• Fri
  • Nov 21, 2014
  • Updated: 5:36am


Barclays Bank is one of the world’s oldest banks. In June 2012, it was fined 290 million pounds (US$450 million) for attempting to manipulate the daily settings of London Interbank Offered Rate (Libor) and the Euro Interbank Offered Rate (Euribor). The bank's chief executive, Bob Diamond, decided to give up his bonus as a result of the fine, and subsequently resigned after a wave of criticism against the bank. 

Fed subjects big foreign banks to same standards as US ones

The United States Federal Reserve adopted a tight new rule for foreign banks on Tuesday to shield the US taxpayer from costly bailouts, ceding only minor concessions despite pressure from abroad to weaken the rule.

Thursday, 20 February, 2014, 12:52am

Three former Barclays bankers charged over Libor fraud in Britain

Three former employees of banking giant Barclays have been charged in connection with the Libor interest rate-rigging scandal, Britain’s Serious Fraud Office said in a statement on Monday.

18 Feb 2014 - 3:54am

Barclays raises bonus payout despite drop in earnings

Barclays said it paid out £2.4 billion (HK$30.5 billion) in incentive awards for last year after raising bonuses in its investment bank by 13 per cent despite a slump in profits in the business.

12 Feb 2014 - 5:01pm

UK court considers if Barclays, Deutsche Libor abuse annuls deals

A British court will this week consider whether attempted manipulation of the benchmark interest rate Libor - London interbank offered rate - can invalidate loans and other deals or show that banks mis-sold products that were based on the rate.

14 Oct 2013 - 4:31am

Barclays to raise £5.8b from rights offer

Barclays, Britain's second-largest bank by assets, said it would raise £5.8 billion (HK$69.2 billion) in a rights offering to bolster capital as it booked its biggest charge to date for customer compensation.

31 Jul 2013 - 1:48am

S&P downgrades European lenders

Standard & Poor's has lowered the credit ratings of Barclays, Deutsche Bank and Credit Suisse, citing new rules and "uncertain market conditions" that threaten the banks' business.

4 Jul 2013 - 3:48am

EU charges banks with blocking exchanges from derivatives market

EU watchdogs have charged 13 top investment banks with blocking exchanges’ access to the lucrative credit derivatives market, hitting the sector with the latest in a growing list of regulatory headaches.

2 Jul 2013 - 1:01pm

British banks cut 189,000 jobs, take staff numbers to nine-year low

Britain's four biggest banks will have eliminated about 189,000 jobs by the end of this year from their peak staffing levels, bringing employment to a nine-year low amid a dearth of revenue. More cuts may follow.

29 May 2013 - 2:51am

Ralph Toledano styles a personal philosophy on building brands

We've always struggled with the language of high fashion. When we read of a Giorgio Armani executive saying that couture was more about "authenticity and heritage as key values when considering a purchase", rather than as "expensive trend-driven clothing", it brings out the cynic in Lai See.

9 Apr 2013 - 6:08am

Why top bankers deserve to be paid huge salaries

I sympathise with the outrage in this Barclays memo. The very people who plunged the bank into trouble and who should have been sacked, or at least seen their pay cut, still think they deserve huge salaries.

9 Apr 2013 - 4:25am 8 comments

Barclays bankers focused on revenue at expense of clients: Salz's report

In the report, commissioned by the bank after it was fined £290 million (HK$3.4 billion) in June for manipulating Libor, Rothschild vice-chairman Anthony Salz criticised Barclays for failings in its culture.

4 Apr 2013 - 3:35am

Barclays up the wrong tree

Private banks and indeed financial institutions of various kinds devote a surprising amount of time to churning out surveys of wealthy people’s investing habits, attitudes to risk, and spending. While some of these are quite entertaining, such as the Forbes billionaires list or the Hurun Report into the financial habits of China’s super-rich, many are just baffling.

12 Mar 2013 - 9:29pm

Business Digest, March 9, 2013

US jobless rate drops to 7.7pc, lowest in 4 years

A burst of hiring last month added 236,000 jobs in the United States and reduced the unemployment rate to 7.7 per cent, its lowest level in four years, from 7.9 per cent in January. More than half the decline occurred because 170,000 of the unemployed found jobs, but 130,000 gave up looking for a job. AP


9 Mar 2013 - 5:15am

Ex-employee laughing all the way from the bank

We heard an intriguing story recently that we are assured occurred at a well-known investment bank in Hong Kong. A relatively low-level ibanker was summoned to the human resources department during the recent cull and told that, although the bank was sorry to lose him, but what with the uncertain outlook and restructuring and so on, the bank had no choice but to let him go.

1 Mar 2013 - 5:17am 4 comments

If I scream and you scream, you might get chocolate ice cream

Readers may recall our recent piece on Singapore Airlines and strawberry ice cream. This was about a woman on a Singapore Airlines flight who when offered strawberry ice cream asked if she could have either chocolate or vanilla, since she wasn't keen on the strawberry option.

21 Feb 2013 - 6:07am 1 comment