Barclays Bank

Morgan Stanley cut 3,000 jobs in the second quarter and Goldman Sachs reinstated performance ratings that usually result in firing of the worst performers. Citigroup announced it had cut 1,600 jobs in the April-June quarter.

Barclays Bank to merge bPay and Pingit

In a strategic move, these two have been brought together so that Barclays gets the teeth to fight strong market rivals like Apple and Goldman Sachs.

Consumer forum fines Barclays bank for unfair trade practices

The forum's order came on a complaint by South Delhi resident Bhagwat Prasad after the bank failed to adjust Rs 10,000, the full payment made by him towards a credit card purchase, and instead kept on adjusting it towards the EMI.

ArcelorMittal launches offer to buy securities worth over $3bn

The company will fund both the bond purchases through "existing cash resources" as well as from proceeds of the USD 3 billion rights issue that closed last week, the world's biggest steelmaker said in a statement.

Britain fines Barclays 72 mn pounds over 'elephant' deal

The Financial Conduct Authority said Barclays rushed through a huge 1.88-billion pounds transaction in order to secure fees from a number of very rich customers.

Barclays positive on economic prospects in India

Despite the political gridlock in the upper house of the parliament, the government seems confident that it will be able to implement the Goods & Services Tax (GST) next year, and preparation for the new tax continues, the UK-based bank said.

InterGlobe Aviation IPO off to flying start; subscribed 87%

With this, the company's IPO has emerged as the most sought after public offer so far this year as the issue witnessed strong investor response on the first day itself.

Interglobe Aviation IPO scan by VS Fernando

VS Fernando a veteran IPO analyst has come out with his view on Interglobe Aviation (Indigo) IPO. "Emptying the company‘s coffers to fill the promoters‘ kitty on the eve of IPO exposes the caliber of professional management", says the expert.

Oil prices volatile in Asian trade

US benchmark West Texas Intermediate for November was up seven cents to USD 44.50 and Brent crude for November added four cents to USD 47.38 in late-morning trade, but prices were swinging in positive and negative territory.

Tenon acquires UK-based Office & General Group for Rs 65 cr

Barclays Bank has provided the necessary funding support, Delhi-based Tenon group said in a statement. Tenon announced "the 100 per cent acquisition of Office & General Group Ltd (O&G), UK's leading independent facility management service company, for 6.5 million pounds (approx Rs 65 crore), in cash and equity deal".

Indigo lines up Rs 2,500-cr IPO; files papers with Sebi

InterGlobe Aviation Limited, which runs the country's biggest airline by market share under 'IndiGo' brand, has offered to issue fresh shares worth Rs 1,272 crore, an equivalent amount can be raised through sale of up to 3.01 crore shares by its existing shareholders.

Essar Oil UK gets new long term working capital funding

Essar had in August 2011 completed the USD 350 million acquisition of the oil refinery and other associated assets at Stanlow, near Ellesmere Port, Cheshire, from Shell UK Limited.

RBI fines 22 banks, warns 7 for KYC violations

The Reserve Bank of India (RBI) on Monday slapped penalty of nearly Rs 50 crore among 22 banks for violation of Know Your Customer (KYC) or anti money laundering (ALM) norms. Moreover, it warned seven more banks by issuing cautionary letters.

India committed to reforms, FM tells European investors

Assuring India's commitment to pursue economic reforms, Finance Minister P Chidambaram has said government will cut fiscal and current account deficits to help economy return to the 8 per cent growth path.

CCI gives its consent to Kotak-Barclay deal

Fair trade regulator CCI has approved Kotak Mahindra Bank's proposal to acquire Barclays Bank's unsecured loan business in India, saying the deal would not have any adverse impact on competition.

JP Associates launches FCCB issue of upto $200mn; stk down

Jaiprakash Associates has launched FCCB issue of upto USD 200 million. Barclays Bank and Standard Chartered Bank jointly lead managers for the offer, reports CNBC-TV18.

Essar Energy in pact with Barclays Bank

Essar Energy today said its subsidiary Essar Oil UK has entered into new arrangements with Barclays Bank covering the supply of crude oil to its Stanlow refinery in the UK.

LIBOR scam: Time to opt transacted rate? Experts discuss

LIBOR, or the daily London interbank offered rate, is a key benchmark rate that reflects how much it costs banks to borrow from each other. It is the reference rate for about USD 350 trillion of financial products, ranging from interest rate swaps and corporate loans to credit cards, mortgages and savings accounts.

SBI eyes USD 2 bn bond offering; hires six bankers

State-owned banking giant SBI is planning to raise up to USD 2 billion in overseas borrowings through dollar-denominated bonds and has hired six investment banks, including Citigroup and UBS, for the issue.

Greek exit depends on bank funding, not govt: Expert

This week the spotlight is solely on Greece. Banks and analysts are now openly counting the losses to the euro system in case of a Greek exit.

Sistema India phone unit raises $200m bank loan

Sistema's Indian mobile phone unit said on Thursday it had raised a bank loan of USD 200 million to fund its expansion of telecoms operations.

Barclays to hire 20 for India equities: Sources

UK-based Barclays Bank will hire about 20 people for its newly launched equities business in India over the next couple of months.

RBI penalises 19 banks for violating rules on derivatives

The Reserve Bank of India has fined 19 banks for volating rules on derivatives, reports CNBC-TV18.