Barclays Plc

Founded in 2011, Remitly is backed by investment firms including Generation Investment Management, which was co-founded by former U.S. Vice President Al Gore; the family office of Amazon.com Inc founder Jeff Bezos; and PayU, a unit of Prosus NV.

Deutsche Bk reaches $7.2bn settlement with DoJ on mortgages case

Deutsche Bank said it would pay USD7.2 billion to the U.S. Department of Justice, related to its issuance and underwriting of residential mortgage-backed securities (RMBS) and other activities during 2005 to 2007.

Deutsche Bank to pay $60 mn to settle US gold price-fixing case

Deutsche Bank AG has agreed to pay USD 60 million to settle private U.S. antitrust litigation by traders and other investors who accused the German bank of conspiring to manipulate gold prices at their expense.

Barclays to exit Africa in 'transatlantic' makeover

The British bank said on Tuesday it planned to sell its 62 percent stake in Barclays Africa Group over the next two to three years, ending its presence on the continent after more than a century and becoming a "transatlantic" bank focused on the United States and Britain.

Barclays plans to shut India equities business: Sources

Barclays equities business in India, which was rolled out in 2011, includes research and broking services for institutional investors, and it employs about two dozen people, the sources told Reuters.

Barclays in $13.75 million US settlement over mutual funds

The Financial Industry Regulatory Authority said the London-based bank's Barclays Capital Inc unit will pay more than USD 10 million in restitution, including interest, to affected customers, and was fined USD 3.75 million.

Barclays to sell parts of investment banking biz in Brazil

Earlier this month, agency reported Barclays' sale of its Portugal assets for 175 million euros (USD 196.02 million)and talks of it offloading its Italian retail network and a portfolio of Italian mortgages worth 4 billion euros.

Barclays must face US class action over Libor

US District Judge Shira Scheindlin in Manhattan, whose May 2013 dismissal of the case was overturned by an appeals court, said the claims were similar enough to justify letting the shareholders sue as a group.

RBS in talks to sell private banking unit to Sanctum Wealth

Switzerland's Union Bancaire Privee said in March it was buying the overseas business of British wealth manager Coutts from RBS, as part of the bank's drive to pull back from foreign markets and focus on UK retail and commercial banking.

Barclays plans to cut more than 30,000 jobs

Barclays Plc plans to cut more than 30,000 jobs within two years after firing Chief Executive Antony Jenkins this month, The Times reported.

New Canadian stock exchange seeks to challenge dominant TMX

Its founders said on Tuesday that the new exchange, expected to launch in late 2014, will cater to retail and institutional investors who they believe have been short-changed by predatory high-frequency trading practices.

Kotak Mahindra Bank buys biz loans book of Barclays India

Private sector lender Kotak Mahindra Bank Ltd said on Tuesday it acquired the business loans portfolio of the Indian arm of Barclays Plc

Barclays to cut at least 70 jobs in Asia invst banking

Barclays Plc is cutting at least 70 jobs in Asian investment banking as part of a global strategic review started by Chief Executive Antony Jenkins, sources familiar with the matter told Reuters on Thursday.

Pay cuts may signal 'new normal' on Wall Street

In the past few days, major global banks have taken the axe to pay with unusual zeal.

5 fallen idols of 2012

The Kolkata born Gupta was one of the most respected global business icons coming out of India.

Potential for $200 bln of European IPOs: Barclays

Potential initial public offerings in Europe could raise as much as $200 billion over the next 18 months, a senior banker at Barclays Plc said on Thursday, as companies begin to return to the moribund flotations market.

Barclays sorry for Libor as profits top 4 bln stg

British bank Barclays Plc said it was confident it will repair the damage caused by an interest rate rigging scandal that has rocked it and the banking industry after beating expectations with a 4 billion pound profit.

Bernanke says Libor system flawed but can't do much

Federal Reserve Chairman Ben Bernanke said on Tuesday that the process for setting the Libor benchmark international lending rate is "structurally flawed" but said there was little the central bank could do to reform the system that has rattled investor confidence in financial markets.

Investors fear rushed decision over Barclays top roles

Top Barclays Plc shareholders fear that regulators will rush through the appointment of a new chief of the scandal-struck bank and not take the time to search for an outsider to bring about a root-and-branch culture change.

Moody's downgrades Barclay's debt rating outlook

Ratings agency Moody's downgraded Barclays Plc's debt rating outlook to negative from stable, citing the resignations of senior executives including Chief Executive Bob Diamond in the wake of an interest rate-rigging scandal.

Barclays CEO resigns on interest rate scam

Barclays Plc today said its chief executive officer Bob Diamond has resigned with immediate effect after increasing pressure to step down following global interest rate manipulation scandal.

Barclays beats Lehman in USD 11 bn

Lehman Brothers Holdings Inc's hurried sale of much of its operations to Barclays Plc at the height of the financial crisis was fair, and its bankruptcy estate is not entitled to recover USD 11 billion windfall, a federal judge ruled.

Barclays to link pay to capital strength: Sources

Barclays Plc is linking the pay of over 1,000 senior bankers to the British bank's capital strength under pay awards to be unveiled this week, people familar with the matter said on Sunday.

Egypt crisis: How bad could things get?

Oil prices, which rose to levels just short of 100 dollars a barrel on Friday, are holding firm as protests against Egyptian president Hosni Mubarak's regime enter the seventh day.