Barclays PLC Sponsored ADR (BCS)
Labour announces seven-billion-pound National Wealth Fund
Labour chancellor Rachel Reeves has earmarked £7.3 billion in state funding for a new ‘National Wealth Fund' targeted at private-sector businesses. Announcing the plans alongside a nine-strong taskforce at Number 11, Reeves stated: “I have previously committed to establishing a National Wealth Fund.
Barclays' (BCS) Restructuring Aids in Uncertain Capital Market
Business restructuring and simplification efforts will likely keep aiding Barclays' (BCS) bottom line. Yet, uncertainty about the performance of the capital markets is worrisome.
Ex Barclays banker challenges watchdog in "fit and proper" dispute
A former senior Barclays banker, who was acquitted of fraud charges in 2020, challenged Britain's Financial Conduct Authority (FCA) in a London tribunal on Monday over the FCA's refusal to authorise him for senior financial positions.
Lloyds, Barclays and Natwest have little to fear from new government, Citi suggests
This Labour government poses little threat to the UK banks, according to analysts as Wall St bank Citi. Near-term implications from a Labour government are limited, Citi adds, with this quarter tipped to mark the trough for UK domestic bank NIMs [net interest margins].
Barclays (BCS) to Sell German Consumer Finance Business
In sync with its plan outlined in February, Barclays (BCS) announces the sale of its German consumer finance business. The deal will free up substantial capital and strengthen its balance sheet.
Barclays, HSBC and other lenders cut mortgage rates again
Some of the UK's largest high-street banks have begun cutting mortgage rates as they look to take advantage of the pent-up demand after the election and when base rates are cut. Both HSBC Holdings PLC (LSE:HSBA) and Barclays PLC (LSE:BARC) reduced their rates for the second time in as many weeks, with the latest changes set to come into effect tomorrow.
Barclays sells German consumer banking business
Barclays PLC (LSE:BARC) has struck a deal to offload its German consumer banking business to Austrian bank Bawag for a "small premium to net assets", but said the sale would not increase how much capital it would return to shareholders. The cash sale of Hamburg-based Consumer Bank Europe is expected to release around €4 billion (£3.4 billion) of risk weighted assets, increasing its CET1 capital ratio by roughly 10 basis points on completion, which is expected within six to nine months.
UK's Barclays to sell German consumer finance business
Barclays has agreed to sell its German consumer finance business to Austrian bank BAWAG Group AG for a "small premium to net assets", payable in cash, it said on Thursday, as the British lender aims to simplify its business.
Barclays top pick among UK banking stocks, says UBS
UBS analysts remain positive on UK bank stocks over their European counterparts, with a particular bias for Barclays PLC (LSE:BARC). In a broker note published on Tuesday, UBS highlighted UK banks' solid earnings season and an improved outlook, citing increasing net interest income driven by structural hedges.
Bank outages fixed after users left frozen out on payday
Pay.uk, the body which oversees Britain's retail payments, has revealed the technical issue which prevented bank users from being able to send payments and receive their monthly salaries has been fixed. A spokesperson said: "We are aware that a small number of faster payments were delayed or not processed earlier today.
Barclays to cut mortgage rates; rivals predicted to follow
Barclays PLC (LSE:BARC) is cutting rates on several mortgage offerings, opening the door for other lenders to follow suit. Starting tomorrow, some of the bank's new deals include: Two-year fixed deal with 90% LTV and no product fee at 5.48% from 5.76% Two-year fixed deal with 60% LTV and no product fee at 4.88% from 5.13% Five-year fixed deal with 90% and a £999 product fee at 4.85& from 4.90% Riz Malik at R3 Mortgages said: "Barclays is the first lender of the week to improve selected mortgage products but my suspicion is that it won't be the last.
It's a tough call to buy stocks at these levels. But they're a better option than bonds, says Barclays.
Being long equities is no longer an easy decision. But it is even harder to love bonds at these levels.
