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Barclays shuts 'tax avoidance' unit

Barclays is to close down a part of its business which helped clients avoid tax, the BBC understands.


Exclusive: Libor probe claims Barclays executive and a trader


The fallout from an investigation into the attempted manipulation of global benchmark interest rates has again rocked Barclays Plc, as the bank recently ousted a top executive and a trader in New York for their roles in the scandal, according to regulatory filings obtained on Tuesday.


Big Challenge for New Barclays CEO

Barclays has moved quickly to fill the void at the top. The bank Thursday named Antony Jenkins, the head of its retail and business banking unit, to succeed Robert Diamond, who was forced to resign July 3 after the Libor rate-rigging scandal.


Barclays dragged into new probe after Libor blow

Barclays Plc revealed a new regulatory probe and more U.S. lawsuits on Friday, making it harder for the British lender to rebuild its reputation damaged by the central role it played in the interest rate-rigging scandal shaking banks.


Barclays flagged Libor problems to Fed in 2007


Barclays alerted U.S. regulators as far back as 2007 to concerns that banks were rigging benchmark interest rates, according to documents released on Friday, but policymakers on both sides of the Atlantic did not appear to take decisive action, underscoring the chaos of the financial crisis.


Ratings agencies cut outlook for Barclays

Credit rating agencies turned up the heat on Barclays Plc, threatening to lower its credit ratings on concerns over who will run the bank following the departure of Chief Executive Bob Diamond and an uncertain strategy.


Barclays Chairman Agius Resigns - Wall Street Journal

Barclays said it would launch an independently led audit of its business practices as Chairman Marcus Agius confirmed he would resign amid a settlement over an interest-rate manipulation probe.


Moody's cuts credit ratings on 15 major banks

JP Morgan Chase

Moody's Investors Service lowered the credit ratings of 15 major banks Thursday, including Bank of America, JPMorgan Chase and Goldman Sachs, saying their long-term prospects for profitability and growth are shrinking. The ratings agency said it was especially concerned about banks with significant financial markets businesses because those markets have become so volatile. Some of the largest European banks were also downgraded, including Barclays, Deutsche Bank and HSBC.


Card Issuers to Test Mobile Wallets

J.P. Morgan, Capital One and Barclays plan to let customers use a mobile-payments service being developed by wireless carriers as part of a trial set to begin this summer.


Fitch downgrades world's top banks

Fitch Downgrades World's Top Banks

The ratings firm Fitch downgraded a cluster of the world's largest banks Thursday, pointing to trading challenges facing international markets. The banks included Bank of America, Morgan Stanley and Goldman Sachs, as well as Europe's Barclays, Societe Generale and BNP Paribas. Germany's Deutsche Bank and Switerzland's Credit Suisse were also downgraded.


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