Barclays Bank News
Accused over fraud charges, former Barclays chief executive John Varley appeared in a London court on Monday. It is the first time a boss of a global bank has faced charges arising from the 2008 financial crisis.
The first ATM was opened on June 27, 1967 at a branch of Barclays bank in Enfield, north London, the first of six cash dispensers commissioned by the bank.
British lender Barclays Plc Wednesday said it does not have any plans to operate as an wholly-owned subsidiary (WOS) in India, saying there are costs associated with it and the benefits which can accrue to an entity of its size do not make it a feasible model.
Barclays is to sell its Italian bank branches to CheBanca!, the retail arm of Mediobanca, and take a 200 million pound ($298.52 million) loss on the deal.
The Financial Conduct Authority said Barclays rushed through a huge 1.88-billion pounds transaction in order to secure fees from a number of very rich customers.
Barclays` new executive chairman sought to stamp his mark on the bank on Wednesday by accelerating the sale of assets and cost cutting, after the group reported an 12 percent rise in profit and another big charge to compensate customers.
These job cuts are likely to affect staff at middle and back office operations, where largest savings are achieved, the Times said.
The far-flung settlement included guilty pleas from Barclays Bank, JPMorgan Chase, Citicorp and the Royal Bank of Scotland for conspiring to manipulate the massive currency market, as well as a guilty plea from Switzerland`s UBS, for violating a prior settlement of Libor charges.
Barclays said it had now set aside 2.05 billion pounds ($3.2 billion) to cover any settlement, after the extra provision to reflect "developments with certain authorities" since it last reported in March.
Barclays reported a loss after tax of £174 million ($268 million, 239 million euros) for 2014 compared with a net profit of £540 million the previous year.
Britain`s financial watchdog on Tuesday said it had fined Barclays bank almost 38 million pound for putting client assets at risk, dealing a further blow to the troubled lender.
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