Barclays

Barclays PLC is a global financial services company that provides various financial products and services worldwide. It is engaged in retail banking, credit cards, corporate and investment banking, and wealth management with an extensive international presence in Europe, the Americas, Africa, and Asia. The company offers current accounts, savings products, Woolwich-branded mortgages, unsecured loans, general insurance, and banking and money transmission services to small- and medium-sized businesses; investment and insurance products; business lending services; bank assurance solutions; and retail, credit and debit card, and corporate services. It also offers international payments services for consumer and business customers, including credit cards and consumer lending services; investment banking services comprising strategic advisory, financing, and risk management services to large corporate, government, and institutional clients; integrated corporate banking solutions, including cash management, lending, and trade financing services to corporate and financial institutions as well as multinationals; and a range of wealth and investment management services such as international and private banking, investment management, fiduciary, and brokerage services. With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs more than 147,500 people. Barclays moves, lends, invests, and protects money of more than 48 million customers and clients worldwide. The company was formerly known as Barclays Bank Limited and changed its name to Barclays PLC in January 1985. It was founded in 1896 and is headquartered in London, United Kingdom.

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Barclays Plc operates as a bank holding company, which engages in the provision of retail banking, credit cards, corporate and investment banking, and wealth management services. The firm operates through Barclays UK and Barclays International segments. The Barclays UK segment consists the U.K. retail banking operations, U.K. consumer credit card business, U.K. wealth management business and corporate banking for smaller businesses. The Barclays International segment includes corporate banking franchise, the investment bank, the U.S. and international cards business and international wealth management. Barclays was founded on 1690 and is headquartered in London, the United Kingdom.

Barclays said it would return at least $12.6 billion to shareholders through 2026 as it announced a cost-cutting drive and plans to reorganize its business into five operating divisions.

Barclays Announces Strategic Overhaul, Plans to Boost Returns

Barclays on Tuesday outlined plans to restructure its business with a view to cutting its costs by £2 billion over the next two years and boosting its returns to shareholders, with a view to paying out £10 billion in share buybacks and dividends between now and 2026.

Barclays vows to cut costs by £2 billion and return £10 billion to shareholders

New cost-cutting measures at Barclays PLC (LSE:BARC), aimed at delivering annual savings of £2bn, could result in 17,000 job losses. Analysts at research house Third Bridge estimate a 20% reduction in headcount would be required to achieve the figure being touted.

Barclays cost cutting could see 17,000 jobs go

Barclays PLC (LSE:BARC) has unveiled a corporate overhaul, £2bn of cost cuts and a £10bn capital return as it looks to enliven the company's sluggish operational and financial performance as part of a new three-year plan. According to chief executive CS Venkatakrishnan, the initiatives are also aimed at "driving higher returns, and predictable, attractive shareholder distributions".

Barclays takes the scalpel to costs; boosts returns to £10bn as unveils three-year plan

Barclays on Tuesday reported a fourth-quarter net loss of £111 million ($139.8 million) as the British lender delivered its first major strategy update since 2016.

Barclays posts fourth-quarter net loss, announces £1 billion share buyback

Barclays reported its annual profit fell 6%, in line with expectations, as Chief Executive C.S. Venkatakrishnan set out plans including cost cuts, a management overhaul and asset disposals to improve the bank's performance and lift its share price.

Barclays annual profit falls 6%, unveils overhaul to boost shares

United Kingdom-based banking conglomerate Barclays PLC (BCS) reported their full financial results this morning, before markets opened on the London Stock Exchange. The company reported a pre-tax profit that was lower than its Q4 and full-year counterpart in 2022, one year ago.

Barclays announces subdued financial results for 2023 year

Barclays PLC (LSE:BARC) (Barclays PLC (LSE:BARC)) results tomorrow will be accompanied by a strategic review of the business and the results might not be pretty. Hargreaves believes there will be a focus on cost reduction rather than material business changes, especially in the UK which sits well above peers on a cost-to-income basis.

Barclays set to unveil hefty cash payout alongside big restructuring, say reports

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The FTSE 100 index jumped by more than 1.50% on Friday after the UK published encouraging retail sales numbers. That report came a day after the latest UK GDP report showed that the economy contracted in the fourth quarter.

FTSE 100 shares in focus: miners, HSBC, Lloyds, IHG, Rolls-Royce, Barclays

Barclays (BCS) is eyeing to buy Societe Generale's U.K. private bank in an effort to expand its business.

Barclays (BCS) Considers Bidding for SocGen's UK Private Bank

KINGSPORT, Tenn.--(BUSINESS WIRE)--Mark Costa, Eastman's Board Chair and Chief Executive Officer, will address the Barclays Industrial Select Conference on February 22, 2024.

Eastman CEO Mark Costa to address the Barclays Industrial Select Conference

Barclays is said to be mulling the acquisition of SocGen's UK private bank, Kleinwort Hambros.  SocGen has initiated an auction process for its Kleinwort Hambros unit, as per Reuters sources.

Barclays contemplating SocGen UK private bank takeover

Barclays (LON: BARC) share price has struggled like other British banks in the past few weeks. It has slipped by almost 10 percent from its YTD high, entering a correction zone.

Barclays share price is being shredded: will acquisitions help?

Barclays is in the early stages of considering a bid for Societe Generale's UK private bank, in an effort to expand its business targeting wealthy individuals, three people familiar with the matter told Reuters.

Barclays eyes SocGen's UK private bank, sources say

A Barclays vice president is suing the British bank for about 230,000 pounds ($289,616.00), alleging she was passed over for promotion because of racial, religious and sex discrimination.

Barclays VP sues for $290,000, alleging discrimination

Barclays (BCS) announces a deal to acquire Tesco's retail banking business. This will likely bolster the company's market share in the U.K.

Barclays (BCS) to Acquire Tesco's Retail Banking Business

Barclays (BCS) faces challenges with volatility in revenue generation amid the economic slowdown, while business restructuring initiatives continue to support financials.

Barclays' (BCS) Restructuring Aids Amid Revenue Volatility

Tesco PLC

Barclays has entered into an agreement to acquire Tesco's retail banking business, including its credit cards, unsecured personal loans, deposits and operating infrastructure. The acquisition of Tesco Bank will be carried out by Barclays UK, the companies said in a Friday (Feb. 9) press release.

Barclays to Acquire Tesco Bank, Partner With Tesco Stores

Barclays PLC (LSE:BARC) has committed to ending financing for new oil and gas projects and said it will reign in spending on firms involved in expanding fossil fuel production. New finance for upstream oil and gas projects and related infrastructure will cease immediately, Barclays said in a statement on Friday.

Barclays to quit funding new oil and gas

Barclays has agreed to buy Tesco's retail banking branch for a consideration of around $760 million.

Barclays Acquires Tesco's Banking Operations

Barclays told Reuters it will stop direct financing of new oil and gas fields and restrict lending more broadly to energy companies expanding fossil fuel production.

Barclays to adopt fresh curbs on oil and gas financing

Tesco PLC (LSE:TSCO) has sold the majority of its banking operations to Barclays PLC (LSE:BARC) for up to £700 million after striking a long-term strategic partnership. Tesco will receive an initial £600 million of proceeds, with a further £100 million net cash after settlement of regulatory capital amounts and after transaction costs.

Tesco to ramp up buyback after striking banking deal with Barclays

Tesco on Friday said it was selling the retailing banking business of Tesco Bank to Barclays for £600 million initially, and then another £100 million after the settlement of certain regulatory capital amounts and after transaction costs.

Barclays to buy retail banking arm of supermarket chain Tesco for £600 million

British supermarket group Tesco said on Friday it would sell its existing Tesco Banking operations to lender Barclays for up to 700 million pounds ($883.26 million).

Tesco to sell banking operations to Barclays for up to 700 mln pounds

Barclays' CEO C.S. Venkatakrishnan is under pressure to deliver a plan this month to win over restless shareholders clamouring for a streamlined business model and higher, more sustainable returns for a fraction of the risk.

News for Barclays Stock (BCS)