Barclays swings to £1.9bn loss, investment bank profits tumble

Great - except there are still three other headaches.

However, weak market conditions for its corporate and investment bank saw profits in the division tumble to £2.1bn past year from £2.7bn in 2016.

Banking giant Barclays has posted a 10 per cent rise in annual profits, but this was lower than expected after its investment bank saw earnings dive 22 per cent. The bank also separately disclosed Thursday, its discretionary awards for investment bankers and traders fell slightly to 864 million pounds.

Barclays shares rose 4% to 210.6p in early trading on Thursday. Investec analysts reckon Barclays' tangible equity will be worth 278 pence per share in 2019, meaning a 9.4% return on tangible equity.

This more than offset the 2% decline in total income 2% to £21.1bn from reduced inflow at Barclays International and the head office, while impairments were broadly stable at £2.3bn.

More news: Uber to introduce service across Japan by around 2020: CEO

So, would a continuation of rising revenue in the U.S. cards business and the United Kingdom retail bank.

He also noted Barclays grew its mortgage portfolio and saw total credit impairment charges and other provisions down 13%, but that trading revenues at the CIB suffered a poor fourth quarter like all the big banks, though it looked as though Barclays did a bit better than its United States peers.

Barclays is fighting the Department of Justice (DOJ) in the United States courts in relation to the sale of mortgage-backed securities from 2005 to 2007.

The U.K. Financial Conduct Authority opened an investigation in 2017 looking at Staley's alleged attempt to find out the name of the employee that wrote a letter raising concerns about the recruitment of a senior official by the bank. But until Barclays' traders can deliver over a longer period and outstanding legal issues are resolved, the lender's discount to tangible book value will persist.

(Copyright © 2015. All Rights Reserved.)
 
Recommended

Suarez and Alba strikes give Barca win at stubborn Eibar
A second yellow card for Fabian Orellana in the 66th minute disrupted the rhythm and manager Jose Luis Mendilibar lost his temper. Atleti have grabbed 52 points from 23 games and are undefeated at the Wanda Metropolitano in La Liga this season.

Suns' Devin Booker walks off with 3-point title
The final ball of each one was a "money ball" worth two points, and one of the racks, usually the last one, was all money balls. Larry Nance Jr . has already thrown down a few jams as a Cavaliers [VIDEO ] after destroying rims all season in Los Angeles .

Why Everything Is Different For This Year's NBA All-Star Game
First things first, the players are ranked on how good they are right now - this isn't a list about who has the most potential. Bieber is no stranger to the All-Star Weekend, having won the MVP award in the 2011 celebrity game.

Trump conspired to keep affair with Playboy model secret
In his report, Mr Farrow suggests that the publisher of the Enquirer, David Pecker , is a "personal friend" of Mr Trump's . McDougal also said that Trump offered her money after their first sexual encounter, an offer that she declined.

Iran deepens freight discount to boost oil sales to India
Foreign ministry official Mittal added that both sides had spoken of making the energy partnership a more "comprehensive" one. India and Iran are now engaged in trying to reach an agreement over India developing Iran's Farzad-B gas field.

John-Henry Krueger wins silver in 1000-meter short-track speedskating
Fellow Canadians Jane Channell (3:29.07) and Mirela Rahneva (3:29.52) finished 10th and 12th, respectively. Noreau actually beat goalie Pavel Francouz with Canada's final shot but the puck bounced off the goalpost.

Conservative users say Twitter removing thousands of followers
Some fake accounts have been traced to Russian-backed agents that the USA government says are working to sow political discord. Researchers say as many as 15 per cent of users could be fake, a number Twitter says is much lower.

Apple Releases Fix for Indian Telugu Character Crash Bug
Unfortunately it wasn't the first time Apple's software has proved to be susceptible to an odd message. The only safe operating system seems to be iOS 11.3, which is only publicly available in beta form.

Russia says Syrian ceasefire monitoring centre hit in shelling
Eastern Ghouta, a suburb of Damascus , is controlled by government opposition forces and has been under siege since 2013. Injured children are treated at a hospital in rebel-held Douma, Eastern Ghouta , Syria , on February 19.

Xiaomi Redmi Note 5 Hands-on
Xiaomi has also developed PatchWall , an operating system for smart televisions to connect to set-top boxes of multiple kinds. Positive overall, but suggested Note 4 users to consider an upgrade to the Pro and not the Note 4 (Dont go for the Note 5).

Pearl High School student arrested over bogus threat
The student was detained and charged with making a terroristic threat, the Fort Bend County, Texas, Sheriff's Office said. Four threats had been reported in the county since the weekend, two of those were proven to be unfounded.

Injury-time equaliser earns Rochdale a Wembley replay with Spurs
Swansea and Sheffield Wednesday being forced to play out a replay that neither side wants in front of a sparse crowd is not. Up against the odds with seconds to go and they managed to grab a memorable draw against a Premier League heavyweight.

Slashing alcohol intake 'could curb your risk by up to a third'
According to the findings, alcohol use disorders were also associated with all other independent risk factors for dementia onset. Alcohol is now the sixth most common cause of disability among people in their 50s and 60s, up from 16th in 1990.

Florida shooting 'the type of case the death penalty was designed for'
Rubio, who once served as Florida's House speaker, told Miami CBS affiliate WFOR that it's an "example of a state law" that could have helped prevent the Florida shooting.

New Redistricting Map in Hands State Supreme Court
House and Senate Republicans worked largely with existing staff members who have previous Pennsylvania mapping experience. However, most districts across the state are not affected by these rulings and will continue to use the 2017 map.


More News

News
More News