Barclays Share Discussion Threads

[johnwise] 08/2/2020 08:50

Fox Business

Kudlow: The US economy is booming and jobs are booming

VIDEO:

[portside1] 07/2/2020 19:13

Diku have not seen or had any info so could be good news

[diku] 07/2/2020 19:08

Yes a good comeback...maybe results/info leaked...hence brokers have been positive lately on Barc....

[portside1] 07/2/2020 16:40

Good close for the week now up and over 200

[portside1] 07/2/2020 16:40

If they are found guilty then ever share holder can claim against Brown and the lloyds directors over the HBOSAnd the Bank of England who broke all the market and U.K. laws by not informing holders of giving billions to HBOs The sfo are clueless simpletons Boris must disbanded this badly run quango

[bernie37] 07/2/2020 15:40

Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.

The case against former Barclays Plc executives resembles the Titanic, with prosecutors ignoring the “iceberg”; of exonerating evidence in its way, a lawyer for one of the defendants told a London jury as a high-profile fraud trial approaches its end.

A witness statement from the bank’s ex-Chairman Marcus Agius fundamentally undermined the Serious Fraud Office’s case that executive Roger Jenkins tried to fool investors with a side agreement with Qatar, said John Kelsey-Fry, a lawyer for the former Barclays’ former Middle East investment banking head.

The SFO alleges that two so-called Advisory Services Agreements between the bank and Qatar were simply a way to pay the Gulf nation 322 million pounds ($416 million) in extra fees in return for a 4 billion pound investment in Barclays at the height of the 2008 financial crisis. The SFO says Jenkins and co-workers Tom Kalaris and Richard Boath conspired to hide the fees to prevent other investors knowing that the Qataris were getting a higher investment commission than them.

Kalaris, who ran the wealth management division, Boath, who headed the bank’s financial institutions group in Europe, and Jenkins deny the allegations.

The trial, which began in October, is nearing its conclusion, with only closing arguments from lawyers for the defendants and the judge’s summary of the case remaining. The fraud charges carry a maximum 10 year sentence.

Their lawyers acknowledge that the ASAs were linked to the cash injections, but say that they made sense in their own right.

Barclays was trying to develop a deeper relationship with a nation that was becoming enormously wealthy as it ramped up production of natural gas, and the ASAs, they say, represented a genuine partnership.


On Friday, during the second day of his closing argument, Kelsey-Fry told the jury that the prosecution had completely ignored Agius’s witness statement. The former chairman described Barclays’s hope of achieving “favored nation status,” meaning that it would become Qatar’s provider for all banking services. That phrase backed up Jenkins, who said in 2008 that he aimed to become Qatar’s “preferred provider,” a term which describes the exact same concept as the one Agius refers to, Kelsey-Fry said.

The statement from Agius “blows this prosecution case out of the water and they know it and they can do nothing about it,” Kelsey-Fry said. It would be like an announcement over the loud speaker “from the captain of the Titanic: ‘You may have noticed ahead of us now in our direct path is a colossal iceberg, but don’t worry nothing will throw me from my path. We will keep steaming straight ahead.’”

Kelsey-Fry said that the prosecution hadn’t given any proof that Barclays didn’t generate business from the ASAs, something which may have supported the notion that they were fake.

“Have you seen the bottom line?” Kelsey-Fry said, removing his reading glasses and locking the jury in his gaze. “Have you seen it? It might be $2 billion during this ASA. And we don’t know. I bet you would know something else though. If Barclays didn’t make any money I bet you’d know that.”

[seewhatimean] 07/2/2020 10:45

What a fantasist you truly are.

[portside1] 07/2/2020 10:40

In spoons packed out

[portside1] 07/2/2020 08:39

Mc liar proved that he was a complete fraud ,And if Staley does not give out good news he must be sacked

[johnwise] 07/2/2020 08:19

After China truce, Trump's next spat could be with... Switzerland?

Switzerland is in danger of being labelled a currency manipulator. US Treasury officials put it back onto a shortlist for that designation last month, citing its high capital-account surplus and bilateral trade balance.

[diku] 07/2/2020 08:01

Employing someone with all the experience is also no guarantee...one can see the performance of companies within the Plc casino markets...

[johnwise] 07/2/2020 00:28

"The first woman to run John Lewis, she is responsible for 80,000 employees and a company with a turnover of 11.7 billion, but takes over without any formal retail experience." - Maybe, just maybe it would be a life-saving act to employ someone as the chief with an excellent record in retail. Even if you have to import someone. Hiring someone with no experience of retailing but who ticks PC boxes is foolhardy. Once an organisation goes PC, its next step is usually to go out of business."

[johnwise] 06/2/2020 21:45

President Trump makes a statement on his Senate impeachment acquittal highlighting important people on his team.

VIDEO

Trump gives victory speech: impeachment was a disgrace

[double down] 06/2/2020 20:36

Slow grind up will continue, 190p+ after results and 200p+ this year - Trump will keep this global credit party going Dow 30k will happen.

[portside1] 06/2/2020 14:49

Now off to the pub have a good day all

[jordaggy] 06/2/2020 14:31

Your Mum was a breeder potty!

[johnwise] 06/2/2020 14:20

The big concern here is of course that forcing your half-baked ideology on others is becoming normalized. It's totalitarianism dressed up as 'saving the planet'.


University of Edinburgh students vote to ban beef to help save the planet after agricultural students are told to leave meeting

[johnwise] 06/2/2020 14:20

The big concern here is of course that forcing your half-baked ideology on others is becoming normalized. It's totalitarianism dressed up as 'saving the planet'.


University of Edinburgh students vote to ban beef to help save the planet after agricultural students are told to leave meeting




VIDEO: IS GLOBAL WARMING A SCAM?

[clond] 06/2/2020 10:59

Porty will be venting the same old stuff and we will all be waiting once again for the magical £2