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News Breaks | | | | February 12, 2013 | | 05:38 EDT |  | BCS | Barclays to reduce headcount by at least 3,700 in 2013
Barclays announced that based on the results of its strategic review, it is making several commitments. Barclays seeks to: Deliver a return on equity for the Group in excess of the Group cost of equity in 2015, which the bank assumed will remain at the current 11.5% level; In 2013, reduce headcount by at least 3,700 across the Group, including 1,800 in the Corporate & Investment Bank and 1,900 in Europe Retail and Business Banking. This is expected to result in a restructuring charge of close to GBP 500M in Q1; Reduce the Group’s total cost base by GBP 1.7B to GBP 16.8B in 2015; Target Risk Weighted Assets of GBP 440B by the end of 2015; Report a transitional Common Equity Tier 1 ratio above its target ratio of 10.5% in 2015; and From 2014, accelerate its dividend policy, targeting a payout ratio of 30% over time. Barclays added that it sees to provide greater disclosure and transparency around its financial performance. | |
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News For BCS From The Last 14 Days Check below for free stories on BCS the last two weeks. |
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| May 23, 2013 | | 05:48 EDT |  | BCS | Proxy advisers see their power diminish, WSJ reports
 Subscribe for More Information | | | May 20, 2013 | | 07:50 EDT | | BCS | Gulf wealth funds raise private equity investments, Reuters reports
Sovereign wealth funds in the Gulf Arab region are increasing their allocations to private equity investments at a faster rate than other types of investment, U.S. fund manager Invesco said in a new study, reports Reuters. Large sovereign funds have been looking for alternative investments to give better returns than low-yielding staples such as U.S. Treasuries.Reference Link | | | May 16, 2013 | | 12:32 EDT |  | BCS | EU bank stress test delayed until 2014 by regulator
The EBA agreed on recommendations to supervisors to conduct asset quality reviews on major EU banks. While banks’ capital positions were significantly strengthened under the EBA’s recapitalisation exercise, the objective of the asset quality exercises will be to review banks’ classifications and valuations of their assets so to help dispel concerns over the deterioration of asset quality due to macroeconomic conditions in Europe. Since appropriately reviewed balance sheets are a key input to an effective stress test, the EBA has also adjusted the timeline of the next EU-wide stress test so to conduct the exercise in 2014 once the asset quality reviews are completed. However, to ensure transparency and comparability over the years, the EBA will provide, in 2H, appropriate disclosure on the actual exposures of the EU banking sector. Reference Link | | | May 14, 2013 | | 05:44 EDT | | BCS | Banks work deals from both sides of the field, WSJ reports
Subscribe for More Information | | | May 13, 2013 | | 18:06 EDT | | BCS | Barclays gets shareholder lawsuit over Libor thrown out, Reuters says
Subscribe for More Information | | | 06:49 EDT | | BCS | ECB member says negative deposit rates would help economy, Reuters says
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