DIRS.INFO The most relevant business & tech news

☆ Despite headwinds from the UAW strikes, Barclays sees 20% upside for this under-the-radar auto stock
▼ + stars: | 2023-10-16 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Stellantis ' strong growth outlook should successfully mitigate any headwinds from the ongoing United Auto Workers strike, according to Barclays. Barclays' price target of €22.5, or $23.74, implies more than 20% upside from Stellantis' $19.68 close Friday afternoon. Despite this, Stellantis' stock is still trading near its all-time highs after rallying close to 40% so far this year. STLA YTD mountain STLA ytd chart Analyst Henning Cosman acknowledged that many investors may be reluctant to jump into the stock at its current elevated levels. As another risk factor, Cosman believes the company will not be able to report a clean set of earnings until July 2024 or August 2024 given the current strike.

Persons: Stellantis, Henning Cosman, Cosman, Carlos Tavares, Michael Bloom Organizations: United Auto Workers, Barclays, UAW, EU, US Auto Locations: Amsterdam

☆ I use a rainy day cash fund to splurge on items like SZA tickets. My method is a little 'girl math' and a little 'cash stuffing,' but it works for me.
▼ + stars: | 2023-10-15 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +3 min

I bought SZA concert tickets with a rainy day cash fund. On the back in gold gel-pen letters, I'd written "Rainy Day Cash." Inside was a small amount of cash I'd received for my birthday a couple of months ago. Girl math became the topic of viral videos on TikTok in which women justify spending money on coffee, clothes, or concert tickets because the cost is relative to the value they place on it. Timothy Norris/GettyMy cash envelope was similar to another personal finance strategy called " cash stuffing ," by which people budget their monthly expenses in cash envelopes and only spend what they have set aside for each category.

Persons: —, Taylor, I'd, Imani Barbarin, SZA, Timothy Norris, Getty Organizations: Service, Ticketmaster, Barclays Center

☆ This highly profitable industry is booming as the population ages
▼ + stars: | 2023-10-15 | by ( Michelle Fox | ) www.cnbc.com time to read: +10 min

Enteral nutrition is administered through a feeding tube or it can be taken orally. Fresenius owns 32% of Fresenius Medical Center, which saw shares drop on recent news that Ozempic's kidney disease treatment trial showed signs of success. Clinical nutrition is about 20% of group profits and an important subset of its larger specialized nutrition unit, Ackerman said. "Many investors only focus only on their infant formula unit and don't know how big or how profitable clinical nutrition is," he said. "Clinical nutrition is the jewel in Danone's crown and probably the most attractive part of Danone's portfolio, yet is hidden from investors."

Persons: Stefano Natella, — hasn't, Hassan Al, Wakeel, Warren Ackerman, Ackerman, Lindsay Clarke, Enteral, Danone's Nutrison, —, Baxter, Abbott, Sara Hennicken, Fresenius, Nestlé, Mark Schneider, Nestle, — CNBC's Michael Bloom Organizations: Guggenheim, World Health Organization, WHO, Barclays, Danone, Fresenius, Al, Alliance for Aging Research, Aging, CNBC, Nestle, Companies, — Nestle, Nutrition, Fresenius Medical Locations: German, Paris, China, Swiss, United States, parenteral, Latin America

After a brief technical hitch, the opening night of the tour was indeed a celebration. Madonna played songs from across her vast career, including studio recordings and footage drawing on four decades of hits. On the set list were iconic songs from “Like a Prayer” to “Holiday” to “Vogue” to “La Isla Bonita." She also included more niche tracks such as “Die Another Day” from the 2002 Bond movie of the same name. During an acoustic moment in the show, Madonna spoke out about the ongoing war in the Middle East.

Persons: — Madonna, “ I’m, I’ll, she'd, Lourdes Leon, Madonna, ”, ” Madonna, Mexico City’s Palacio Organizations: London's O2, Vogue, Barclays Center, Mexico City’s, Deportes Locations: Isla Bonita, Vancouver, Las Vegas, Brooklyn , New York, Mexico

☆ Novo Nordisk raises full-year guidance again as US sales of Wegovy, Ozempic fly
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +2 min

The Danish drugmaker said it now expects sales growth this year between 32% and 38%, from a previous forecast of 27%-33%. It raised its full-year outlook for growth in earnings before interest and tax (EBIT) to 40-46% from the previous 31-37% range. Novo became Europe's most valuable company this year on soaring demand for weekly injection Wegovy and its lower-dose version Ozempic. The new sales outlook for this year primarily reflects higher expectations for profits related to sales of Ozempic and Wegovy in the United States. Operating profit grew 37% between January and September, with 47% growth in the third quarter.

Persons: Victoria Klesty, Danish drugmaker, Jeffries, Louise Breusch Rasmussen, Jacob Gronholt, Pedersen, Maggie Fick, Terje Solsvik, Susan Fenton, Emelia Organizations: REUTERS, Novo Nordisk, COPENHAGEN, Analysts, Barclays, Novo, Thomson Locations: Oslo, Norway, Victoria, United States, Danish, Wegovy, The Copenhagen, London

☆ Analysis-Hamas' Cash-To-Crypto Global Finance Maze in Israel's Sights
▼ + stars: | 2023-10-13 | by ( Oct. | At P.M. | ) www.usnews.com time to read: +6 min

In the past, Hamas has said financial restrictions placed on its donors were an attempt to neutralise legitimate resistance against Israel. However, since last weekend's violence, prominent Hamas-linked support groups had moved just a few thousands dollars through crypto, TRM noted. Between Dec. 2021 and April this year, Israel seized almost 190 crypto accounts it said were linked to Hamas. SHIPS AND SHELLSWhether through crypto or other means, Hamas' allies have found ways to get money to Gaza. "Qatari aid to the Gaza Strip is fully coordinated with Israel, the UN and the U.S.," the Qatari government official said.

Persons: Al Sayegh, John O'Donnell, Elizabeth Howcroft, Matthew Levitt, Levitt, Tom Robinson, TRM, Israel, they've, Stephen Reimer, Saeed Azhar, Sinead Cruise, Tom Wilson, Tommy Wilkes, Andrew Mills, Frank Jack Daniel Organizations: Elizabeth Howcroft LONDON, Reuters, Hamas, Barclays, Islamic Resistance Movement, State Department, TRM Labs, The U.S . State Department, U.S . Treasury, UN, Qatari, Royal United Services Institute, Parisa Locations: DUBAI, Gaza, Israel, U.S, Iran, Qatar, United States, Britain, The, Turkey, Saudi Arabia, Tehran, Islamic Republic, New York, London, Doha, Dubai

☆ Barclays appoints Geoffrey Belsher as new Canada CEO
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +1 min

Barclays Bank logo is seen in this illustration taken March 12, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsOct 13 (Reuters) - Barclays (BARC.L) on Friday named investment banking veteran Geoffrey Belsher as chairman and country chief executive officer for Canada, effective Oct. 16. Belsher has previously held senior role in Canadian Imperial Bank of Commerce (CM.TO). He was also the president of Canadian operations of Barclays Capital and its predecessor Lehman Brothers Canada, according to the company's statement. Belsher would be based in Toronto and report to CEO of Americas Richard Haworth and the global co-heads of investment banking Cathal Deasy and Taylor Wright.

Persons: Dado Ruvic, Geoffrey Belsher, Belsher, Richard Haworth, Cathal Deasy, Taylor Wright, Bruce Rothney, Pritam Biswas, Shilpi Majumdar Organizations: Barclays Bank, REUTERS, Barclays, Canadian Imperial Bank of Commerce, Barclays Capital, Lehman Brothers Canada, Citigroup, Jefferies Financial, Reuters, Thomson Locations: Canada, Toronto, U.S, Bengaluru

☆ ECB policymakers eye springtime push to cut payments on banks' deposits, sources say
▼ + stars: | 2023-10-13 | by ( Balazs Koranyi | ) www.reuters.com time to read: +5 min

MARRAKECH, Oct 13 (Reuters) - European Central Bank policymakers are planning a springtime push to cut interest payments made to commercial banks, in part to recoup some of the costs associated with a decade worth of stimulus, sources familiar with discussions said. That would mean overall interest payments to lenders - which still earn the ECB deposit rate, currently 4%, on other excess cash parked with the central bank - would be reduced further. But the ECB rejected the proposal in July, partly on resistance from its Executive Board, the sources said. The board's key argument is that excess liquidity is distributed unevenly across the euro zone and raising the ratio would put an excessive burden on smaller banks with a larger portion of deposits. Deutsche Bank CEO Christian Sewing argued that the change would add to banks' financial burdens and restrict their lending options.

Persons: Bundesbank, Joachim Nagel, Robert Holzmann, Latvia's Martin Kazaks, Isabel Schnabel, Austria's Holzmann, France's Francois Villeroy de, Pierre Wunsch, We're, Schnabel, Deutsche Bank CEO Christian Sewing, Tom Sims, John Stonestreet Organizations: Central Bank, ECB, Austrian, Barclays, Deutsche Bank CEO Christian, Thomson Locations: MARRAKECH

☆ Wall Street hiring is up, but it's not what you think. Here's what's really going on.
▼ + stars: | 2023-10-13 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +4 min

Third-quarter earnings season kicked off on Wall Street with JPMorgan and Citigroup reporting that headcount is up. In announcing third-quarter earnings, JPMorgan said headcount was up 7% over this time last year to 308,669. And the geopolitical conflict in the Middle East raises concerns about whether dealmaking — and therefore investment banking hiring — will come back next year. The investment bank, which was recently bought by Swiss rival UBS, said it currently has more than 2,000 staffers in that location. At Citi, investment banking fees were down 18% over last year, although underwriting fees have improved as companies look to sell more debt and stock.

Persons: headcount, Mark Mason, Mason, dealmaking, —, Jane Fraser, Goldman Sachs, Jamie Dimon, Fraser, I'm Organizations: JPMorgan, Citigroup, Citi, Credit Suisse, New York Department of Labor, Madison, Swiss, UBS, Financial Times, Barclays Locations: New York City

☆ Here are Friday's biggest analyst calls: Nvidia, Tesla, Dollar General, Amazon, Meta, SolarEdge & more
▼ + stars: | 2023-10-13 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

HSBC initiates American Express as buy HSBC said it sees healthy earnings growth for American Express . Mizuho reiterates Meta as buy Mizuho said it's standing by its buy rating heading into earnings later this month. Bernstein reiterates Tesla as underperform Bernstein concluded in an analysis of Tesla that the company is more of an automaker than a tech company. Barclays upgrades Varonis Systems to overweight from equal weight Barclays said it sees numerous positive catalysts ahead for the software company. Northland upgrades SolarEdge to outperform from market perform Northland said investors should buy the dip in shares of SolarEdge .

Persons: Cowen, NVDA, Mizuho, Stephens, Bernstein, Tesla, underperform Bernstein, Warren Buffett, Hershey, Morgan Stanley downgrades JD.com, Morgan Stanley, Gordon Haskett, Todd Vasos, Jeff Owen, Read, Wolfe, today's, Baird, Needham, Oppenheimer, Wells, LULU, Meghan Frank, Howard Tubin Organizations: HSBC, American, American Express, Bank of America, Nvidia, Meta, Barclays, Varonis, Hershey, JPMorgan, Post Holdings, Netflix, Citi, Oshkosh, Lam Research, Materials, Supply, VP Locations: 4Q22, Northland, SolarEdge, Israel, California

After many companies were wrongfooted by the speed and breadth of prohibitions on Russia, banks are drawing up contingency plans in case geopolitical tensions between the West and China escalate, seven finance industry sources said. The U.S. Treasury Department, which runs the Office of Financial Sanctions Implementation, Britain's Foreign Office and Barclays did not respond to requests for comment. Three senior London-based bankers, who declined to be named because they were not authorised to speak publicly, said their boards had discussed the possibility of stronger Western sanctions on China in future. Scenarios from major cyber-attacks through to a military intervention in Taiwan could potentially trigger further prohibitions on China, one lawyer who advises banks said. One of the bankers said sanctions on Russia had "removed naivety" among businesses and prompted the industry to think more deeply about China risks.

Persons: Neil Whiley, Whiley, Xi Jinping, Joe Biden, Leigh Hansson, Reed Smith, Banks, Biden, Sinead Cruise, Stefania Spezzati, Lawrence White, Michelle Price, Catherine Evans Organizations: Banking, UK Finance Bank, British, Reuters, UK Finance, HSBC, Barclays, JPMorgan, U.S . Treasury Department, Office, Communications, Standard Chartered, Standard, London underwriters, Thomson Locations: China, Western, Britain, U.S, Russia, West, Taiwan, Beijing, London, Ukraine, United States, British, Asia, Washington

☆ Ex-Barclays CEO Jes Staley Fined in Jeffrey Epstein Probe
▼ + stars: | 2023-10-12 | by ( Josh Mitchell | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/finance/regulation/ex-barclays-ceo-jes-staley-fined-in-jeffrey-epstein-probe-40ad3108

Persons: Dow Jones, staley, epstein Organizations: barclays

☆ Jes Staley: UK FCA bans former Barclays CEO for failing to disclose Epstein ties
▼ + stars: | 2023-10-12 | by ( Olesya Dmitracova | ) edition.cnn.com time to read: +2 min

Mr Staley failed to do this,” Therese Chambers, joint executive director of enforcement and market oversight at the FCA, said in the statement. The FCA found that Staley “recklessly” approved a letter Barclays sent to the watchdog, which contained two misleading statements, the agency said. The letter, in response to an FCA request in August 2019, claimed that Staley did not have a close relationship with Epstein. “In reality, in emails between the two Mr Staley described Mr Epstein as one of his ‘deepest’ and ‘most cherished’ friends,’” the FCA said. The Barclays letter also claimed Staley had ceased contact with Epstein well before he joined the British bank in December 2015.

Persons: London CNN — James “ Jes ” Staley, Jeffrey Epstein, “, Mr Staley, ” Therese Chambers, Mr Epstein, ” Epstein, Staley “, ”, Staley, Epstein, ’ Organizations: London CNN, JPMorgan Chase, Barclays, Financial, Authority, Staley, FCA, British, JPMorgan Locations: New York

☆ Stocks making the biggest moves premarket: Ford, Target, Walgreens, Domino's Pizza, First Solar and more
▼ + stars: | 2023-10-12 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Target — The retailer rose 2.8% after Bank of America upgraded Target to buy from neutral. ResMed — The medtech device stock slipped 2% after a downgrade by RBC Capital Markets to sector perform from outperform. Plug Power — The battery stock added 1.2% after JPMorgan added the company to its positive catalyst watchlist, and highlighted potential near-term upside. First Solar — Stock in the solar panel maker added nearly 4% following an upgrade to overweight from Barclays, with analyst Christine Cho highlighting an attractive valuation. Domino's Pizza — Shares of the pizza delivery company slipped more than 3% on mixed third-quarter results.

Persons: ResMed, Christine Cho, Warby Parker, Janine Stichter, Jesse Pound, Michelle Fox, Pia Singh, Yun Li Organizations: Ford —, United Auto Workers, Target, Bank of America, Walgreens, Delta Air Lines, Delta, RBC Capital Markets, RBC, JPMorgan, Barclays, BTIG, BMO Capital Markets Locations: Kentucky, U.S

But in email messages, Staley described Epstein as one of his “deepest” and “most cherished” friends, according to the regulator. The FCA’s decision is provisional and Staley, who has previously said he “deeply regrets” his relationship with Epstein, can appeal at an ensuing tribunal. Barclays said that following the FCA’s decision, Staley was ineligible for, or would forfeit, bonuses and share awards totaling 17.8 million pounds (21.9 million). Staley has said that he had no contact with Epstein once he joined Barclays in December 2015. JP Morgan also reached a confidential settlement with Staley, who it had sued for allegedly concealing his personal activities with Epstein from the bank.

Persons: Jes Staley, Jeffrey Epstein, Staley, “, Epstein, JP Morgan, ”, Therese Chambers, “ Staley, Chambers, Staley’s, JP Morgan Chase Organizations: —, Barclays Bank, Authority, Barclays, FCA, JP, U.S . Virgin Locations: U.S, Caribbean

"In its response, Barclays relied on information supplied by Mr Staley. Mr Staley confirmed the letter was fair and accurate," the FCA said. "In reality, in emails between the two Mr Staley described Mr Epstein as one of his 'deepest' and 'most cherished' friends," it added. "The FCA has found that Mr Staley was aware of the risk that his association with Mr Epstein posed to his career," the watchdog added. "Mr Staley failed to do this.

Persons: Jes Staley, Jeffrey Epstein, Staley, Arnold, Porter, Epstein, Mr Staley, Mr Epstein, Therese Chambers, JP Morgan Chase JPM.N, JP Morgan, Huw Jones, Sinead Cruise, Kirstin Ridley, Iain Withers, Alexander Smith Organizations: Authority, Barclays, FCA, Bank of England, Barclays Board, U.S . Virgin, Thomson Locations: New York

But the coach of Maccabi Ra'anana believes continuing his team's tour against NBA clubs while his country is at war was the right decision. “We are the first team that is playing since the war started and nobody will break Israel, because we are a strong nation,” Orland said before the game. The team from the Israeli National League was playing the first of three games during its tour. The ensuing Israeli bombardment has killed more than 1,530 people in Gaza, according to authorities on both sides. Orland and team sponsor Jeffrey Rosen said one player had chosen to return home, though didn't specify a reason.

Persons: — Yehu Orland, Maccabi Ra'anana, ” Orland, Israel ”, Noa Kirel, Ra'anana, Eli Ginsberg, Orland's, Orland, Ginsberg, Eli . Forever, ”, Jeffrey Rosen, I’m Organizations: —, Maccabi, NBA, Israeli National League, Barclays Center, Nets, Saturday, Cleveland Cavaliers, Minnesota Timberwolves Locations: Israel, Brooklyn, York, Israeli, U.S, Gaza

☆ BoE says it supports FCA move to ban James Staley
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: 1 min

LONDON, Oct 12 (Reuters) - The Bank of England said it supported the decision by Britain's financial regulator, the FCA, fine and ban James "Jes" Staley, the former chief executive of Barclays (BARC.L). "It is imperative that senior managers act with integrity and are open and cooperative with the regulators," the BoE said in a statement. Reporting by William James, editing by Sarah YoungOur Standards: The Thomson Reuters Trust Principles.

Persons: James, Jes, Staley, BoE, William James, Sarah Young Organizations: Bank of England, FCA, Barclays, Thomson

☆ Stocks making the biggest moves midday: Walgreens, Birkenstock, Ford, Spotify and more
▼ + stars: | 2023-10-12 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines in midday trading. Walgreens Boots Alliance — Walgreens Boots Alliance popped 7% in midday trading after sharing that it has made progress in its cost-cutting program. The German shoe brand fell more than 12% in its stock market debut Wednesday. First Solar — The solar stock slipped 1.4%. Fastenal posted third-quarter earnings of 52 cents per share, while analysts polled by FactSet anticipated 50 cents per share.

Persons: Morgan Stanley, it's, Fastenal, FactSet, — CNBC's Brian Evans, Lisa Kailai Han, Hakyung Kim, Samantha Subin, Darla Mercado Organizations: Walgreens, Walgreens Boots Alliance, LSEG, Spotify Technology, Bank of America, Microsoft, RBC, Barclays, Ford, United Auto Workers, Ford's, Revenue, Food, Commercial Workers International Union, Hormel Locations: Ford's Kentucky

☆ Interest rates take center stage with banks set to report quarterly results
▼ + stars: | 2023-10-12 | by ( Morgan Chittum | ) www.cnbc.com time to read: +6 min

Like other big banks, Wells Fargo and Morgan Stanley have been caught in the throes of the central bank's interest-rate-hiking campaign over the past 18 months. Wells Fargo and Morgan Stanley are down on the year amid the difficult backdrop, falling 4.3% and 8.6%, respectively. Wells Fargo is set to report third-quarter results before the opening bell on Friday, while Morgan Stanley is slated to post results next Wednesday. Out of the major U.S. banks, Wells Fargo has the largest exposure to the ailing commercial real estate market, an industry troubled by higher rates and near-record office vacancy levels. Morgan Stanley MS YTD mountain Morgan Stanley (MS) year-to-date performance For the three months ended Sept. 30, analysts expect Morgan Stanley to report revenue of $13.2 billion, up from $12.9 billion during the same period last year, according to Refinitiv.

Persons: Morgan Stanley, Jim Cramer, Wells Fargo, Wells, Charlie Scharf, Mike Santomassimo, Scharf, Jim, Morgan, –, James Gorman, we'll, Jim Cramer's, JPMorgan, Goldman Sachs Organizations: Wells, Silicon Valley Bank, Barclays, CNBC, Citibank, JPMorgan Chase, Bank of America, Reuters Locations: Wells Fargo, Silicon, Wells, U.S

"Mr Staley failed to do this. "In its response, Barclays relied on information supplied by Mr Staley. "In reality, in emails between the two Mr Staley described Mr Epstein as one of his 'deepest' and 'most cherished' friends," it added. "The FCA has found that Mr Staley was aware of the risk that his association with Mr Epstein posed to his career," it added. In an email titled 'Friendship' in October 2015, Staley wrote: "You never wavered in our friendship these last three years.

Persons: Jes Staley, Jeffrey Epstein, Mr Staley, Epstein, Staley, Arnold, Porter, Mr Epstein, Therese Chambers, JP Morgan Chase JPM.N, JP Morgan, Huw Jones, Sinead Cruise, Kirstin Ridley, Iain Withers, Alexander Smith Organizations: Ex, Barclays, Authority, FCA, Barclays Board, U.S . Virgin, Thomson Locations: New York

☆ Here are Thursday's biggest analyst calls: Target, First Solar, Ford, Netflix, Amazon, Spotify, Exxon Mobil and more
▼ + stars: | 2023-10-12 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Goldman Sachs reiterates Amazon as buy Goldman Sachs said it's standing by its buy rating ahead of earnings later this month. Citi reiterates Netflix as buy Citi said it's standing by its buy rating on the stock heading into earnings next week. Bank of America reiterates Ford as buy Bank of America said its standing by its buy rating on the stock despite the strike at Ford's largest truck plant. Bank of America upgrades Target to buy from neutral Bank of America said it sees an attractive risk/reward for Target shares. " RBC downgrades ResMed to sector perform from outperform RBC said in its downgrade of ResMed that it sees slowing earnings growth.

Persons: Warby Parker, BTIG, Goldman Sachs, Morgan Stanley, it's, JPMorgan, Bernstein, underperform Bernstein, CLX, Ford, Wells, Wells Fargo, Truist, it's bullish, D.A, Davidson Organizations: Citi, Netflix, 4Q23, Barclays, Spotify, Taiwan Semiconductor, JPMorgan, RBC, BMO, Bank of America, Ford's, UAW, Detroit, underperform Bank of America, 3Q, Microsoft, " Bank of America, of America, Exxon Mobil, Exxon, Pioneer, Seaport, Mizuho Locations: 2H24

☆ Barclays upgrades this solar stock that's trading at a discount to peers
▼ + stars: | 2023-10-12 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Investors should consider taking a look at First Solar , according to Barclays. Analyst Christine Cho upgraded the solar panel maker to overweight from an equal weight rating, saying in a Thursday note that the stock's valuation offers an attractive opportunity for investors. Cho added that shares trade at a significant discount to competitors when looking at 2025 price to earnings. First Solar shares have slumped 6% this month and sit just about 1% higher for the year. According to Cho, investors are penalizing First Solar for a handful of "overblown" risks.

Persons: Christine Cho, Cho, Michael Bloom Organizations: Barclays, Solar, IRA, Bank of America

☆ Former Barclays CEO Staley fined and banned by UK regulator over Epstein links
▼ + stars: | 2023-10-12 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

Jes Staley, former CEO of Barclays, arrives at the offices of Boies Schiller Flexner LLP in New York on June 11, 2023. LONDON — Former Barclays CEO Jes Staley on Thursday was fined and banned from holding any position of influence in the U.K. financial services industry for misleading the regulator over his relationship with sex offender Jeffrey Epstein. "Mr Staley is an experienced industry professional and held a prominent position within financial services. Emails subsequently emerged in which Staley described Epstein as one of his "deepest" and "most cherished" friends, the FCA confirmed. Barclays' letter also claimed Staley had ceased contact with Epstein long before he joined the bank in December 2015.

Persons: Jes Staley, Boies Schiller Flexner, Jeffrey Epstein, Staley, Epstein, Therese Chambers, Mr Staley, Mr Epstein, Chambers Organizations: Barclays, LONDON, Financial, Authority, Staley, FCA, Barclays Board, Manhattan's Metropolitan Correctional Center Locations: New York, LONDON —, Manhattan's

The trial for the Cantlay/Harper case, which was set to begin on Nov. 13, will now be dismissed, GSK said, adding it had also settled three remaining breast cancer cases in California related to the same drug. The latest settlements in California were related to cases due to go to trial in November, with a further set scheduled to begin in Delaware courts in January, GSK said. The company still faces about 79,000 cases related to Zantac in the United States, with 73,000 of them in Delaware. GSK did not admit any liability and said it would vigorously defend itself in any other Zantac cases. In June, GSK agreed to settle a similar lawsuit in California.

Persons: Harper, Brendan McDermid, Morgan, Jeffries, Zantac, Boehringer Ingelheim, Eva Mathews, Maggie Fick, Nivedita Bhattacharjee, Bernadette Baum, Louise Heavens, Emelia Organizations: pare, Citi, GSK, Reuters, REUTERS, Barclays, Pfizer, Sanofi, FDA, Thomson Locations: California, British, Delaware, United States, Arexvy, California . California, Bengaluru, London

Search resuls for: "Barclays"

25 mentions found