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☆ Barclays swings back to profit in first quarter amid strategic overhaul
▼ + stars: | 2024-04-25 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

LONDON — Barclays on Thursday reported first-quarter net income attributable to shareholders of £1.55 billion ($1.93 billion), beating expectations and returning the British lender to profit amid a major strategic overhaul. Analysts polled by Reuters had expected net profit attributable to shareholders of £1.29 billion for the quarter, according to LSEG data. Barclays reported a net loss of £111 million in the fourth quarter of 2023 due to an operational shake-up designed to reduce costs and improve efficiencies. The overhaul saw the reorganization of the business into five operating divisions, separating the corporate and investment bank to form: Barclays U.K., Barclays U.K. Corporate Bank, Barclays Private Bank and Wealth Management, Barclays Investment Bank and Barclays U.S. Consumer Bank. The bank also pledged to return £10 billion to shareholders between 2024 and 2026 through dividends and share buybacks.

Persons: C.S, Venkatakrishnan, — CNBC's Elliot Smith Organizations: LONDON, Barclays, Reuters, Tesco Bank, Corporate Bank, Barclays Private Bank, Wealth Management, Barclays Investment Bank, Barclays U.S . Consumer Bank

☆ Barclays jumps 8.6% after announcing major strategic overhaul
▼ + stars: | 2024-02-20 | by ( Elliot Smith | ) www.cnbc.com time to read: +4 min

LONDON — Barclays on Tuesday reported a fourth-quarter net loss of £111 million ($139.8 million) as the British lender announced an extensive strategic overhaul, boosting its shares more than 8.6% through the day. For the full year, net attributable profit came to £4.27 billion, down from £5.023 billion in 2022 and below a consensus forecast of £4.59 billion. Credit impairment charges were £552 million, up from £498 million in the fourth quarter of 2022. The business will now be divided into five operating divisions, separating the corporate and investment bank to form: Barclays U.K., Barclays U.K. Corporate Bank, Barclays Private Bank and Wealth Management, Barclays Investment Bank and Barclays U.S. Consumer Bank. Barclays is targeting total gross cost savings of £2 billion and an RoTE of greater than 12% by 2026.

Persons: C.S, Venkatakrishnan, Mariva Rivas, DBRS Morningstar, Rivas Organizations: Citigroup Inc, State Street Corp, Barclays Plc, HSBC Holdings Plc, LONDON, Barclays, Reuters, Momentum, Corporate Bank, Barclays Private Bank, Wealth Management, Barclays Investment Bank, Barclays U.S . Consumer Bank, CNBC, U.S Locations: Wharf

☆ India set to miss divestment targets by more than half this year - sources
▼ + stars: | 2023-11-24 | by ( Nikunj Ohri | ) www.reuters.com time to read: +3 min

The government may fall short of its divestment goal by 300 billion rupees ($3.60 billion) in 2023/24, two government sources told Reuters. New Delhi had targeted 510 billion rupees from divestment proceeds for the current fiscal year that ends March, 2024. So far this year, the government has received 80 billion rupees through stake sales, according to government data. The government expects to surpass its 430 billion rupees dividend target and has so far received 203 billion rupees from state-run firms. "As long as the government is meeting its fiscal targets and there isn't a shortfall, missing divestment targets is fine," said Rahul Bajoria, an economist at Barclays Investment Bank.

Persons: Niharika Kulkarni, Narendra Modi's, Subhash Chandra Garg, Rahul Bajoria, Nikunj Ohri, Sam Holmes Organizations: IDBI, REUTERS, Reuters, IDBI Bank, NMDC Steel, Reserve Bank of India, NMDC, Barclays Investment Bank, Thomson Locations: Mumbai, India, DELHI, New Delhi, Chhattisgarh

☆ Prospects for both bonds and stocks are starting to look more attractive: Wilmington's Meghan Shue
▼ + stars: | 2023-10-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailProspects for both bonds and stocks are starting to look more attractive: Wilmington's Meghan ShueMeghan Shue, Wilmington Trust EVP, and Venu Krishna, Barclays Investment Bank head of U.S. equity strategy, joins 'Closing Bell Overtime' to talk the day's market action.

Persons: Meghan Shue Meghan Shue, Venu Krishna Organizations: Wilmington Trust, Barclays Investment Bank Locations: Wilmington

☆ Pro Talks: This fund manager is betting big on the aging theme, including one 'huge' opportunity
▼ + stars: | 2023-06-20 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: +1 min

The world's population is getting older — and it's creating significant investment opportunities, according to Pacific Asset Management's Dani Saurymper. Join CNBC's Arabile Gumede as he discusses with Saurymper how to play the long-term aging theme on Pro Talks . Join CNBC Pro Talks on Wednesday, June 21, at 12 p.m. BST / 7 p.m. SGT / 7 a.m. Learn more from our previous Pro Talks: Tesla vs. BYD: Here's why one fund manager prefers the Buffett-backed automaker Nvidia's stock could rise fivefold in 10 years on A.I. trend, says fund manager Thinking of buying tech stocks?

Persons: Dani Saurymper, Saurymper, Goldman Sachs Organizations: Longevity, AstraZeneca, Pets, Pacific Asset Management, AXA Investment Managers, Barclays Investment Bank, Bank of America Locations: U.S, A.I

The moves add to a trio of Barclays U.S. investment bankers that UBS announced it hired last month. Many Credit Suisse bankers are based in the United States. These bankers follow Barclays ex-colleagues Marco Valla, Jeff Hinton and Kurt Anthony, whose moves to UBS were announced in April. Sources told Reuters last month that UBS plans to retain only a small number of Credit Suisse senior bankers with strong client relationships. At Barclays, Braham was global chair of investment banking for technology, while Hardegree served as vice chair and head of technology M&A.

Persons: Laurence Braham, Richard Hardegree, Richard Casavechia, Ozzie Ramos, Jason Williams, Neil Meyer, Ken Tittle, Marco Valla, Jeff Hinton, Kurt Anthony, dealmaker Michael Klein, Braham, Hardegree, Casavechia, Ramos, Meyer, Tittle, Milana Vinn, Anirban Sen, Greg Roumeliotis, Lisa Shumaker Organizations: YORK, Barclays Plc, UBS Group AG, Barclays U.S, UBS, Credit, Group, Credit Suisse, Barclays, Reuters, Broadcom, VMware Inc, Thomson Locations: United States, Swiss, Zurich, New York

NEW YORK, May 15 (Reuters) - At least seven top Barclays Plc (BARC.L) bankers have resigned to join to UBS Group AG (UBSG.S) in the United States in the last few days, people familiar with the matter said. The moves add to a trio of Barclays investment bankers that UBS announced internally it hired last month. Many Credit Suisse bankers are based in the United States. UBS has hired Laurence Braham, Richard Hardegree, Richard Casavechia, Ozzie Ramos, Jason Williams, Neil Meyer and Ken Tittle from Barclays, the sources said. These bankers follow Barclays ex-colleagues Marco Valla, Jeff Hinton and Kurt Anthony, whose moves to UBS were announced in April.

☆ Tellurian appoints Barclays' Simon Oxley as CFO
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: 1 min

Companies Tellurian Inc FollowMay 10 (Reuters) - U.S. liquefied natural gas (LNG) developer Tellurian Inc <TELL.A> said on Wednesday it has appointed Simon Oxley as chief financial officer, effective June 1. Oxley, who worked at Barclays Investment Bank as co-head of Oil & Gas Investment Banking for Europe, the Middle East, and Africa, will take over from Khaled Sharafeldin, who had been serving as the interim finance chief after Kian Granmayeh resigned from the CFO position in March. Oxley joins Tellurian after its Driftwood project has seen many setbacks including the cancellation of some LNG supply deals after two major potential customers last year raised concerns around the company's ability to finish the project. Reporting by Arshreet Singh; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Regional bank stocks could be a market afterthought in the week ahead
▼ + stars: | 2023-05-05 | by ( Scott Schnipper | ) www.cnbc.com time to read: +7 min

For the immediate economic and earnings and growth outlook, it almost seems irrelevant whether regional bank stocks rally, steady or sell off more next week. Regional banks were top of mind for investors this past week, as First Republic failed , the SPDR S & P Regional Banking ETF tumbled more than 10% — twice the five-day loss in the S & P 500 Energy Index, the hardest hit S & P sector — and lenders such as PacWest Bancorp and Western Alliance Bancorp lost billions in market value. And, for all that, the S & P 500 only fell about 0.75% this week. Now the conventional wisdom on Wall Street is that regardless of how the regional bank stocks trade, it's a given that bank lending officers are going to pull in their horns and risk management desks will grow more risk averse. But stocks still face a host of issues, none of which are going away next week.

☆ Inflation is proven to be a little stickier than people expected, says Barclays' Venu Krishna
▼ + stars: | 2023-03-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInflation is proven to be a little stickier than people expected, says Barclays' Venu KrishnaVenu Krishna, head of US equity strategy with Barclays Investment Bank, and Aditya Bhave, Bank of America senior U.S. and global economist, join 'TechCheck' to discuss their thoughts on the market and the decline in European bank stocks.

☆ Raymond James' Tavis McCourt and Barclays' Venu Krishna break down the market
▼ + stars: | 2023-03-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRaymond James' Tavis McCourt and Barclays' Venu Krishna break down the marketTavis McCourt, Raymond James institutional equity strategist, and Venu Krishna, head of US equity strategy with Barclays Investment Bank, join 'Squawk on the Street' to discuss their thoughts on inflation and the market.

☆ You can't ignore the risk and move on, says Barclays' Venu Krishna
▼ + stars: | 2023-02-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailYou can't ignore the risk and move on, says Barclays' Venu KrishnaVenu Krishna, head of US equity strategy with Barclays Investment Bank, joins 'TechCheck' to discuss the market, the Fed rate hike decision, and why he sees earnings declining in the future.

The pan-European STOXX 600 (.STOXX) was up 0.1% by 0910 GMT, extending gains for a sixth straight day on boost from rate-sensitive technology stocks (.SX8P) and industrials (.SXNP). Richemont (CFR.S) rose 2% on reporting higher quarterly sales as tourists returned to Europe and Japan. Still, the luxury group missed market estimates after sales in China plunged by almost a quarter. "For luxury, China is quite important with more hopes of rebounding activity in the first half of this year," said Emmanuel Cau, head of European equity strategy at Barclays Investment Bank. Reporting by Bansari Mayur Kamdar and Ankika Biswas in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ Watch CNBC's full discussion with RBC's Lori Calvasina and Barclays' Venu Krishna
▼ + stars: | 2023-01-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full discussion with RBC's Lori Calvasina and Barclays' Venu KrishnaLori Calvasina, RBC Capital Markets, and Venu Krishna, Barclays Investment Bank, join CNBC's 'Squawk on the Street' to discuss where they see the markets headed this year.

☆ There is hope for more bear market rallies, but they're not sustainable, says Barclays' Venu Krishna
▼ + stars: | 2022-11-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere is hope for more bear market rallies, but they're not sustainable, says Barclays' Venu KrishnaVenu Krishna, head of US equity strategy with Barclays Investment Bank, joins 'Power Lunch' to discuss pulling out of the market, anticipating an earnings bottom and factoring in a growth slowdown.

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