• Thu
  • Aug 28, 2014
  • Updated: 2:35am

Barclays Bank

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. 

Barclays to begin cutting jobs in the Asia-Pacific

Barclays, Britain's second-biggest bank by assets, will start eliminating 100 jobs across its Asia-Pacific investment banking and markets businesses this week, a person with knowledge of the matter said.

Wednesday, 4 June, 2014, 5:08am

Chinese banks in Hong Kong go quiet on last year's promised bonus

Is it too late to get your bonus in May? I'm talking about last year's bonus, not this year's. It is something that some Hong Kong-based staff at several mainland investment banks have been waiting anxiously for.

12 May 2014 - 6:28am 6 comments

Was Barclays the problem, or its business model?

When the world applauds your obituary, as it has the death of Barclays' global ambitions, it seems you have been doing something wrong.

10 May 2014 - 1:20am

Barclays to fight US$453m power fine in US court

Barclays will contest a record US$453 million (HK$3.5 billion) fine imposed by a US energy regulator against the British bank and four of its power traders, setting up a likely federal court battle.

The fines, which were upheld by the Federal Energy Regulatory Commission (FERC) on Tuesday, confirm the top US energy cop will pursue its most ambitious market manipulation case to date.

18 Jul 2013 - 12:57pm

Defeated by a Barclays press release

Every time an excited press release arrives about a new report from a public relations or corporate communications executive representing a private bank, my hopes rise. Please, please may this one contain some nugget of inspiration I can tease into something interesting.

19 Jun 2013 - 7:07pm

Barclays fires back, says hostility to banks unhealthy

Barclays chairman David Walker has hit back against what he said has become the “political and media industry” of badmouthing banks and bankers, and insisted on banks’ vital role in a free-market economy.

“The persistence of hostility to banks and bankers, much more marked in Europe than elsewhere, is in my view seriously unhealthy,” he told the a Montreal conference.

11 Jun 2013 - 10:19am

Barclays bank returns to profit in first quarter

British bank Barclays, seeking to fix its battered reputation caused by last year’s Libor rate-rigging scandal, said Wednesday that it returned to profit in the first quarter with net earnings of 839 million pounds (HK$9.94 billion) after a loss in the first three months of last year.

24 Apr 2013 - 3:45pm

Barclays chief tells staff to behave ethically or quit

Barclays chief executive Antony Jenkins has ordered employees to sign up to a new ethical code of conduct or quit, as he seeks to draw a line under last year's damaging Libor manipulation crisis.

19 Jan 2013 - 5:12am

UBS fined HK$12b for rigging global interest rates

UBS, Switzerland's biggest bank, must pay about 1.4 billion Swiss francs (HK$11.84 billion) to US, British and Swiss regulators for trying to rig global interest rates, triple the penalties levied against Barclays.

20 Dec 2012 - 3:19am

Chinese investors buy 80pc of AIG plane unit for US$4.2b

A Chinese group agreed to buy 80.1 per cent of American International Group’s plane-leasing unit for US$4.23 billion in the nation’s largest acquisition of a US company.

10 Dec 2012 - 5:56pm