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Barclays shareholders are used to the share price plunging on results day, but Tuesday's 10% fall by noon was a lot worse than usual. The main shock of the first results since Jes Staley took over as chief executive in December was a 54% cut in the dividend for 2016 and 2017. -
Reports that Barclays will exit its African operations, known locally as Absa, have left emerging market bond and loan bankers puzzling what future the firm has in the region — historically one of its strengths within CEEMEA — but it is thought it will leave the UK firm better capitalised.
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Torsten Elling will not be returning to Barclays, having been on paternity leave since June last year, The Cover understands.
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Torsten Elling will not be returning to Barclays, having been on paternity leave since June last year, GlobalCapital understands.
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Last year was not kind to Standard Chartered, a bank known for its emerging markets, commodities-focused business model and in the teeth of a brutal restructuring. The bank reported a full year loss of $1.5bn on Tuesday, after swallowing $1.8bn of restructuring charges.
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Royal Bank of Canada reported a C$24m year-on-year decrease in profits from its capital markets division on Wednesday, as debt origination declined and the bank increased provisions against its oil and gas exposure.
