Barclays

With banks’ new labor-friendly rules, they may soon be gone. Read more »

  • 06 Dec 2013 at 2:06 PM

Bob Diamond To Have A Little Chat Re: Libor

Former Barclays boss Bob Diamond and other past executives at the British bank are set to be called as witnesses next year in a court case relating to the alleged manipulation of Libor interest rates. Barclays is being sued for up to 70 million pounds ($114 million) by Guardian Care Homes, a UK residential care home operator, which alleges the bank mis-sold it interest rate hedging products that were based on Libor…A UK judge on Friday refused Barclays’ attempts to adjourn the trial, which is due to start in April. [Reuters]

  • 01 Nov 2013 at 5:16 PM

Suspension Watch ’13: Barclays, UBS

A whole bunch of currency traders have been asked to take 5. Read more »

How Does Barclays Defaulteth? Let Us Count The Ways

In the case of its 2005 derivative agreement with hedge fund Black Diamond Capital Management, it defaulteth in two ways. Read more »

  • 15 Oct 2013 at 2:35 PM
  • Banks

Man Driven To Brink Of Collapse By Bob Diamond’s Mess

Nine months ago, Barclays CEO Antony Jenkins brought in former Financial Services Authority chief Hector Sants to do something about the bank’s less-than-sterling reputation. But Hector Sants could not go back in time and keep Barclays from committing the mistake he knew it was making, and so, nine months in, he needs a good, long break. Read more »

The bank has recently put in place a policy of super-casual Fridays. Jeans, T-shirts, and even sneakers are acceptable on Fridays, according to people who work for the bank (and spoke on the condition of anonymity because banks keep everything top secret, even stuff like the rules of permissible footwear). The idea, apparently, is to make Barclays a better, cooler place to work. It’s one of a number of initiatives the company is taking to make employees enjoy their workplace more…A spokesperson for Barclays declined to comment about the policy or about what she was wearing as CNBC.com spoke to her. [CNBC]

Bob Diamond, who was ousted last year as the boss of British bank Barclays Plc, said it has grown stronger since he left and he plans to buy shares in its 6 billion-pound ($9.6 billion) rights issue. “I’m buying my rights, I’m bullish on Barclays … Barclays has become a better and stronger institution,” Diamond said on CNBC television on Friday. “It’s got good strong new leadership in (Chief Executive) Antony Jenkins and (Chairman) Sir David Walker.” [Reuters]