Barclays is turning a close eye toward improving structural efficiencies, particularly in the U.K.’s lingering very-low interest rate environment, after the COVID-19 pandemic helped push third-quarter costs to GBP 3.4 billion ($4.4 billion).
British bank Barclays has agreed to purchase AARP’s credit card portfolio from JPMorgan Chase and has entered into a new co-branded credit card deal with the nonprofit focused on issues affecting Americans over the age of 50.
Chinese fintech Ant Group has raised its targeted valuation for its upcoming blockbuster initial public offering from $250 billion to at least $280 billion, Bloomberg reported on Friday.
Two former Barclays executives unveiled plans Monday to launch a U.K.-based digital bank, which aims to serve young professionals through a focus on open-banking finance tools.
Mastercard and Broadridge Financial Solutions executives were appointed to a Federal Reserve Bank of New York panel on Friday, as the group looks to better understand the pandemic's impact on U.S. fintechs.
Barclays is reportedly planning on entering four new European private banking markets in 2021, as the British bank looks to take advantage of opportunities to expand its presence further in the European Economic Area.
Residential mortgage provider and purchaser AmeriHome filed for an initial public offering, falling in step with a surge of companies that have recently tapped the public equity markets.
Barclays has promoted C.S. Venkatakrishnan to be its global head of markets and co-president of the investment bank, according to a spokesperson on Thursday, as the British company makes other sweeping changes to its senior ranks.
Experts say a recent report about the potential laundering of trillions of dollars through the world’s biggest banks showcases a toothless regulatory system that’s regularly abused by banks, with little set to change unless direct action is taken by the government to modernize the reporting of illicit behavior.
A U.S. federal judge approved an aggregate $187 million settlement agreement resolving an antitrust class action against seven of the world’s largest banks that claimed the banks colluded to misreport and manipulate LIBOR rates, harming eurodollar investors.
JPMorgan Chase, the largest U.S. bank by assets, cut projected net interest income for 2020 while pointing to signs that offsetting business increases could see it through the current stretch of low loan growth.
The U.K.’s biggest banks are likely to see troubled loans surge by 2022 as the fallout from the coronavirus pandemic eats its way through the economy, Moody’s said in a report Tuesday.
An effort backed by UBS, Barclays, Banco Santander and a dozen other major banks to speed payments using digital coin equivalents of major currencies has been delayed until 2021 due to regulatory issues, according to Reuters.
A pair of special-purpose acquisition companies backed by private equity firm TPG are looking to raise a combined $800 million through initial public offerings, the latest actions amid a surge in activity for this type of investment vehicle.
Edward Bramson, whose Sherborne Investors owns 5.9% of Barclays, renewed his call to replace Barclays CEO Jes Staley due to the reputational damage caused by Staley’s connections to Jeffrey Epstein, as the activist fights to reshape the bank.
A U.S. federal judge is allowing a set of Navient investors to pursue a stock inflation lawsuit as a class action against the student loan servicing company and a slew of major banks that served as underwriters for Navient’s debt offerings.
Barclays’ will appoint 18-year JPMorgan veteran Manuel Esteve to head its continental Europe equity capital markets division as the U.K.’s second-largest lender weathers shrinking profits due to the COVID-19 crisis.
The U.S. Department of Labor faces strong opposition from investment firms to a proposed rule that they say would stifle the consideration of environmental, social and governance factors in retirement plans, according to an analysis released by financial companies Thursday.
Australia & New Zealand Banking said Thursday that it became the first bank to issue a sustainable development goals bond in Australia’s domestic market with an AUD 1.25 billion ($893 million) Tier 2 capital bond linked to United Nations goals.
Expobank, a former subsidiary of Barclays, said Wednesday it issued Russia’s first loan backed by cryptocurrency as the country looks to begin regulating digital currency.