Barclays’ (BCS) inconsistent top-line performance is a major near-term headwind amid a challenging economic scenario. However, the bank’s restructuring initiatives continue to help manage operating expenses.Barclays has been witnessing volatility in both net interest income (NII) and net fee, commission and other income in the last few quarters, mainly on the back of a challenging operating backdrop.In 2021, NII declined, but net fee, commission and other income rose marginally. However, in 2022 and the fir ...

Barclays has entered into an agreement to acquire Tesco’s retail banking business, including its credit cards, unsecured personal loans, deposits and operating infrastructure.The acquisition of Tesco Bank will be carried out by Barclays UK, the companies said in a Friday (Feb. 9) press release.In addition, Barclays UK will enter into a long-term strategic partnership with Tesco Stores Limited for a period of 10 years, according to the release. Through this partnership, Barclays will offer financial services ...

Barclays PLC (LSE:BARC) has committed to ending financing for new oil and gas projects and said it will reign in spending on firms involved in expanding fossil fuel production. New finance for upstream oil and gas projects and related infrastructure will cease immediately, Barclays said in a statement on Friday. Financing for non-diversified energy firms will be curbed from 2025 if over 10% of their long-term expenditure is set aside for expanding oil and gas production, meanwhile.  “The scale of our busine ...

NEW YORK--(BUSINESS WIRE)--Barclays today announces the appointment of Na Wei as Global Head of Leveraged Finance, reporting to Travis Barnes and Tom Johnson, Global Co-Heads of Capital Markets at Barclays. Under Ms. Wei’s leadership of Barclays’ Leveraged Finance business in EMEA the firm achieved a top three ranking in 2023 according to Dealogic data, up from number seven in 2022. Ms. Wei has also been instrumental in materially increasing Barclays’ market share with the firm’s top twenty Financial Spo ...

There is a “clear opportunity for value creation” in Zegona Communications (LSE:ZEG)' acquisition of Vodafone Spain, reckon equities analysts at Barclays PLC (LSE:BARC). However, the ambitious, highly leveraged €5 billion deal, which was signed off by the European Commission this week, is not without its challenges. Yes, Vodafone Spain has a 17% grip on service revenues and significant shares in broadband and consumer mobile postpaid sectors, but its market influence has waned over the years. New entrants a ...

Barclays PLC (BCS) , which has been considering selling a stake in its U.K. merchants’ payment processing unit for a while, is now targeting buyout firms to buy a majority stake in the business. The news was reported by Reuters, citing people with knowledge of the matter.In September 2023, it was reported that BCS was looking for a partner to boost the business.Initially, the British bank had conversations with specialist payments providers regarding a deal. However, the conversations did not make any progr ...

Barclays has been barred from taking part in municipal bond issuances in Texas after being classified as a ‘fossil fuel boycotter’ by the US state. Ken Paxton, the state’s Attorney General, said the UK lender had not responded to questions about its pledges to cut greenhouse gas emissions. Known as the US oil state, Texas has already struck other banks off its lending list due to concern about their ESG stances. According to Reuters, Barclays was identified by the Attorney General as part of the Net Zero Al ...

Barclays' strategic review, to be announced on 20 February, can be the catalyst for a re-rating of the bank after years of underperformance, according to analysts at US rival JP Morgan. “The bank has traded at a material discount to tangible book for over a decade, with the equity story out of favour with many investors, but at current valuations, we believe that the stock retains significant upside potential which can be unlocked.” JP Morgan expects the review to focus on the return on tangible equity targ ...

Barclays has received an earnings downgrade from broker Shore Capital ahead of its full-year results on 20 February. The broker has kept its 'buy' recommendation but chopped its earnings and dividend expectations by 9% to 27.2p and 8.2p respectively. A likely challenging quarter for the investment bank arm is one of the reasons for the downgrade with tough comparisons and a very little capital market activity. On the plus side, the trends for deposit migration and bad debts have been better than expected. B ...

Investors should pass on shares of Ericsson and Nokia, say Barclays analysts who downgraded both telecom equipment providers, citing unappealing valuations and struggling radio access networks (RAN).The pair were dropped to underweight from neutral, with price targets lowered 15% and 35%, respectively. Shares of Ericsson ERIC, +1.49% ERIC.B, -3.04% fell over 3% and Nokia NOK, +0.58% NOKIA, -2.39% dropped more than 2% locally, with those losses reflected in U.S-listed shares ahead of the market’s open. “Tele ...