Barclays: meet the new boss | Editorial

Antony Jenkins is a refreshingly boring banker, but his appointment cannot draw a line under the bank’s troubles It’s easy to see what the choice of a new head of Barclays is supposed to signal. Antony Jenkins is a refreshingly boring banker; a surprisingly welcome breath of muggy air after all the turbulence at the […]


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MPs tell Barclays to stop fundraising for Mitt Romney

Bank at centre of Libor-setting scandal says it is non-partisan and donations are made by employees in a personal capacity Barclays has privately distanced itself from its bankers’ donations to Mitt Romney, the US Republican presidential candidate, after its executives were accused in parliament of fundraising for political candidates instead of working to rebuild the […]


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Bob Diamond: five more things we will learn

The Treasury select committee is set for interesting testimony from Paul Tucker and Marcus Agius 1. Paul Tucker’s testimony will be more interesting. The biggest decision Bob Diamond has to make in the next few weeks is whether to accept the £22m or so that the board (probably) will offer him as a pay-off. Tucker, […]


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Barclays crisis: MPs call for Leveson-style inquiry

Political mood towards banks turns increasingly hostile as George Osborne blames Labour for regulatory failures MPs were drawing parallels between the apparent collapse in ethical values at Barclays and the controversy that has engulfed News International, with some suggesting there may need to be a Leveson-style public inquiry into the bank’s attempts to manipulate the […]


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Government meets borrowing target

Public sector net borrowing, excluding effect of banking bailouts, rose to £18.17bn last month, from £17.95bn a year ago The British government borrowed more than expected last month, but still managed to meet its target for the financial year. City economists said the high March shortfall highlighted the pressure on the chancellor to stick to […]


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Government meets borrowing target for year

Public sector net borrowing, excluding effect of banking bailouts, rose to £18.17bn last month, from £17.95bn a year ago The British government borrowed more than expected last month, but still managed to meet its target for the financial year. City economists said the high March shortfall highlighted the pressure on the chancellor to stick to […]


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Barclays chief Bob Diamond links part of bonus to improved performance

Chief executive attempts to head off shareholder rebellion over £17m pay package at next week’s annual meeting Barclays scrambled to head off a damaging revolt over the £17m pay package of its chief executive Bob Diamond on Thurdsay by changing the terms of last year’s bonus just eight days before a crucial shareholder vote. In […]


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Barclays’ bonuses are out of whack with shareholder returns

If Barclays’ targets are to be meaningful, shouldn’t the failure to meet them be reflected in Bob Diamond’s bonus? Would a boss who describes his firm’s financial returns as “unacceptable” then accept a bonus? In the case of Bob Diamond, we’ll have to wait to find out. The Barclays chief executive is refusing to talk […]


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Barclays caps bonuses at £65,000 but investors say it’s ‘business as usual’

• Association of British Insurers attacks bonus levels• Annual bonuses for top executives down 48% on 2010• Profits fall 3% to £5.9bn• Bob Diamond’s bonus could be £900,000• Return on equity down to 6.6% for 2011• BarCap revenue and profits down Barclays was on a collision course with its shareholders on Friday despite the bank’s […]


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