mortgages by 0.5%
Barclays (LON:BARC) have said that they are to cut the interest rates on its tracker mortgages by 0.5%, meaning that they are passing on the full Bank of England (BoE) rate cut. Those with a tracker mortgage under the Woolwich brand will see a reduction in their payments from 1 April.
Barclays may lose control to Middle East investors
The UK Government is in talks with Barclays PLC (NYSE:BCS) after the bank admitted that raising the extra capital needed for the bank’s future could trigger a clause which would see the UK bank lose control to Middle East investors.
Barclays adds to the gloom and slashes IT workforce
Barclays (LON:BARC) announced they were cutting over 400 jobs from its IT departments in London, Northampton and Cheshire.
The job cuts include 250 contractors and 158 permanent staff who had duplicate roles across the entire Barclays group, this adds to the doom and gloom that is surrounding the financial
Barclays Mortgage arm Woolwich reduces SVR by 1.15 percent
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Barclays (LON:BARC) mortgage arm Woolwich have announced they will be reducing their Standard Variable rate (SVR) by 1.15 percent to 5.49 percent following the bank of England interest rate cut today, not such a great reduction considering Woolwich did not make any cuts in November.
HSBC (LON:HSBA) have agreed they will also cut their SVR by [...]
No Collar Clause: Lloyds TSB, C&G and Barclays
If you have a tracker mortgage with Lloyds TSB (LON:LLOY), Cheltenham & Gloucester (C&G) or Barclays (LON:BARC), you will be pleased to hear that these lenders do not have the hidden Collar clause in their existing tracker contacts. Trackers mortgages are pegged to the Bank of England base rate so are affected if the Bank [...]
Barclays Plc starts trading in Sao Paulo to respond to investor
With the markets so volatile, Barclays Plc (LON:BARC) started trading on three new Brazilian Exchange Traded Funds in Sao Paulo, a move to ensure more diverse and more easily tradable funds.
The Exchange Traded Funds (ETF’s) the first created by Barclays in Brazil, replicate the BM&FBovespa Small Cap index, the BM&FBovespa MidLarge Cap index and the [...]
Mortgage Rates Slashed by Abbey, Barclays and Woolwich
Barclays (LON:BARC) mortgage arm, Woolwich and Abbey (LON:ANLA), owned by Santander the Spanish banking giant have slashed their rates for the second time since the Bank of England cut the key interest rate by 1.5 percent.
All of the main UK banks have come under criticism recently after they dismissed the urges by the government to [...]
Barclays stocks soar as Legal & General back capital fundraising plan
In early trade today Barclays (BARC.L) shares went up over 3 percent after Legal & General Investment Management (LGIM) one of Barclays top investors and part of Legal & General (LGEN.L) said they would vote in favour of the capital fundraising plan although it does not like the way the controversial deal is set out. [...]
Barclays and HSBC sends FTSE 100 tumbling further
HSBC (NYSE:HBC) and Barclays (LON:BARC) led the fall of UK stocks for a second day, as investors become more fearful that the economy downturn will damp earnings. In London (12.36 GMT) the FTSE 100 index tumbled 1.6 percent or 65.77 to 4,066.39. In Ireland the ISEQ Index dropped 3.4 percent. The FTSE All-Share Index fell [...]
Barclays PLC stands behind Middle East plan
On Tuesday Barclays (LON:BARC) caved in to the banks larger shareholders and changed the terms of its £7 billion capital raising plan, giving investors the chance to contribute in the issue of a security which will pay a 14 percent coupon.
Barclays (LON:BARC) also announced that in the bank’s annual meeting in April 2009 they [...]
Barclays is one step closer to Middle East deal
Barclays (LON:BARC) deal with Middle Eastern Investors is sure to go ahead due to an ‘Amber Top’ notice from the Association of British Insurers (ABI) ahead of next Friday’s meeting to reach the verdict on the bailout.
John Varley the CEO and Marcus Agius chairman of Barclays met with the ABI who represents institutions who own [...]
Barclays Mortgage Arm Woolwich Launch Fixed Rate Deal at 3.99%
Barclays (LON:BARC) and mortgage arm Woolwich are launching from tomorrow a new one-year fixed mortgage deal called “fix and track” at a rate of just 3.99 percent, one snag, you do have to have 40 percent deposit.
The 3.99 percent mortgage rate will then revert after 12 months to a lifetime tracker rate of 1.99 [...]