Barclays Share Discussion Threads

[johnwise] 22/5/2024 18:49

Rishi Sunak calls general election for JULY 4:

Nigel Farage

[estienne] 22/5/2024 17:46

Well the markets definitely don't rate Barclays under Labour

[johnwise] 22/5/2024 15:54

GSK: Zantac settlement could reach $2bn, says investment bank


GSK PLC (LSE:GSK, NYSE:GSK) may face a settlement of up to $2 billion to resolve thousands of lawsuits related to Zantac, a heartburn medication linked to cancer, according to an estimate from the investment banking arm of Barclays.

Zantac was pulled from the market in 2019 after the US Food and Drug Administration (FDA) found it contained N-nitrosodimethylamine (NDMA), a probable carcinogen. This discovery led to numerous lawsuits from patients who alleged that they developed cancer after using the drug.

The potential figure for GSK is informed by recent settlements by other pharmaceutical companies, notably Pfizer.

According to the Financial Times, Pfizer recently settled more than 10,000 US Zantac cases for up to $250 million, which sets a benchmark of approximately $25,000 per case. This figure has influenced Barclays' estimate of GSK's potential settlement costs.

[johnwise] 22/5/2024 15:51

Citi fined £61.6m by UK regulators for “failures in its trading systems and controls”


Citigroup Global Markets Limited (CGML) has been fined £61.6 million by UK regulators for historic failings in its trading systems and controls.

The total penalty consists of a £33,880,000 fine from the Prudential Regulation Authority (PRA) and a £27,766,200 fine from the Financial Conduct Authority (FCA).
Relating to an incident from 2022, the FCA says failures in the firm’s systems and controls “led to $1.4bn of equities being sold in European markets when they should not have been”.

It says on 2 May 2022, a CGML trader sought to sell a basket of equities worth $58 million. When entering the basket into an order management system, the trader erroneously created an order worth $444 billion, over 760,000% of the original intended value.

Fortunately, CGML’s controls blocked $255 billion of this order from progressing, but $189 billion was sent through to a trading algorithm “designed to place portions of this total order to be sold in the market over the rest of the day”.

The FCA says: “In total, $1.4bn of equities were sold across European exchanges, before the trader cancelled the order. This coincided with a material short-term drop in some European indices which lasted a few minutes.”

[johnwise] 22/5/2024 14:46

Prime Minister's Questions (PMQs) - 22 May 2024

[stonedyou] 22/5/2024 13:01

New BRICS members fitting in seamlessly — senior Russian diplomat

According to Sergey Ryabkov, the BRICS culture is about not getting bogged down in differences between member states, but moving forward in a positive direction

MOSCOW, May 22. /TASS/. New BRICS member states are fitting in seamlessly into the organization, jumping into work with enthusiasm, Russian Deputy Foreign Minister Sergey Ryabkov has said.

"The countries that have joined the association express great enthusiasm and high interest. Their aim is to get results; there is no feeling that they are causing any additional difficulties within the association," he said.

According to the diplomat, the BRICS culture is about not getting bogged down in differences between member states, but moving forward in a positive direction.

"We will call on all potential members to put aside their problems, differences and concerns regarding the behavior of any other member of the association. This is not easy, but our experience shows that it is possible," the deputy minister concluded.

The BRICS group has seen two waves of expansion since its emergence in 2006. In 2011, South Africa joined the original membership, which included Brazil, Russia, India and China. In August 2023, six new members, including Argentina, were invited to join the association. Buenos Aires changed its mind in late December last year.

Five newcomers — Egypt, Iran, the United Arab Emirates, Saudi Arabia and Ethiopia began full-fledged work in BRICS on January 1, 2024.

[stonedyou] 22/5/2024 12:43

When the Rubber Hits the Road - the Scorching Pm Sector Rally Ahead - updated...

May 22, 2024

Clive Maund


The PM sector did exactly as predicted in the article WHEN THE RUBBER HITS THE ROAD - THE SCORCHING PM SECTOR RALLY AHEAD posted on the site about a week ago with breakouts by metals and stocks last week from Flag / Pennant consolidation patterns into powerful uplegs. The purpose of this update is to appraise you of the fact that THE REALLY BIG ACTION HASN’T EVEN STARTED YET, but it will soon and we will proceed to see exactly why in this update.

Let’s start by reviewing what happened. Our first chart is the 6-month chart for gold and it’s interesting to see that while silver and PM stocks raced ahead last week, gold’s new upleg has barely gotten started and it has yet to break above the resistance at its early April highs – it will though and when it does it is expected to soar towards the upper rail of the uptrend channel shown and that implies further strong gains by silver and PM stocks in the days and weeks ahead.

Silver, however, showed no such hesistancy and broke out of its bull Flag and raced ahead, clearing the important psychological $30 barrier almost as if wasn’t there and as we can see on its 6-month chart it looks set for further gains as it has a ways to go before it reaches the upper rail of its uptrend channel. We correctly anticiated this development and bought a raft of 6 SILVER STOCKS POISED TO ADVANCE about a week ago, all of which are up, some substantially like Dolly Varden.

This break above $30 by silver was an important technical milestone for as we can see on the 20-year chart it means that it has cleared the important resistance established at this level back in 2020 and 2021 which means it now has its sights set on its 2011 highs at about $50 as its next major objective…
PM stocks meanwhile continued to forge ahead, especially on Friday, building on the breakout from the bull Pennant of 9th May as we can see on the 6-month chart for sector proxy GDX which shows that they have plenty more upside before they arrive at the upper rail of their uptrend channel…

The 5-year chart makes clear the reason for the claim at the start of this article that THE REALLY BIG ACTION HASN’T EVEN STARTED YET which is that, despite the gains so far, GDX is still some way from breaking out of the giant Head-and-Shoulders continuation pattern shown on this chart. The real action will start once GDX breaks above not just the neckline of the H&S pattern (the red line) but above the band of resistance that marks the upper boundary of the entire pattern and dates back to the 2020 highs. Sentiment indicators continue to show that there is still little interest in the sector and a lot of skepticism, which is of course very bullish. This will change and change fast once GDX breaks above the key resistance with a lot of investors coming down off the fence and piling in, driving a robust rally…

[johnwise] 22/5/2024 10:29

Wind Mill power -

"prolonged power cuts"

Retailers warn families against pandemic-like panic buying as ministers reveal the emergency survival kit needed to prepare for floods, cyber attacks and prolonged power cuts

Last year, Mr Dowden said people should stock up on 'analogue capabilities', such as candles, torches and wind-up radios, to boost their 'personal resilience'.

Today, he will go further by encouraging people to stock up with enough food and water to survive for three days without leaving their homes.

[johnwise] 22/5/2024 09:26

You Import the Third World..You Become the Third World

VIDEO
BREAKING: Chaos On Dublin Streets After Today's ATTACK

[johnwise] 22/5/2024 09:15

Inflation plunges but BoE won't cut interest rates in June "and it's YOUR fault"


Today's inflation drop was brilliant news, but not brilliant enough to persuade the Bank of England to cut interest rates in June as millions desperately hoped.

The second is services inflation, which is even higher at 5.9 percent.

The MPC fears a rate cut will fan the dying inflationary embers and drive wages back up.

It's been grumbling for ages that we're getting paid too much, despite earnings stagnating since 2008. The BoE's chief economist Huw Pill has ordered us to accept we're poorer and stop asking for higher wages. Which is easy to say when you earn £190,000 a year.

So if you're wondering why your mortgage won't fall, it's because you're getting paid too much. According to the BoE's warped mindset, that is.

[johnwise] 22/5/2024 09:03

Housing Crisis

VIDEO

Migration to Ireland has boomed in recent years. Figures show that in the year up to April 2023, the number of immigrants to Ireland was more than 140,000, a 16-year high.

Immigrants are RUINING This Country…

[stonedyou] 22/5/2024 08:30

IN VIDEO: FIRST FOOTAGE SHOWS UPGRADED UKRAINIAN UNMANNED BOATS FIRING MISSILES

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New video from Ukraine showed the first recorder deployment of upgraded unmanned boats equipped with unguided missiles by the Armed Forces of Ukraine. According to the reports, the Ukrainian military attempted to launch strikes on Russian military positions in the area of the Kinbursky Spit in the Kherson region; but the missiles were intercepted by Russian forces.

The Ukrainian military supported by NATO countries is working hard to upgrade its unmanned boats that have already inflicted significant damage to the Russian Black Sea Fleet.

Ukrainian unmanned boats with anti-aircraft missiles were used for the recent attacks on the western coast of the Crimean peninsula. However, the drones likely had no chance to use the missiles, since all the recent attacks were repelled and Ukrainian boats were destroyed by Russian helicopters that suffered no damage. LINK

Ukrainian missiles deployed on the unmanned boats are not that powerful to inflict heavy damage to the Russian military deployed on the coast. However, taking into account the unwillingness of the Russian military command to protect and build the necessary fortifications on strategically important facilities, like military airfields in Crimea, a massive attack of unmanned boats with missiles could damage expensive aircraft, vessels or any military facilities, if missed by Russian air defense forces.



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[johnwise] 22/5/2024 07:36

Marks and Spencer Group PLC Final Results (MKS)

Full Year Results for 52 Weeks Ended 30 March 2024

"THE BEGINNINGS OF A NEW M&S"

[johnwise] 22/5/2024 06:22

'I'm sick of this!' Nigel Farage blasts Rishi Sunak's dishonesty on migration


Nigel Farage insisted the Prime Minister is "terrified" of crunch migration figures set to be released on Thursday.

“Whether they're as high as the 700,000 last year, we don't know, but I'll tell you what they won't be the tens of thousands promised in successive Conservative manifestos.

“I'm sick of this. I'm sick not just at the numbers. I'm sick not just of the change that it’s putting on our country. I'm sick actually above all of the sheer dishonesty of the way that Sunak tries to spin numbers.

“I really have just about had enough of this. The numbers are not down, Prime Minister.”

[johnwise] 22/5/2024 05:54

VIDEO

In yet another display of the complete moral depravity inside the United Nations, the UN Security Council publically mourns the death of Iran’s tyrannical President Ebrahim Raisi. Even the UN flag outside the building was lowered to half mast in his honor. Meanwhile, the IDF killed a Hezbollah commander in a drone strike in Southern Lebanon. Also, what’s the latest with the ICC’s absurd arrest warrant request for Israeli Prime Minister Benjamin Netanyahu?

UN Security Council MOURNS Iran’s Raisi; Israel KILLS Hezbollah Commander

[stonedyou] 21/5/2024 20:54

N VIDEO: RUSSIAN AEROSPACE FORCES DESTROY UKRAINIAN RADAR IN SUMY REGION

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New footage from Ukrainian frontlines was shared by Russian military sources. Russian reconnaissance coordinated the strike and filmed the successful destruction of Ukrainian radar in the rear Sumy region.

The strike took place near the village of Butsikovo located on the western outskirts of the city of Sumy. As a result of the precision strikes of the Russian Aerospace Forces, the ST-68 radar station was destroyed.

The radar was reportedly destroyed by Kh-35U missile launched by Russian Su-34 strike aircraft.

The Soviet-made ST-68 radar station is aimed to detect and track low-altitude targets covered by active and passive jamming. Developed in 1968, it has an increased detection range of low-altitude targets and very high accuracy in determining azimuth coordinates.

Russian aircraft are actively destroying Ukrainian air defense throughout the country. The special attention is paid to the eastern regions, where heavy battles are ongoing on the frontlines. Russian massive strikes in the Sumy region support the ongoing Russian offensive in the northern Donbass and Kharkiv directions. At the same time, the Ukrainian military is concerned about the accumulation of large Russian forces near the northeastern border, including the Sumy region. The Armed Forces of Ukraine should be ready for a possible Russian offensive in this direction. The ongoing strikes may be the first stage of preparation for the possible ground operations across the border. As a result, the Ukrainian military command is forced to keep large forces in the border Sumy region, while Ukrainian defense is creaking at the seams in all directions in the Donbass.



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[johnwise] 21/5/2024 18:55

Net-Zero Comes With Insane $215 Trillion Price Tag


he world would need as much as $215 trillion in cumulative investments to achieve a fully decarbonized global energy system by 2050, research provider BloombergNEF (BNEF) said in a report on Tuesday.

This investment would be 19% higher than an estimated $181 trillion price tag in an Economic Transition Scenario (ETS), in which the energy transition is driven by economics and where the Paris Agreement goals are missed and global warming reaches 2.6 degrees Celsius, according to BloombergNEF’s New Energy Outlook 2024.

Investment must accelerate and existing technologies urgently deployed en masse if the world stands a chance of reaching net-zero emissions by 2050, BNEF said.



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