Barclays Share Discussion Threads

[bernie37] 12/2/2018 13:55

Why New Barclays Fraud Charge Isn’t the Threat it Appears
U.K. bank faces new charge against the unit that holds its license to operate: that is a risk to its business, in theory at least
By Paul J. Davies
Feb. 12, 2018 8:46 a.m. ET
0 COMMENTS
Barclays BCS 0.56% was slapped with another fraud charge by U.K. investigators Monday, following last summer’s charges against the company and former executives, including its former chief executive. Luckily for Barclays’s investors, this new element sounds more serious than it probably is.

The charges relate to Barclays’ £12 billion ($16.67 billion) emergency fundraising during the crisis of 2008, with the most serious element being that the bank in effect lent its Qatari investors $3 billion that they used to buy shares in the bank. Barclays denies the charges and intends to fight them in court.

Monday’s additional charge was brought against Barclays’ operating company, which holds the lender’s banking license. Last summer’s charges were against the holding company.


The new charge, in theory at least, puts the bank’s entire existence at risk: if it is found guilty its license could be revoked. The Serious Fraud Office may think this gives it more power to force Barclays toward a guilty plea and settlement rather than fighting it out in court.

However, there are reasons to doubt whether the bank’s license is really under threat. Barclays is the U.K.’s second-biggest bank by assets: the potential for chaos and disruption for its customers and the wider financial system caused by taking its license is significant, to say the least. The Bank of England, which is in charge of financial stability, didn’t reply to questions about how it would handle such an event.

The additional charge was brought against Barclays’ operating company, which holds the lender’s banking license.
The additional charge was brought against Barclays’ operating company, which holds the lender’s banking license. PHOTO: BEN STANSALL/AGENCE FRANCE-PRESSE/GETTY IMAGES
Charging the operating entity may be important in demonstrating the case: it, not the holding company, made the loan at the center of the case.

The SFO may have held off previously out of concern that a threat to the license could undermine depositor confidence in the lender. Yet criminal convictions against banks no longer seem like existential threats. Several have now pleaded guilty to various criminal charges since Credit Suisse became the first to do so in the U.S. in 2014.


Barclays shares weren’t hurt by Monday’s news. The crunch point remains far off, with any court battle not even due to begin until early 2019. Yet make no mistake, losing the case would cost the bank dearly in fines and current executives would likely lose their jobs over the choice to fight.

[nemesis6] 12/2/2018 13:06

shame were so good at paying multi million pound salaries to ceo failures because they talk with a plum in their mouth

[manics] 12/2/2018 11:48

The great guys heard the "toot-toot" outside the office though it is not the sandwich van this morning. It's truth & justice that comes a knockin' today imo.

SP reacting accordingly as is right and proper imo.

[johnwise] 12/2/2018 10:42

Pensions disaster: UK has WORST pensions in developed world (you’re better off in MEXICO!)

THE UK’s state pension system was described as unsustainable last night as it was revealed that the payments are the developed world’s least generous.

[johnwise] 12/2/2018 09:20

A de-ramper can and will use all of the tactics to making sure their message is heard.

[manics] 12/2/2018 08:48

The Great Guys at Barclays are pulling out all the stops to show a rise on this devastating day for BARC. This will set the SFO seething imo.

Just as Deutsche Bank ultimately found, Barclays friends will be few in the end imo.

[johnwise] 12/2/2018 08:46

Barclays to join credit card ban

LONDON: Barclays is likely to follow other major lenders in the United States in stopping customers from buying Bitcoin and other cryptocurrencies with its credit cards, according to an interview with a senior executive at its credit card unit.

[clond] 12/2/2018 08:22

Still think the drop on Barcs recently wasn't as bad as feared compared to the market. If FTSE gets back to 7300 then this could push through the £2-00 mark ..... until the results ???

[clond] 12/2/2018 08:20

owned by the tax payer so no reason to get that cash - Qatari money however is a different story.

[chris coxon] 12/2/2018 08:19

They block your emails porty, because you are offensive!!

[portside1] 12/2/2018 08:16

in my view the SFO IS RUN BY CRIMINALS THEY BLOCKED MY E MAILS BECAUSE THEY DID NOT LIKE FACTS THE TRUTH IS NOT WHAT THEY WANT TO HEAR

THE SFO ARE RUN BY CRIMINALS

[portside1] 12/2/2018 08:14

SFO , so they charge barcs , well going to speak to them on RBS and their capital raising , that was fraud yet no charges , rbs was run by criminals so why have they not acted against rbs the bank of criminals

[keifer derrin] 12/2/2018 07:51

what happened to innocent until proven guilty.....guess we like prefer trial by media these days.....

[johnwise] 12/2/2018 07:50

Barclays’ Easygo card targets 16 million unbanked Ugandans

Barclays Uganda and Vivo energy have unveiled a Visa-backed pre-paid card that will help shoppers go about their purchases without having to carry cash.

[manics] 12/2/2018 07:45

MORE allegations of fraud
MORE allegations of criminality
MORE allegations this most murderous of dogs will be forced to defend
AND ALL from one of the top lawmakers in the land.

I DEMAND ALL INVESTORS OF MORALITY AND STANDING EXECUTE ACCORDINGLY. imo

[manics] 12/2/2018 07:43

DISGUSTING

Barclays' core banking business has been charged by the Serious Fraud Office over its fundraising deal with Qatar at the height of the financial crisis, adding to the charges already brought against the parent holding company and four former executives.

[bernie37] 11/2/2018 13:45

What:
Its fair to say that Barclays has had a pretty horrible year. The stock is down around 11% since January and is still trading a good 14% lower than where it was 5 years ago. Any hopes of a meaningful sustained turnaround from this bank have been dashed time and time again through the year.

Furthermore, there isn’t even a high dividend yield to compensate investors for the disappointments. Barclays is the least loved of the UK banks right now, HSBC is seemingly going from strength to strength, optimism is returning to Lloyds and Royal Bank of Scotland has rallied over 25% through the course of the year. Global banking stocks (not just the UK) have rallied in 2017 and Barclays hasn’t.

Making matters worse, Goldman Sachs have confirmed their sell rating on the stock and have even included it on their “List of sell ideas for 2018”. Goldman’s highlighted Barclays lower margins on mortgages and increased competition on deposits, which were reflected in their third quarter results, as the reason for the bearishness. Furthermore, they see those same pressures remaining in 2018.

The there is the small matter of the dividend or perhaps better put, the matter of the small dividend. Barclays dividend yield is just 1.5% which compares poorly to Lloyds, which has a yield of 2.5% and HSBC, which has a yield of an inflation busting 5.4%. Adding to the dividend woes was Barclay’s weak performance in the Bank of England Stress test.

The stress test showed that Barclays had the lowest margin of error. There are some concerns that they may see increased pressure to increase capital, which could impact on the banks ability to raise its dividend. Finally, looking at the bank’s results, earning per share has fallen in three of the last 5 years.

This included a headline grabbing drop of 60% in 2013 and another heavy 22% drop last year as a slew of one-off adjustments, write-down and charges have played havoc with the banks profitability.

How: Barclays is trading down 11% on the year although, the price has picked up in recent weeks. The share price is up 4% this month, lifted in line with a broad rise in the FTSE 100 which could present a good entry point. Barclays continues to trade below its 200 sma confirming a bearish trend.

[manics] 09/2/2018 21:28

Don't forget -I extended this once proud community an incredible 2 months warning of problems ahead of Smart Investor rolling out.

[bernie37] 09/2/2018 16:44

The share price for Barclays PLC with ticker code: LON:BARC has stepped up 1.46% or 2.76 points in today’s trading session so far. Market buyers are a positive bunch during the trading session. The high for the period has reached 192.8 dipping to 190.04. The volume total for shares traded up to this point was 17,015,279 with the daily average number around 36,766,609. The 52 week high for the shares is 244.4 around 55.34 points difference from the previous days close and putting the 52 week low at 177.3 which is a difference of 11.76 points. Barclays PLC has a 20 day moving average of 203.53 and now the 50 day moving average now of 202.09. The market cap now stands at £32,725.26m at the time of this report. The stock is traded in GBX. Mcap is measured in GBP. This article was written with the last trade for Barclays PLC being recorded at Wednesday, February 7, 2018 at 12:54:32 PM GMT with the stock price trading at 191.82 GBX.

[qantas] 09/2/2018 14:40

USA Positive at open..

[johnwise] 09/2/2018 13:01

Barclays targeted by short sellers in the wake of long hedge fund support

[smurfy2001] 09/2/2018 09:09

Manics, lol true.

[extrovert] 09/2/2018 08:55

The present gov are more interested in the continual power struggle that has dogged them for many years than giving brexit their full attention. They are backstabbing each other at every opportunity and personal interest/gain is their main priority. Everyone are sick to the core listening to their petty squabbling and childish behaviour not to mention the blatant lies they all use to try to get their own way. You could walk down any high street and pick fifty people at random and they would be able to make a proper job of trying to sort out what people have voted for.