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Barclays Q1 profit falls 12% as mortgage competition, deals drought hit

LONDON (Reuters) -Barclays reported a 12% fall in first quarter profit on Thursday, as a squeeze on UK mortgage pricing, lower income from trading and a drought of M&A fees showed the difficulties it will face in delivering its first strategic revamp in a decade. The British bank reported pretax profit for the January-March period of 2.3 billion pounds ($2.84 billion), down from 2.6 billion pounds a year ago and narrowly above analysts' forecasts for 2.2 billion. Barclays is bidding to restore investor faith in its universal banking business model, after years of share price underperformance, clashes with activists over the role of its investment bank, and management turnover.

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Barclays appoints Gijs Borghouts as Chief Internal Auditor

Barclays appoints Gijs Borghouts as Chief Internal Auditor
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The British community abandoned by banks – where it costs £240 to visit a branch

Almost two banks close in Britain every day. Since January 2015, 5,934 branches have shut, according to consumer group Which? – at a rate of 54 per month. If the closures continue at the same pace, we will be left bankless within a decade.

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Clash of high direct, indirect taxation strangling economy


Government has to find out why employers are trimming payrolls or can’t sustain existing payrolls. The quandary of taxes is to blame

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Credit Likely to Stay Pricey for Months, Barclays Says

(Bloomberg) -- If history is any guide, investment-grade US corporate bonds can stay at current nosebleed valuations for months more. Most Read from BloombergTrumpism Is Emptying ChurchesIran’s Better, Stealthier Drones Are Remaking Global WarfareBlackstone Nears Buyout of Skin-Care Company L’OccitaneWhy India’s South Rejects Modi — And Why It MattersGermany to Order Ships, Armored Vehicles Worth Up to €7 BillionThat’s the conclusion of Barclays, which said that the present macro environment, an

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India Cements plans to raise up to Rs 750 crore via bonds, Real Estate News, ET RealEstate

The debt, which might be priced north of 15%, will be used to fund working capital and capital expenditure, said two sources aware of the development.

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