Connect with us

News

Barclays expects £450mn hit in US structured products unit

Published

on

Barclays expects £450mn hit in US structured products unit

Barclays has delayed its £1bn share buyback programme because the British financial institution prepares to pay clients £450mn for losses made in its US structured merchandise enterprise.

The variety of structured securities Barclays issued in 2019 exceeded the extent of curiosity, which suggests the financial institution expects to pay clients £450mn to unwind the transactions based mostly on present market costs, the UK lender mentioned on Monday.

Barclays added that the loss would trigger a 0.14 share level hit to its frequent fairness tier 1 ratio — a measure of its potential to resist monetary misery — which might stay within the 13-14 per cent goal vary.

“The £1bn share buyback programme introduced on 23 February 2022 as a part of full-year 2021 outcomes is now anticipated to start in [the second quarter],” the financial institution mentioned.

“Barclays has commissioned an impartial overview of the details and circumstances regarding this matter together with, amongst different issues, the management atmosphere associated to such issuances. Individually, regulatory authorities are conducting inquiries and making requests for info.”

Advertisement

Joseph Dickerson, an analyst at Jefferies, mentioned the loss was “an unhelpful matter which has triggered an impartial overview across the management atmosphere”, including that “regulatory enquiries might weigh on sentiment”.

Barclays mentioned it registered $20.8bn in most combination providing of worth securities in August 2019, which exceeded the registered quantity by round $15.2bn.

The monetary providers group’s shares dropped greater than 2 per cent in early London buying and selling on Monday, bringing their decline for the yr to 12 per cent.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

News

Dozens of monkeys escape from South Carolina research facility

Published

on

Dozens of monkeys escape from South Carolina research facility

River, left, and Timon, both rhesus macaques who were previously used in medical research, sit in an outdoor enclosure at Primates Inc., in Westfield, Wis., on May 13, 2019. The sanctuary is a 17-acre rural compound where research animals can live their remaining years when their studies are done. A report released on Thursday, May 4, 2023, says a shortage of monkeys available for medical research undermines U.S. readiness to respond to public health emergencies.

Carrie Antlfinger/AP


hide caption

toggle caption

Advertisement

Carrie Antlfinger/AP

Dozens of monkeys have escaped from a research facility in Yemassee, S.C., prompting police to urge residents to lock their doors and windows until the primates have been captured.

The Alpha Genesis Primate Research Center is home to the 43 escaped female rhesus macaque primates, which police describe as very young and weighing between 6 and 7 pounds.

“The Yemassee Police Department, in collaboration with Alpha Genesis, have initiated search teams to help locate the escaped primates. Alpha Genesis currently have eyes on the primates and are working to entice them with food,” police said in a statement.

Advertisement

“The public is advised to avoid the area as these animals are described as skittish and any additional noise or movement could hinder their safe capture.”

The monkeys had never been used for testing due to their young age, and they’re too young to carry diseases, the statement said.

Attempts to reach Alpha Genesis for comment went unanswered.

Speaking to CBS News, Alpha Genesis CEO Greg Westergaard said that a caretaker accidentally left a door to the enclosure unsecured. The ensuing escape, he said, was like an all-too-literal version of monkey see, monkey do.

“It’s really like follow-the-leader. You see one go and the others go,” Westergaard said. “It was a group of 50 and seven stayed behind and 43 bolted out the door.”

Advertisement

Even though he called the escape “frustrating,” Westergaard said he hoped the monkeys would ultimately return home of their own free will.

Continue Reading

News

Video: Biden Promises Americans an Orderly Transition of Power to Trump

Published

on

Video: Biden Promises Americans an Orderly Transition of Power to Trump

new video loaded: Biden Promises Americans an Orderly Transition of Power to Trump

transcript

transcript

Biden Promises Americans an Orderly Transition of Power to Trump

President Biden vowed to honor the Constitution with an orderly transfer of power to President-elect Donald J. Trump.

I know for some people, it’s a time for victory, to state the obvious. For others, it’s a time of loss. Campaigns are contests of competing visions. The country chooses one or the other. We accept the choice the country made. I’ve said many times, you can’t love your country only when you win. You can’t love your neighbor only when you agree. I will do my duty as president. I’ll fulfill my oath and I’ll honor the Constitution. On Jan. 20, we’ll have a peaceful transfer of power here in America. Yesterday, I spoke with President-elect Trump to congratulate him on his victory. And I assured him that I’d direct my entire administration to work with his team to ensure a peaceful and orderly transition. That’s what the American people deserve. Yesterday, I also spoke with Vice President Harris. She’s been a partner and a public servant. She ran an inspiring campaign and everyone got to see something that I learned early on to respect so much: her character. She has a backbone like a ramrod. She has great character — true character. She gave her whole heart and effort, and she and her entire team should be proud of the campaign they ran. Remember, a defeat does not mean we are defeated. We lost this battle. The America of your dreams is calling for you to get back up. The American experiment endures. We’re going to be OK, but we need to stay engaged. We need to keep going. And above all, we need to keep the faith.

Advertisement

Recent episodes in 2024 Elections

Continue Reading

News

43 monkeys escape from a South Carolina medical lab. Police say there is no serious danger

Published

on

43 monkeys escape from a South Carolina medical lab. Police say there is no serious danger

Forty-three monkeys escaped from a compound used for medical research in South Carolina but the nearby police chief said there is “almost no danger” to the public.

“They are not infected with any disease whatsoever. They are harmless and a little skittish,” Yemassee Police Chief Gregory Alexander said Thursday morning.

The Rhesus macaque primates escaped from the Alpha Genesis facility Wednesday when a new employee didn’t fully shut an enclosure, Alexander said.

The company usually handles escapes on site, but the monkeys got outside the compound about 1 mile (1.6 kilometers) from downtown Yemassee, Alexander said.

“The handlers know them well and usually can get them back with fruit or a little treat,” Alexander told The Associated Press by phone.

Advertisement

But rounding up these escapees is taking some more work. Alpha Genesis is taking the lead, setting up traps and using thermal imaging cameras to recapture the monkeys on the run, the chief said.

“There is almost no danger to the public,” Alexander said.

People living nearby need to shut their windows and doors so the monkeys can’t find a place to hide inside and if they see the primates, call 911 so company officials and police can capture them.

Alpha Genesis provides primates for research worldwide at its compound about 50 miles (80 kilometers) northeast of Savannah, Georgia, according to its website. The company did not respond to an email asking about Wednesday’s escape.

In 2018, federal officials fined Alpha Genesis $12,600 after dozens of primates escaped as well as for an incident that left a few others without water and other problems with how the monkeys were housed.

Advertisement

Officials said 26 primates escaped from the Yemassee facility in 2104 and an additional 19 got out in 2016.

Continue Reading

Trending