Barclays

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Wall St. Groans as Lehman Deal Takes Shape

Divided sale may spark ripple of pain through financial industry

(Newser) - A possible deal to salvage Lehman Brothers took shape today but cast a dark mood over Wall Street, the Wall Street Journal reports. Washington refused to save the ailing bank, sparking a plan for either Barclay's or Bank of America to buy "good" Lehman assets while other banks propped...

Feds, Banks Seek Lehman Deal by Tonight

BofA, Barclays balk at bad assets, but bailout not in the cards

(Newser) - Washington and Wall Street continued talks today aimed at solving the Lehman Brothers crisis as early as tonight, the Wall Street Journal reports. Federal Reserve officials still refuse to approve a bailout like the one that enabled JP Morgan to acquire Bear Stearns this summer—but possible buyers like Bank...

UK Banks 'Milk Borrowers' to Pay for Credit Crunch

Banks hike mortgage payments despite interest rate cuts

(Newser) - Britain's big banks are being accused of hoisting nearly £3 billion in interest payments on customers to make up for bad bank investments, the Daily Mail reports. Seeking to recoup huge losses from assets linked to subprime US mortgages, the banks have hiked mortgage rates and fees despite interest...

Barclays Seeks Liquidity With $8.85B Offering

More than half will be bought by Qatari, Japanese investors

(Newser) - Add Barclays to the ranks of banks that are floating new shares in an effort to restore liquidity in the lingering wake of the subprime debacle, reports the AP. Barclays will offer up $8.85 billion in shares—with large stakes being purchased by Japanese bank Sumitomo Mitsui and the...

Barclays Seeks $7.8B From Sovereign Wealth Funds

UK bank's stock soars as investors support plan to recapitalize

(Newser) - The UK’s fourth-largest bank, Barclays, is looking to raise capital by issuing $7.8 billion in new equity, underwritten by sovereign wealth funds, the London Times reports. The announcement sent shares soaring in trading today. Barclays has been rumored for weeks to be considering a cash infusion, joining a...

SEC Opens ABN Amro Insider Trading Probe

European banks' transactions ahead of merger under scrutiny

(Newser) - The US Securities and Exchange Commission has opened an inquiry into possible insider trading surrounding last year's takeover of Dutch bank ABN Amro. Holland's Financieele Dagblad reports that Fortis, Barclays, Santander, and Royal Bank of Scotland—which eventually won the bidding—have been asked for information about trading in ABN...

Court Rejects $40B Suit from Enron Investors

Plaintiffs claimed banks abetted fraudulent deals

(Newser) - The Supreme Court yesterday turned away an appeal from Enron investors seeking to sue banks that loaned the company money, Bloomberg reports. A lower court ruling had blocked the investors from organizing a $40 billion class-action suit against Merrill Lynch, Credit Suisse and other banks. The investors accused the banks...

Banks Go Dutch on ABN Buy
Banks Go Dutch on ABN Buy
Sep 14, 2007 5:33 AM CDT

Banks Go Dutch on ABN Buy

Royal Bank of Scotland consortium expected to succeed with hostile bid

(Newser) - The race to buy Dutch bank ABN Amro is in the final stage—with a consortium led by the Royal Bank of Scotland apparently on the inside track ahead of  Barclays. The consortium has already won agreement from ABN and the Dutch government, but has yet to raise the $99...

Stricker Strikes It Big at Barclays
Stricker Strikes It Big at Barclays
Aug 27, 2007 1:46 AM CDT

Stricker Strikes It Big at Barclays

'I never knew if I was going to win again,' says golfer after six-year dry spell

(Newser) - Steve Stricker shot a final-round 69 at The Barclays yesterday to best K.J. Choi and hoist his first trophy in over six years. Stricker's four birdies in the final five holes capped a masterful run at Choi, who'd taken a one-stroke lead with two enormous birdie putts. Stricker's 16-under...

Choi Takes Lead at Barclays
Choi Takes Lead at Barclays
Aug 24, 2007 10:23 PM CDT

Choi Takes Lead at Barclays

(Newser) - K.J. Choi gave Tiger Woods a run for his money at the Barclays today, even though the new dad wasn't entered in the first round of the FedEx Cup. Choi, who's having his best year in golf, made a 5-under 66, giving him a two-shot lead over Rich Beem...

Barclays Bid Gets Backing From the East

China, Singapore put up cash for ABN Amro takeover offer

(Newser) - The Chinese and Singaporean governments have invested almost $5 billion in Barclays, helping the firm float more cash for its bid for ABN. The state-run companies would invest even more if the bid succeeds, which would leave the Chinese state with a holding of 7.7% of the world's new...

Barclays Selling Stake to Fund Bank Battle

10% stake, worth up to $9.6B, could sweeten offer for ABN Amro

(Newser) - Barclays Bank is poised to sell a significant piece of itself to fund its bitterly contested takeover battle for Dutch bank ABN Amro, the Wall Street Journal reports. Barclays is close to a deal with Singapore's government-owned investment firm Temasek Holdings and another investor. A 10% stake is worth up...

RBS Consortium Renews Bid for ABN Amro

$96B offer dwarfs Barclays proposal, but legal woes persist

(Newser) - Refusing to take no for an answer, a coalition led by Royal Bank of Scotland today submitted a renewed $95.6 billion bid for ABN Amro. The offer overshadows a competing $86 billion offer from Barclays, but legal wrangling over the sale of LaSalle Bank continues to bog down the...

Dutch Court Blocks Bank Merger
Dutch Court Blocks Bank Merger
May 3, 2007 1:47 PM CDT

Dutch Court Blocks Bank Merger

Court rules ABN Amro can't sell LaSalle, which jeopardizes Barclay merger

(Newser) - A Dutch court has blocked the sale of ABN Amro's LaSalle Bank, throwing Amro's proposed merger with Barclays into jeopardy. The move—which the court says is intended to protect shareholder interests—could spark a new bidding war over the Dutch bank, whose $87.5 billion proposed merger with Barclays...

Euro Bank Giants to Merge
Euro Bank Giants to Merge
Apr 23, 2007 9:23 AM CDT

Euro Bank Giants to Merge

RBS, regulators may rain on Barclays-AMB AMRO parade

(Newser) - Britain's Barclays Bank and Dutch bank ABN Amro have agreed to merge, creating one of the world's largest banks. The $90 billion deal is far from a sure thing, however—it requires approval by shareholders and regulators, and a group led by Barclays' archrival, the Royal Bank of Scotland, has...

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