Barclays finance director Chris Lucas has protested strongly that he did not say one thing to shareholders and another to the Securities & Exchange Commission when trying to explain the logic of the Protium deal, as suggested in this column on Tuesday. Everything was disclosed to all parties. It was the emphasis that was different. What was headlined to the SEC was at the bottom of the page in the UK... more
Back in September 2009 Barclays shifted $12.3 billion (£7.5 billion) of its most toxic assets into a Cayman Islands registered company, called Protium, lent that company the money to buy the assets and allowed 45 of its bankers to move with the assets with the promise that they would share in any profit they made in running off the loan book... more
Barclays risks a fresh row with politicians and the general public by disclosing a string of multi-milion pound bonus payments to top executives... more
Barclays boss Bob Diamond faces MPs over his expected multi-million-pound bonus, in his first public appearance since taking on the job on New Year’s Day... more
Barclays says its investment bankers are on course for higher pay and bonuses despite the fact that profits fell at Barclays Capital in the last quarter... more
Barclays fuels growing public anger over bankers' bonuses as it reveals that it handed out shares worth more than £64 million to 10 top executives as part of their bonuses for the last five years... more
Barclays announced its return to dividend payments. Only a year after the bank was forced to stop them at the height of the credit crunch, it said it will pay a first interim dividend of just one penny... more
City banking analysts were thrown into chaos today after Lloyds unexpectedly put out its first-quarter trading statement at the same time as Barclays ... more
Barclays posted a 15% rise in profits driven by its investment banking division Barclays Capital, which for the first time included Lehman Brothers’ New York business... more
Just how brilliant is the car “scrappage” scheme in the Budget? It’s designed to stimulate the car industry but only £1000 of the £2000 paid to the owner of an old banger trading it in against a brand-new model, comes from the taxpayer; the rest is provided by the car industry... more
Barclays directors received no cash bonuses last year, as they promised, but finance director Chris Lucas and Frits Seegers, head of retail and commercial banking, are in line for share awards worth £800,000 and £1.6 million respectively... more
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