19 Burst results for "barclays bank"
Elizabeth Fry, The Prison Angel
"Hello from Wonder Media Network. I'm Jenny Kaplan and this is encyclopedia Monica. Today's activist was a major proponent of prison reform in Britain. She's known as the Angel of prisons. Let's talk about Elizabeth Fry. Elizabeth Gurney was born in Norwich Norfolk in seventeen eighty to a wealthy quaker family. Her Father John was a successful banker and her mother Catherine was a member of the family that founded Barclays Bank which still operates is one of the largest banks in the world. Elizabeth was the odd one out amongst her siblings. She experienced mood swings and had difficulty learning which biographers attribute to her dyslexia. Elizabeth once said I was thought and called very stupid and obstinate I certainly did not like learning nor did I believe attend my lessons when Elizabeth was twelve years old her mother passed away and Elizabeth was left to care for her younger sisters and brothers. Eighteen hundred at the age of twenty. Elizabeth Mary Joseph Fry London banker and quaker together. They had many children most sources say eleven, five sons and six daughters though some sources suggest that had even more kids. Elizabeth was an observant quaker and frequently worshipped at the Friends Meeting House. It was there the she heard Williams savory preach about the importance of altruism and philanthropy. His words inspired Elizabeth to help those in need. In eighteen thirteen elizabeth visited newgate prison, which was notorious for its filthy state and its dismal treatment of its prisoners. Elizabeth was appalled to see such harsh conditions. Women and children were tightly packed in small spaces with little room to wash themselves or cleaned their clothes, and while many of the newgate prisoners had committed severe crimes, some of them had not. And others hadn't even received a trial. Elizabeth was determined to act the next day she returned to the prison with fresh loaves of bread and clean clothes, but she had sewn herself. She distributed them to the prisoners and encourage them to keep their cells clean and find ways to be hygienic in the oppressive environment. Elizabeth didn't come back to newgate until eighteen sixteen due to financial difficulties within her family. But upon her return, she dove back into the Work Elizabeth educated the children of Newgate who were imprisoned with their parents teaching them practical skills like reading and selling. In eighteen seventeen, Elizabeth founded the Association for the improvement of female prisoners along with twelve other women she worked to advance prison reform and to provide female prisoners with education and tools for employment Elizabeth fought for the idea that prison should be based round rehabilitation rather than punishment she wrote it must indeed be acknowledged that many of our own penal provisions as they produced no effect appear to have no other end the punishment of the guilty. Eighteen nineteen Elizabeth wrote prisons and Scotland in the north of England and encouraged her society friends to visit newgate themselves. At. That time Britain was in the practice of sending prisoners to penal colonies in. North. America Australia and India. At newgate. Prisoners en route to be transferred to convict ships, rebound by chains and unable to move around and tiny carts people in the streets pelted them with garbage. Elizabeth convinced the governor of new gate to carry the women enclosed carriages rather than open ones and to ensure that all the women and children had enough food to eat on their voyage. Elizabeth also gave the prisoner sewing tools, bibles and other necessities to accompany them on their long journeys. With the help of her efforts, the act of transporting criminals so far away lands was prohibited in eighteen, thirty seven. Prior to that change in policy Elizabeth visited every convict ship bound for Australia for more than twenty five years. Throughout the eighteen twenties, Elizabeth inspected prison conditions and continued to advocate for the rights of prisoners. She presented her findings to the House of Commons committee in doing. So she became the first woman to present evidence to parliament. Elizabeth's ideas influenced the eighteen twenty three jails act which introduced a series of prison
Are financial institutions waking up to climate change?
"Concerned about climate change is rising around the world on the streets in parliaments and among investors questions about the future of fossil fuels are putting new pressure on companies. He's and financial institutions so he was made to discuss what this means are hugh vents daynuss chair of the sustainable finance committee at UBS and former adviser to to Bank of England governor mark. Carney and billy nauman a reporter for the FTA's moral money. which covers the world of sustainable finance? I billy let's talk about some examples of the financial impact of climate change. What's been the economic fallout from the Australian? Bushfires that's a very good example I think and and it's one that's still kind of playing out obviously so it will take some time to see. The True Fallout Bank of America made some projections that the fires just for the first quarter of twenty twenty twenty could subtract at least zero point zero point four percent from Australia's entire GDP. So yeah. It's it's bad and probably a bit worse than people. Were expecting only a month six weeks ago absolutely. Yeah I mean the numbers were seeing on the insurance sector at this point they. They don't jump off the page. Necessarily I think they were close to nine. Thousand fire related claims from September until early January but that compares to just fourteen hundred fifteen hundred hundred for the yearly average of the last five years. I think so. It's a massive uptick in so much is still coming at this point. It's hard to say with the crisis. It's still playing out how bad it's going to be right. Hugh you recently wrote pace for the FDA about why investors and boards NATO take climate. I'm at risk into account now the Australian fires an example of that sort of risk. Or you have other. Things changed as well. Australia is clearly very stark reminder of the potential attention challenges but I think it's a much broader range of issues and I think there's always a push poll we're seeing regulators start to impose stress tests on the banks and their insurers shores particularly led by Governor Connie but also there have been some great initiatives to improve the quality of data. Because the key issue if you can't measure it you can't manage it and I think one of the companies and boards in particular realized they will increasingly be held to account through numbers which could be used both by investors by pressure groups. And we shouldn't underestimate the impact or pressure groups oops grabbing and using this data so far it's been a kind of voluntary initiative nine hundred of the biggest one thousand five hundred companies now starting to measure data but bit by bit is improving but the challenges as just investor behavior themselves. A growing number of vest design meet. Astonished say well they're all GONNA be big valley dispersions not just more Stralia. It could be from changes in tax. Six regulation or Brandon Pam if people think the company simply not honoring its responsibility. So it's it's a range of issues but there was definite groundswell in the market and that son what we're seeing in all business. Yeah you mentioned shareholder pressure there. We've just seen shareholders in Barclays Bank demanding that it starts the phase out financing companies that are not aligned with the Paris agreement. I wonder if both of you this seems to be something of a step up in relation relation to shareholder action when it comes to financial institutions. Is that how you say it or do you think. It's a trend already saying certainly I see. It's a growing trend and I think it comes from particularly some of the AH owners the big pension funds who are demanding action something like two thirds of all new mandates which are granted have some sort of sustainable finance aspect so they're pressurizing the managers to put their money where the mouth is but secondly on billy side of the pond in the states. There's a much richer. Set of data around proxy voting. One of the most striking statistics about the current round was the provos around environment were as frequent has governance. I think that's the first year that I've seen that. Yeah that's absolutely been the trend in it's been increasing and and one of the things I think is interesting is looking at some of these pressure groups some of these activist groups. And they're really ramping up their efforts. I was at a thing in in September around climate week here in New York and it was the principles for responsible banking which is a big. UN Consortium of banks talking about what their responsibility is as bankers anchors in terms of helping the world achieved the sustainable development goals and even at that event there was a group of protesters out there. And you could tell it really struck a chord with the bankers anchors. That were there. You know they're thinking well we're the ones that are doing well. We signed our names to this piece of paper and replacing to do this but from the activist groups. The message was that's not enough. We need to see action on this. And they're very adamant about keeping up this pressure on the banks that are financing fossil fuel companies. That's the case isn't Hugh that the banks are moving. They are taking steps to be more transparent in many cases but at the same time activists are saying listen. That's great but we just want. You should get out of fossil fuels. Yeah I think this is very challenging because you know let's face it finances the arterial system of the economy. And so we always you need power and and whilst I think many can be frustrated with the pace of change this will be more evolutionary than revolutionary some stats that McConnell US recently is one hundred trillion dollars of power and a sustainable projects which needs to be financed of the next decade and some of the going green so a new soda plant but some of them can try to be improving the quality of what we've God and we shouldn't underestimate improving. The bad to good is actually still step forward and I think that's a very nuanced and difficult argument for a financial innovation to make into a pressure. Group agree with what you said and it is very important that we have financing for going from bad to good from Brown to green. Or however you want to phrase it but I think that at that area gets very ripe for greenwashing for putting money into things that are not actually improving climate emissions. Like they might say they. Are you talking. In relation onto green bonds there perhaps green bonds is a perfect example. Yeah and then there's these things called transition bond which is a relatively new development. You Know Green bonds you run into the the problem where these companies are issuing green bonds for these projects that are allegedly going to improve carbon emissions. But it's just they were going to do anyway at stuff they're mandated to do you buy some new set of regulations and they are going out with this green bond and getting better terms as a result because they can label it his green the transition bonds. It's something that's offered offered to companies that might not usually qualify for green bond but they need to transition to be more green so this is a new category of financing financing available to these companies that helps them fund projects that move along that spectrum from Brown to green. Yeah and I mean greenwashing is a concern obviously and seems to me that more and more focus has come onto these sorts of bonds at some people find a suspect however broadly speaking. Isn't this a structural troll issue. I mean it. Doesn't it really point to the fact that there's not enough regulation either national or international of this market. I'm not sure if it's necessarily the regulation because you know if you make an example. Sir Chris hones dissolve all the company's portfolio disclose. Just this Christopher Hon who has a large hedge fund and here in London and. He said that he's not going to invest in any company that doesn't abide by the climate disclosure guidelines. That Mr Connie and you helped develop the Governor Carney server initiative but I think that the bottom line here is that actually sometimes the activists in the regulators may not be that far apart. Obviously there's a lot of good hard work to be done around the Standards Serum the investor point of view. Wouldn't it be great if as early as possible tomorrow. Really these guidelines which as you say currently voluntary were made mandatory. So I think actually in the best thing to do would be say within three years it will be mandatory and get companies to get on undo it there are still some some creases to iron out in the methodology but I think I would be very encouraging of that. Why should we wait three years when we've got the climate scientists telling us that this is a matter of extreme urgency and we really need eight to be cutting emissions as quickly as possible and therefore financing of fossil fuels needs to be effectively reigned in so for me? I would want all the companies to start today. Hey but you may not want to co defy methodologies. There's still a work in progress so I think it's by saying we will make it managed to in three years and we really rather expect you to do it. This year is sort of awed. Get to and billy what about the US. Do you think that you're going to be seeing. Regulators introducing mandatory disclosure anytime soon. No no I don't think the Political Otago Environment here is is going to lead to that at all. Unfortunately and what does that mean then if we have a world in which we have say European countries are making it mandatory the US and others a saying saying it's fine. You don't need to what then happens if we have a very uneven playing field. Well I mean I think we kind of saw something like this with GDP right where American companies have to abide by GDP CPR if they have European clients or do business in Europe so it's it's not ideal that the US is dragging its feet on these sorts of issues. But I do think that US companies will have to come around to some degree depending on what sort of regulation comes out of the you just moving onto another area. Do you think there are parts of the financial world old that Performing will when it comes to taking climate concerns into account for example green bond market is expected to keep growing this year. And we've forty saint extraordinary growth there there any other areas where we are starting to see a real change. You're starting to see a lot of sustainability linked loans Richard similar to green bonds where banks are incentivizing borrowers to hit targets whether it's emissions reductions by whatever means they can do it and if they do so they get better terms on their loans. That kind of stuff is growing a lot of support. You'll nap there's lots of really interesting pockets. One of the ones which is hardly reported about is the private equity quarter to also trying to become more sustainable an increasing number of creating their own sustainable funds. But also if you turn this around and it's not just climate if you've got a very concentrated portfolio do you really WanNa make sure your companies are being well run and that by the time you come until I was seldom they actually look as valuable as possible. So there's an increasing focus on what I'd say is the sustainability the inability of the franchise in all its manifestations and clearly firms will prioritize. But there's a growing market as well in private equity. I'm a little skeptical of of a lot of the claims coming out of the private equity market cricket and that's because of the lack of transparency. A lot of the major major companies have come out with these big impact funds. And when you look under the hood at some of the investments they've made aide you know there since there are no kind of set definitions on what is impact or how impact is measured. Some of them do a little dubious. I've been doing some research into one. One of the the bigger impact funds and just looking at some of the underlying investments. This is the Bane Double Impact Fund which is run by Duval. Patrick who's a former governor of Massachusetts. WHO's now running for president here in the US and A lot of the investments are in home health care which is a growing sector but is that really impact or is that just a play for a sector that they think. There's going to be growth in. I think more transparency from the private equity market would help a lot in terms of if they do deserve credit on this to give them that credit. But I'm skeptical of a lot of their claims this to be frank right. I'd like to ask both of you when you think we will see major banks in Europe and on wall all straight no longer financing fossil fuels. Never sorry to be a downer. But unless they're strict regulation that says you cannot do this someone will always do. Okay never look we will want to keep the lights on and so I. My sense is that this isn't evolution. And I got back the statistic if there's one hundred trillion over investments be made in energy clean energy and transition. That's an extraordinary amount of money. And fumbled in central banks buying and so whether it's capital markets all banks or insurers don't need be financing all the overall transition I think that what regulators can do and what I was certainly arguing for in the pieces through stress testing the banks us through providing better data. You can at least act to trump bring forward when that transition happens and that's probably the best one can hope for. I mean even the practice of with that transition though is likely to have an impact on a lot of industries. And how should that be managed. Well this comes down to the big public policy questions which you know the F. T. writes about so eloquently silently. I mean these are genuinely as much political questions other opportunities. I think that you know Al Gore says the investing in Green Tech is one of the biggest investment opportunities in his lifetime and at one level we need to also change the language so it was seen as much. The investment opportunities immobilized the capital in the way. That governor Connie is going to be going onto after the bank as much chaz trying to stress test and think through the risks. And I think it's a bit of sticks and carrots to try not just along but that's not going to take away the very big political challenges ages of you know who wants a carbon tax. I think that's an excellent point. Actually I I will amend my never if there is a disruptive technology that makes fossil fuel obsolete then then they will stop financing it because it will no longer be profitable. Think about whale oil. I suppose you could compare it to that. When fossil fuels came along and made will oil obsolete than nobody nobody is financing it anymore? So maybe if there is some sort of green technology that completely upends the energy sector then that could lead to it from a fan perspective. I suppose billy thank very much end. Hugh thank
"barclays bank" Discussed on The Lady Vanishes
"At it at face value to me. It looks like she transferred the money from mm C._B._A. To Barclays Bank in the U._K. and can't they dress that was on the Barclays. Bank didn't make sense to one of the sluice. That's actually leaving Kent Moore in that region of the Celtics Star. She was like really confused by this doesn't make sense when we've done deba. It turns out that my mom had kept the money in the accounting C._P._A. Made Balk lies banking Kent Ross Street and Kent her address while she's in the U._K. <hes> have you ever the head of such thing like. Have you ever heard of anyone making a bank their address while they traveling yes because recognized as we head K. cuts in those days ailing too <hes> her classic example Barn by we get a little backpackers and they don't have a high address the staying in back yet 'cause hustle whatever so they would say well. I need to get my car uh-huh leave. It and I don't want to do it to the backpackers hostel because there is like a hundred people they're gonNA get pinched or whatever so you it's common for the mechanize days to address it. John Smith Care of the Komo of Bank fifty-six Johnston Straight Bombay despite tracking down former staff of the Commonwealth bank at Byron Bay. There was still plenty of unanswered questions. I've been in regular.
"barclays bank" Discussed on FT Banking Weekly
"Japanese financial correspondent, and our guest clip. This week comes from an interview with Koji Nagai who is the chief executive of Japan the mirror. I today we'll be looking at Barclays Bank as it cuts bonuses for staff. Secondly, look at that NoMura story and the plans that Amir has to slash its representation in London and finally revelead. Is it coming of age David I of that barky story, which you in our colleague, Steven Morris broke this morning. A big cuts to Barclays bankers bonuses. Yes. So a double digit cut too. The rate of Krivel in the first quarter. Now, what does that mean? Well, bonuses are paid annually to investment bankers, but they accrue throughout the year and Barclays has had policies 2016 that has allowed it to instantly pull the lever if revenues fall investment banks that bonuses should fall by roughly the same amount as revenues falling. But that hasn't happened. Traditionally, and it certainly didn't happen under the previous head of the investment Bank. Tim throws be who successfully resisted attempts to pull that costly ver he's gone ousted recently and replaced in fact by the group chief executive Jeff Staley, and what we're hearing is the Bank is going to be much more disciplined about pulling that lever. And indeed it has to be because it has at Bramson. The activist investor breathing down its neck calling for it to scale the investment Bank down and amid an environment of falling revenues across the industry. The. Anything that has to do is to cut costs now investment bankers. Bonuses are pretty anachronistic in the current age outlay, given how much prophets of full in in investment banking to keep those levels of pay so high as Oviously been ripe for reform, but a lot of banks of held off from doing that fearful that they would lose their best staff two rivals. What do you think is gonna happen? As a result of this wise Bach is confident it not release as best staff, I suppose, it depends. Who you believe this is always the argument that has been posited, which is cut people's pay than they can go out where the question, I suppose one my ask is where are they going to go is not a huge amount of joy happening in investment banking in Europe at the moment sock. Journeys cutting jobs deutscher is very sick. Indeed. So where do these people go, and I suppose Barclays is taking the risk that people will stick with it. I suppose what stuff might say as well Americans. Doing pretty well, they might be hiring. And of course, the sectors outside of banking in the finance industry. Hedge fund and private equity sectors, which are still thriving. Yeah. I mean, I think you know, you can go to private equity you can go to the shadow banking world. If you like you can go and work for an American rival..
"barclays bank" Discussed on NewsRadio 1080 KRLD
"They are our car courageous moment. Coming up in a few minutes. More information coming out about the depth of information. Crooks got information about information. That's right. The crooks got about you in the recent data breach involving Facebook. I'm going to fill you in on what you need to do what you need to what precautions you need to take. And just the knowledge of what kind of data? The crooks got a hold of to cause mischief. And coming up later. There's a lot of conversation about what happens in the aftermath of a big storm tornado hurricane. What happens to the structures? And I want to talk about something that I believe we need to think about if we do decide to build our own house and something we need to think about as a society to deal with what happens with the storm. What things we can do to limit the damage talk right now about. Market share war that is emerging in banking. Is the traditional banking players are facing a massive threat from the new waves banks that offer much better deals on pretty much every facet and phase of banking. And now one of the big European banks is going to offer online only retail banking in the United States. Barclays Bank is coming in. And they're starting with reaching towards the people.
"barclays bank" Discussed on BizTalk Radio
"So ladies and gentlemen, do something a little bit different this morning. You ready? What are these names haven't common? Ford. General motors. Alibaba snapping Dow Duponts, which is on the Dow thirty Morgan Stanley. International paper. Invesco? Mascow? PPG industries international game technology. Barclays bank. STM microelectronics Manulife financial. Tom Motors Huntsman. Alcoa, Credit Suisse, borgwarner Pitney Bowes landed company packaging corporate America. Louisiana Pacific connectivity. Novo Nordisk Olin Corp. Kim Moore's company my land. Switch inc. Delphi. Technologies. Oh smith. Sealed air data Inc. Unite on United Microelectronics, Magna international world, pull HDFC Bank. Fortune brands Owens. Corning Applied Materials.
"barclays bank" Discussed on AppleInsider Podcast
"I click unlocked, it gives me the full price immediately and that was the distinction that I didn't like. But that's not important because that's been going on for ages. What's important here. Is that I get a Cup of tea. What's important here is, is that we have these more expensive models, and even the iphone x. are which is of course the one people are calling. The affordable model is more expensive than many of the models have been traditionally with Egypt's. I sense of scale changes is the Amazon model. The role is betrayed prices. You're the top one lewd expensive that they know nobody will buy, but it makes the the other two seem reasonable because there's something heads that bias. So yes, I'm thinking of the cheap one and it's ridiculous, isn't it? I'm being very foolish. You know, I'm looking at the chart and we. The Xsara is kind of in line with with the other things here. Right? The. Xsara one hundred twenty eight gig is cost a bit more than the seven plus thirty two gig in a bit less than the seven plus two fifty six gig. The x sixty four is in line with the six plus thirty two gig. So it's it's not absurd. It's also in line with with where the the six iphone six thirty, two gig. Six plus sixteen gig were. So it's not completely out of line for the iphone x. are to be what it's priced at. But the idea that it's the two fifty six gig model costs more than say, seven plus one hundred twenty eight gig did it launch is sort of a sounding. Yes. I'm trying to think of ways to not think about the money, obviously on a see my accountant would rather did more. Can't you check. Another difference though with America in in the UK is isn't always possible. But every now and again, particularly in the run-up to Christmas, apple seems to deal with up to a Bank here, Barclays Bank to do interest free. Loan's payments of things. I think at the moment is look, there isn't the interest free one, but there are other loans and things I presumed they're similar financing options in the state. So at least make it spreadable apple. Rare. What happens instead is that the carriers will make deals, you know, buy one get one, and they will heavily discount a very affordable iphone model and the hopes that you'll open up two.
"barclays bank" Discussed on FT Banking Weekly
"Yeah i think there's a few things going on i mean festival is the question of whether qualls will be that to reinvigorate the fsp that has been some skepticism in the states expressed as to both the fsp and the basel committee the you know these supranational agencies full of unelected officials that tell countries what to do essentially and obviously the us has some skepticism over that but what better way to control that global agenda other than by sitting on it and controlling yourself say there is then the converse is he indeed the sort of fifth column as it worth it might be put in place to take the whole institution down but i think a few things to talk about in terms of mr kearney's championship it is true that in various for they have now posed and done a similar sort of evaluation not least to the bank of england itself the basel committee which is the technocratic institution that comes under the fsp isn't it they worked side by side and have slightly different remits but yeah i mean the has been in the last couple of years i think a recognition that political memories of the financial crisis have faded and therefore regulators and central bankers need political by and to make fundamental reforms and political philosophy of the day at the moment is economic growth job creation it's not firefighting banks so there has been this pause more widely in the world and i think the fsp is just yet another institution this recognizing that and in mr kearney's letter he does say that the fsp can only operate via consensus membership and reflect the philosophies of its constituent members and therefore if those members are politically going along a different path than i think it's probably some pragmatism that's going on here that is a telling point fascinating see if mr calls is indeed confirmed as the us nominee and as the speech.
"barclays bank" Discussed on FT Banking Weekly
"Well let's move on to our second story and am joined by caroline whose hits talk about the fsb this is the financial stability board the global body that oversees and coordinates banking regulation you've been writing carolina about the pivot that the fsba is going through what exactly is happening that's right it's a bit of an end of era rarely mark carney who is the governor of the bank of england but also chas the financial stability board rate a letter to the g twenty finance ministers and central bankers essentially make up the fsp ahead of their summit in argentina at the beginning of this week and he described this pivots from making new regulations to instead evaluating the consequences of the plethora of rules that the fsp has made over that decade so this is interesting for a number of reasons not least because this kind of regulatory pulls comes as the us in particular is running back a lot of the pace crisis reforms that were put in place over the last decade and notably we reported last week that the us treasury wants to nominate rundle cools who is the new fed governor who supervises the big banks as a replacement for mr connie at the fsp when he steps down at the end of the yeah it very much looks like a clever bit of politics doesn't it from mr kearney because he didn't want to hand over the reins of the fsb which i think he does at the end of this year to whoever's success be while seeming the all his work is being undone by that successor if he can paint the picture of a smooth transition then so much the better.
"barclays bank" Discussed on FT Banking Weekly
"With the annual results last month he promised to restore the dividend to the level it had been before he took over and decided to cut the dividend by more than half he's also said that the bank will benefit strongly from recent us cuts to corporation tax and he said that volatility has been surging since the start of this year and that's expected to help the barclays investment bank so things are showing signs of turning around there are still some other clouds out that they bank is being sued by the us department of justice over alleged mis selling of subprime mortgage securities before the financial crisis and it also faces criminal charges along with a handful of former barclays executives including the former chief executive john varley in the uk where it's being criminally charged over the details of its fundraising from qatar in two thousand eight in the heat of the financial crisis so it clouds still hanging over them but in terms of the performance of the business things are starting to move in just staley's favor he's also talked about the potential for a share buyback which would be very attractive idea for investors including presumably mr bramson and you could see the share price start to move upwards at the moment is trading at a discount of some thirty to forty percent to its book value whereas the big us banks performing much better with much higher equity and they're trading above that book value so please could see a big increase in its value but as i mentioned there are still these refugee classes they need to clear those and start to show some evidence that they're out of the woods.
"barclays bank" Discussed on FT Banking Weekly
"Shen is over thirty billion pounds it's one of the uk's four clearing banks it's incredibly strategic important ain't on an international level it is closed by global regulators as globally systemically important institutions so this is a much bigger chunk to bite off four chevron and what are the main reasons about lee's recent underperformance and what progress has it made in fixing those problems barclays has had a tough time of late almost really since the financial crisis it has been struggling last year the bank was one of the worst performing shares in the sector it fell more than twelve percent last year while the european banking index rose some seven half percent and their multiple reasons for this one is the barclays as being heavily exposed to the fixed income trading markets which have been incredibly calm and that means very little activity has been low volatility and they've suffered as a result of that rapid fall in renews in one of the core parts of the barclays investment bank they've also been hit by changing capital requirements they had operated with very little capital before the financial crisis and since the crisis regular has been forcing them to increase the amount of capital held their sets and that's reduced the return on equity that they can generate and force them to shrink the balance sheet and finally they have been hit by rubber large amount of litigation and they've paid billions of pounds to settle things like investigations regulators into fixing the libel interest rate market who also the foreign exchange market and then not out of the woods yet there are several big live investigations that are still at standing on the bank so all of that has led to lots of restructuring of heavy charges and poor profitability in for two thousand seventeen the bank last month reported a loss of over one point nine billion pounds and i think if you take all the since the financial crisis in more than half of them it's actually made a net loss so.
"barclays bank" Discussed on FT Banking Weekly
"Welcome to banking weekly from the financial times with me patrick jenkins joining me in the studio today is caroline bingham financial regulation correspondent were also joined by laura newnan aren't correspondent who's being in singaporenew and she's been talking to rohamn moghadam his the asian handing pal this week we'll be talking about barclays and the arrival of a new activist shoveled secondly the financial stability board the global regulatory body has changed tack and finally to that interview with the head of paypal asia i oh i look at barclays we've recorded this segment earlier it's activists investment fund which is quite a significant interest involves these biggest banks increasing pressure management turnaround the banks recent faltering performance let's talk about that hannah murphy spoke to martin arnold fte's banking editor and jonathan guthrie have lex she began by asking martin how much money the firm sherborne controlled by edward bramson had put into barclays and why we should care i can tell you what should born has disclosed which is that it has invested five hundred eighty million pounds in buckley shares and derivatives and as a result of that it says that it now owns just under two percent of barclays voting rights directly through shares held and another just over three point two percent through derivatives and as you mentioned at the result of that it's got between four point two percent of voting rights in pockets which barclays says if you go by voting rights makes it the fourth largest investor in prisons based banks behind capital group black rock and the qatar investment authority so that's how much they've spent and the reason we can't is because as you said sherborne is not a typical institution investor is well known as an activist investor and has carried out activists campaigns pushing for changes in management changes in strategy at several uk financial services groups including f and the management company and a couple of private equity groups electra and three i both were listed private equity groups three i never actually went ahead with the activists side of its mandate because the shares rose in the first few months of its ownership so it was able to book profit and sold fairly quickly without actually pushing for any changes now barclays is a much bigger kettle of fish it's market capitalism.
"barclays bank" Discussed on Bloomberg Radio New York
"Barclays charging its bank unit criminally in a class action lawsuit aupairs claimed there is a conspiracy to keep their compensation below minimum wage and the ramifications of new york civil rights lawsuit against harvey weinstein and his studio barclays bank unit is facing a new criminal charge over the lenders controversial fund raising at the height of the financial crisis a decade ago the uk serious fraud office is charging barclays operating unit with unlawful financial assistance related to a threebilliondollar loan the bank made to cutter in november of two thousand eight this is the second time the sfo has charged barclays in connection with the loan last unit file conspiracy to commit fraud and unlawful financial assistance charges against the holding company and four former executives including ex chief executive officer john barley a trial is scheduled for early 2019 both barclays and it's bank unit intend to contest the charges my guest is john coffee professor at columbia law school jack explain the charges please hurd nodded new charge less secure they charge the holding company of barclays bank now they've come back and charged the operating company the bank itself the significance of that addition is that the operating company holds barclays banking licence and if it were convicted in a trial that will occur next year it is conceivable that bar thinks it has to forfeit its banking licence and cease to be back now that signature very remote about as likely as the federal reserve shutting down citicorp over a similar violation more likely the serious fraud office is seeking to ratchet up the pressure on barclays because barclays has made the very unusual decision for bank to go to trial and let it all hang out and that trial next year will be there gordon earlier interesting because the transaction you briefly described does sounds suspicious explained that transaction that's in class barclays which speaking to race sixteen point seven billion dollars in two thousand eight to avoid a bailout as part and parcel of all of their barclays itself made a three billion dollar loan to a group of investors and qatari including the sovereign wealth funds of our country and also the prime minister's personal firm those investors then reinvested those loans.
"barclays bank" Discussed on Bloomberg Radio New York
"Hoping to whom bird law i'm june groso ahead in this hour digital currencies get name checked by the sec a federal judge orders the trump administration to implement energy efficiency standards a uk regulator ratchet up the pressure on barclays charging its bank unit criminally in a class action lawsuit aupairs claimed there was a conspiracy to keep their compensation below minimum wage and the ramifications of new york civil rights lawsuit against harvey weinstein and his studio barclays bank unit is facing a new criminal charge over the lenders controversial fund raising at the height of the financial crisis a decade ago the uk serious fraud office is charging barclays operating unit with unlawful financial assistance related to a threebilliondollar loan the bank made to cutter in november of two thousand eight this is the second time the sfo has charged barclays in connection with the loan last june if file conspiracy to commit fraud and unlawful financial assistance charges against the holding company and four former executives including x chief executive officer john barley a trial is scheduled for early 2019 both barclays and it's bank unit intend to contest the charges my guest is john coffee professor at columbia law school jack explain the charges please earlier fared this is not a new charge less cure they charge the holding company of barclays bank now they've come back and charged the operating company the bank itself the significance of that addition is that the operating company holds barclays banking licence and if it were convicted in a trial that will occur next year it is conceivable that parties would have to forfeit its banking licence and cease to be back now that signature very remote about as likely as the federal reserve shutting down citicorp over a similar violations more likely the serious fraud office is sticking to ratchet up the pressure on barclays because barclays has made the very unusual decision for bank to go to trial and let it all hang out and that trial next year will be missed according to really interesting because the transaction you briefly describe does sounds suspicious explain this transaction in clouds barclays with seeking to race sixteen point seven billion dollars in two thousand eight to avoid a bail out as part and parcel of all of their barclays itself made a three billion dollar loan to a group of investors and qatari including the sovereign wealth funds of their country and also the prime minister's personal firm those investors then reinvested those loans in barclays.
"barclays bank" Discussed on Bloomberg Radio New York
"Is the second time the sfo has charged barclays in connection with the loan my guest is john coffee a professor at columbia law school jack explain the charges lease this is not a new charge last year they charge the holding company of barclays bank now they've come back and charged the operating company the bank itself the significance of that addition is that the operating company holds barclays banking licence and it'll were convicted in a trial that will occur next year it is conceivable that barth at the fourth at its banking licence and seems to be back now that signal very remote about as likely as the federal reserve shutting down citicorp over similar violation more likely the serious fraud office is seeking to ratchet up the pressure on barclays because barclays has may be very unusual decision for bank to go to trial i let it all hang out and that trial next year will be extraordinarily interesting because the transaction you briefly described does sound who stations this would go ahead explained that the transaction that seemed questioned her barclays was speaking to raise sixteen point seven billion dollars in two thousand eight to avoid the bailout as part and parcel of all of their barclays itself made a three billion dollar loan to a group of investors and qatari including the sovereign wealth funds of their country and also the prime minister's personal fun those investors then reinvested those loans in barclays stock allegedly buying the stock to prop up the bank price to pop pop up the stock price and assured the public that no bail out with them necessary now in connection with that uh barkley's paid the qatari investors some four hundred forty five million and advisory services fees which cynic might study found it's a little bit like the broad and that's what the.
"barclays bank" Discussed on WHO NewsRadio 1040 AM
"A on a right as long as it's done slowly were never going to complain east of the rockies you're on the air with ed pen cal hi gentleman it's going to talk to you tonight and to user where are you i'm in oklahoma okay uh i was wondering if there is something like an fdic equivalent that works with the offshore banks and how much they insure up to there is no such thing uh that really works there is a work innovation that calls itself the idea i the the international deposit insurance corporation but it really doesn't have any backing uh basically in these other countries you do business on the strength of the institution like a barclays bank or of this that uh uh there's not something that crosses any borders or lines certain individual countries have their own kinds up insurance but there's no international insurance that that really you know provides any type of protection so it it be safer if i was going to put it in it like a german bank that had a uh a branch and aruba or something like that yeah you take a large international bank a bank that has got worldwide uh branches experience and stability they are going to be a much better candidate for your business than the joe bag a donuts bank a believe like the bundesbank or something yeah it's still not riskfree though is what you're nothing today nothing is risk free i mean weeks weeks get to step out of the car and in walk down the street and there is risk yeah but others there's no risk free banking even in the united states we like to think there is but uh over how thousand dollars ever if you look at um institutions than like we were talking about earlier on the island of man for example they have been safely storing money and providing interest accounts for people far longer than uh than any bank in the us has been doing it right right at yes they've they've got a much greater longer a a banking history than we've ever thought of and they've never had the the failures in the problems so that is another way of thinking about a caller okay well than i'll a man in debating 'international banks which is that market take care um west of the rockies you're on.
"barclays bank" Discussed on Global News Podcast
"Of course one of the things you lose if you really have one eye is depth perception could you'll camera all some version of it help with that you're looking at a time when instead of just a camera records you have something that replaces the i as an instant window on the world i would say that the technology is coming where you could replace perception but more importantly you could replace vision in people who are blind i think though that the the real future insight restoration is not video cameras attached to your retina but it's it's converting images into neural cold in the first place so learning the language of the brain because if you fall asleep in your eyes are closed you can see things very vividly because there's neural called there's there's brain language that describes things how they look to your brain so i think we can bypass this d i cavity and the retina altogether canadian filmmaker rope spend speaking to dan damon australian scientists to carrying out pioneering research by using high frequency ultrasound to examine zebra fish in the search for new ways to diagnose treat or even prevent heart disease in humans the victor chang institute in sydney is home to ruled and forty thousand of these tropical fish and from there phil mercer reports they have hot smaller than a grain of rice but zebra fish have the remarkable ability to fully regenerate heart muscle if it's damaged imagine if we could do the same lifting him out with a spoon into the sponge underneath the scana non lowering the prey on say the area by the hottest celine santiago is a phd student mastering eutechnology here in sydney but some locking the secrets of these tiny tropical fish which could shed new light on heart disease in people.
"barclays bank" Discussed on Global News Podcast
"Off the his supposes recite the pledge of allegiance we find votes his still staunchly loyal to donald trump like joe web who'd come wearing his make america great again please fell heavily the president here on immersion her heart out you're a parliamentary power donald from here's off but other conservatives hit a not so loyal to the president's this suburban congressional district on the outskirts of atlanta is not natural trump country it slice cutting cul de sac so the home to whitecolor republicans many of whom never warmed to the billionaires bluecollar populism it last november's presidential election donald trump won this district by single points for years earlier mitt romney won it by twenty three many prosperous republicans especially haven't been won over by the trump presidency well the type republicans who aren't happy with trump in the sixth district are sort of common sense middle of the road driven by fiscal issues tight people mike a local republican who couldn't bring himself to vote for donald trump well i think trump is dampening enthusiasm republicans would have had for someone like karen handel in a republican voters are dutiful and loyal as we stand in line to think of ronald reagan sort of the way we do it but also has found new voters he has signed up every single available democrat to support those he asked and he is within a whisker of winning staying outright at a time when nothing in politics seems service and a win for the democrats would unnerve republicans back in washington ahead of next year's congressional midterm elections it would also provide the clearest sign yes.
"barclays bank" Discussed on Global News Podcast
"Australia has said it will suspend all military air operations in syria until further notice this comes a day after winning by russia that it would target coalition planes following the shooting down of a syrian plane by the us the australian defence ministry said the move was a precautionary measure sir how much of an impact will this australian decision have on coalition operations in syria at a fence and diplomatic correspondent his jonathan marcus in short term not a huge amount to the overwhelming bulk of australia's airstrikes have taken place in iraq although it has a hit targets in syria as well it's rose rosary small contribution probably six strike aircraft tanker aircraft under an airborne early warning aircraft were involved in the a coalition air campaign uh you know it's a capable contingent even though it small uh it's that ribian illustration i think of the unease in many quarters when faced by this new russian threats the words were very specific uh you know that coalition aircraft and drones would be targetted as the russians poses a if they were operating west of euphrates river in areas where russian aircraft themselves were actively engaged do you think the russians will be able to constrain the coalition efforts in syria i think everybody's wondering whether what the russians saying his rhetoric or whether they genuinely intend to deny a part of syrian airspace to the uslead coalition it has to be said that many of the airstrikes that conducted by the coalition in syria off to the east of the freighters.