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World - Barclays first-half net profit soars 68% amid restructuring


Britain`s scandal-hit Barclays bank posted a 68-percent jump in first-half net profits on Wednesday, as it pushed ahead with a major restructuring that will shrink its investment bank division. Earnings after taxation surged to £1.13 billion ($1.9 billion, 1.4 billion euros) in the six months to June, from £671 million a year earlier, Barclays said in a results statement. Barclays, which has been plagued by a series of scandals in recent years, added that it was buoyed by its personal and corporate banking and its credit card unit, amid a major group-wide restructuring. Adjusted pre-tax profits however sank seven percent to £3.349 billion in the first half, hit by a 46-percent slump at its investment banking operations.


Wednesday, July 30, 2014  09:38

Yahoo

World - Barclays says first-half net profit soars to £1.13 bn


Britain`s scandal-hit Barclays bank posted a 68-percent jump in first-half net profits on Wednesday, as it pushed ahead with a major restructuring that will shrink its investment bank division. Earnings after taxation surged to £1.13 billion ($1.9 billion, 1.4 billion euros) in the six months to June, from £671 million a year earlier, Barclays said in a results statement. Barclays, which has been plagued by a series of scandals in recent years, added that it was buoyed by its personal and corporate banking and its credit card unit, amid a major group-wide restructuring. Adjusted pre-tax profits however sank seven percent to £3.349 billion in the first half, hit by a 46-percent slump at its investment banking operations.


Wednesday, July 30, 2014  08:58

Yahoo

World - Lloyds bank fined £218m over Libor rigging


Britain`s Lloyds Banking Group is to pay £218 million ($370 million, 276 million euros) in fines to British and US regulators for attempting to rig inter-bank lending rates, the bank said Monday. `LBG announces that it has reached settlements totalling £218 million to resolve with UK and US federal authorities legacy issues regarding the manipulation several years ago of group companies` submissions to the British Bankers` Association (BBA) London Interbank Offered Rate (LIBOR) and Sterling Repo Rate,` it said in a brief statement. The Libor scandal erupted two years ago when British bank Barclays was fined £290 million by British and US regulators for attempted manipulation of Libor and Euribor interbank rates between 2005 and 2009.


Monday, July 28, 2014  14:33

Yahoo

World - Pop star Tulisa guilty of assaulting celebrity blogger


Singer Tulisa Contostavlos has been found guilty of assaulting a celebrity blogger at a music festival. The former X-Factor judge, 26, was convicted on Friday of hitting Savvas Morgan during a dispute at the V Festival in Chelmsford, Essex. Contostavlos was ordered to pay a £200 fine and £100 compensation to Mr Morgan, as well as £2,700 in prosecution costs. Earlier this week, a separate trial involving Contostavlos collapsed when the judge said there were `strong grounds` to believe that undercover reporter Mazher Mahmood, known as the `Fake Sheikh`, had lied during a pre-trial hearing.


Friday, July 25, 2014  17:27

Yahoo

World - EasyJet forecasts jump in annual profit despite unrest


No-frills airline EasyJet on Thursday forecast a jump in annual profits as higher passenger numbers and revenues offset disruptions caused by unrest in Israel, Russia and Egypt. Easyjet expects to grow pre-tax profit to between £545 million and £570 million in the year to the end of September, the carrier said in a trading statement. The range given for the latest financial year includes `the impact from the situations in Israel, Egypt and Moscow` and assumes `no further significant disruption`, Easyjet said.


Thursday, July 24, 2014  08:42

Yahoo

World - Barclays says first-half net profit soars to £1.13bn


London (AFP) - Barclays said Wednesday that first-half net profits surged 68 percent, despite a poor performance at its investment banking division.


Wednesday, July 30, 2014  07:52

Yahoo

World - London mulls pollution charge on diesel vehicles


London may introduce a charge on polluting diesel vehicles that enter the centre of the British capital, in a bid to meet EU rules, mayor Boris Johnson said on Tuesday. The fee would be on the lines of the `congestion charge` for all vehicles entering central London, which is currently £11.50 a day ($19.50, 14.50 euros), a spokesman said. The plan is part of a new Brussels-compliant Ultra Low Emission Zone (ULEZ) being introduced in London from 2020, which Conservative Johnson announced last year. `We`ve got a big air quality problem in London, like many other big cities around the world, we`ve got people dying prematurely, we`re in breach of European guidelines.`


Tuesday, July 29, 2014  16:25

Yahoo

World - London`s famed `Gherkin` on sale for £650 mn


London`s landmark `Gherkin` office tower, one of the landmarks on the British capital`s skyline, went on sale for about £650 million ($1.1 billion, 820 million euros) on Tuesday after being placed into receivership. Property firms Savills and Deloitte Real Estate were jointly instructed to sell the 41-storey block in the city`s financial district. The building looks like a glass gherkin, rising out of the City of London financial district. This was after lenders to the current owners -- German property firm IVG Immobilien -- became frustrated at its attempts to restructure debt.


Tuesday, July 29, 2014  13:08

Yahoo

World - Richard III`s makeshift grave opens to public


The grave of King Richard III, immortalised by Shakespeare as one of history`s great villains, was opened up to the public on Saturday in central England. The remains of the infamous ruler were found in 2012 under a car park in the city of Leicester. Around a hundred visitors were on hand to watch city mayor Peter Soulsby cut the ribbon on the £4 million ($6.8 million, 5 million euro) new visitor centre at the discovery site. Early arrivals at the building, in an abandoned school close to Richard`s grave, were able to examine a replica of his skeleton made using a 3D printer.


Saturday, July 26, 2014  14:17

Yahoo

World - London shares slide on weak German confidence data


London`s leading share index slipped on Friday as a fall in German business confidence overshadowed positive British growth data, dealers said. The benchmark FTSE 100 index slipped 0.44 percent to 6,791.55 points, while in Paris the CAC 40 dropped 1.82 percent at 4,330.55. The crises in Ukraine and the Middle East are eroding business confidence in Germany, which could in turn derail European recovery. Back on the trading floors, Royal Bank of Scotland was the star performer after the lender saw its share price soar 10.77 percent after it announced net profits almost tripled to £1.425 billion in the six months to the end of June.


Friday, July 25, 2014  18:08

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