Barclays news stories on Newser

Wall Street Will Lose 10K Jobs

Kevin Spak — Tue, 11 Oct 2011 11:25:53 CDT

It looks like a lot of Wall Street denizens will be joining the ranks of the unemployed soon, New York’s state comptroller warns in a report released today, predicting that the securities industry will shed nearly 10,000 jobs by the end of 2012. The industry has already cut 4,...

Fed Dished $3T in Aid to Foreign Banks

Rob Quinn — Thu, 02 Dec 2010 06:50:00 CST

The beneficiaries of the Federal Reserve's $3.3 trillion in emergency programs during the financial crisis aren't names you'd expect to see: Foreign banks including UBS and Barclays ranked among the biggest borrowers under the Commercial Paper Funding Facility, sparking more debate over the central bank's role, Bloomberg reports. A...

Exec: Ax Teacher for 'Sleazeball' Banker Slam

Rob Quinn — Thu, 03 Dec 2009 02:36:12 CST

One of Wall Street's highest paid executives is pressing to have his son's teacher axed for insulting the banking world. Hugh McGee, who makes $25 million a year as Barclays' global head of investment banking, says the teacher told his son's 11th-grade history class last year that "all investment bankers...

New Recession Villain: Warren Buffett's Cell Phone

John Johnson — Fri, 18 Sep 2009 08:24:57 CDT

If Warren Buffett knew how to use his cell phone, the financial world might be in better shape, blogs Karen Tumulty of Time . Just before Lehman Brothers collapsed last year, a Barclays executive attempting to rescue the firm with an assist from Buffett left a message on the Oracle of...

Dow Up 115 on Manufacturing

Nick McMaster — Mon, 03 Aug 2009 15:11:21 CDT

Stocks rallied today on signs of a turnaround for US manufacturing, the Wall Street Journal reports. Oil rose $2.13, to $71.27 per barrel, its highest price in a month, and banks HSBC and Barclays reported strong quarterly earnings. The Dow closed up 114.95 to settle at 9,...

Stocks Flat After Big Rally

Kevin Spak — Tue, 02 Jun 2009 08:52:57 CDT

Stocks were essentially flat at today's open on the heels of yesterday’s huge rally. The Dow inched down 15 points, while the Nasdaq and S&P fell 0.5% and 0.3%, respectively. Commodity prices were backing off, though oil still hovered around $68 a barrel. Financials were mixed, with Barclays...

Banks Lead Asian Stock Rally

Jason Farago — Thu, 07 May 2009 04:01:34 CDT

The Nikkei stock average soared 4.6% today to close at a 6-month high, leading a rally across Asia. Banking stocks led advances as worries about the US financial system abated, with Mitsubishi UFJ jumping more than 15%. Markets in London, Paris and Frankfurt all opened in positive territory and...

Dow Tumbles 332, Below 8,000

Nick McMaster — Tue, 20 Jan 2009 15:21:59 CST

A spirit of optimism swept through America today as Barack Obama was sworn in—except on Wall Street, where financial trouble at home and in the UK sent the Dow below 8,000 for the first time since November, the Journal reports. The Dow fell 332.13 to close at...

Dow Gains 68 Despite Banks

Nick McMaster — Fri, 16 Jan 2009 15:29:42 CST

US stocks clawed back to gains today amid turmoil in the financial sector and volatile price swings stemming from the expiration of January options contracts, MarketWatch reports. Although 100 points off its open at midday, the Dow finished with a gain of 68.73, to 8,281.22. The Nasdaq...