July 3, 2012
The UK’s Financial Services Authority (FSA) is reviewing how wholesale markets are supervised following the interest rate-setting scandal, its chairman Adair Turner said on Tuesday. “There are no free lunches, and shoddy wholesale practice is not a victimless act, even …
June 29, 2012
Britain will expose on Friday a second scandal involving the country’s banks in as many days, as Barclays boss Bob Diamond clings to his job after regulators slapped a record fine on the lender for rigging interest rates. The Financial …
November 23, 2011
Bailed-out insurer American International Group is unlikely to add to reserves in the current quarter, though investors may not be convinced the reserves are adequate, Barclays Capital said Tuesday. Barclays analyst Jay Gelb, in a note to clients, said he …
October 7, 2011
Del Monte Corp. and Barclays Capital agreed Thursday to pay $89.4 million to settle a lawsuit that claimed they had not acted in investors’ best interests in the food company’s $4 billion takeover. Lawsuits stemming from the takeover have raised …
May 9, 2011
British banks gave up a fight over compensating customers wrongly sold insurance, forcing Barclays Plc and HSBC to take a combined hit of more than $2 billion in the latest blow to the industry. Barclays said it would make a …
March 28, 2011
Risk modeling company AIR Worldwide tightened its estimate for insured losses from the Japan earthquake and tsunami, as one analyst said reinsurers did not appear to be raising rates fast enough to compensate for the March 11 disaster. AIR estimated …
January 19, 2011
Insured losses from the recent flooding in Australia could top $6 billion, and earnings estimates for Bermudan reinsurers are at risk as a result, Barclays Capital said Tuesday. Barclays analyst Jay Gelb cited early estimates for $4 billion of losses …