Spending on credit and debit cards decreased last month, marking the first monthly decline since February 2021, according to the June statistics released by London-based Barclays bank.
Barclays
Thousands of British bank customers expressed frustration on social media after an IT glitch disrupted digital banking services during payday, leaving many unable to access accounts or process transactions.
Goldman Sachs and Barclays are reportedly vying to acquire General Motors' credit card business.
Barclays faces environmental criticism for financing Eni, an Italian oil company, a total of $4.4 billion to boost oil and gas production, which emits 7.5 million tonnes of carbon.
After a series of setbacks, UK's Serious Fraud Office will start the third trial on Libor rigging case. Five former bankers in Barclays will stand accused as conspirators.
It was agreed that Apollo Global Management is taking over Fresh Market Inc. Chairman and founder Ray Berry is not so pleased and is considering of making the company private where he and his son own 9.8% of shares. This would be Apollo's third largest acquisition that is worth more than a billion dollars.
Barclays, Credit Suisse and Evercore have acted as financial advisers to Apollo Education. Despite their advisory efforts, the institution has incurred a loss of $60.8 million during the last concluded fiscal quarter. Finally, Apollo Education has been compelled to go through acquisition for $1.1 billion.
Suffering from weakening global commodities for the past one year, Glencore has informed its investors about its plans to reduce debt by $10billion. Towards this debt reduction target, Glencore is planning to conclude two deals by the end of this year or early of next year. The Anglo-Swiss multinational commodities major has been facing rough conditions in the market.
Goldman Sachs is racing ahead of its rivals in the global investment banking segment by revenues and fees in mergers and acquisitions (M&As) activity. Goldman Sachs' performance in 2015 so far exceeded while its competitors are not even close to it. With a market share of 12.3 percent, Goldman Sachs recorded $2billion revenues till date, while JPMorgan and Morgan Stanley are left with less than nine percent market share in the M&A space. The mergers and acquisitions activity this year so far was a robust period for Goldman Sachs.
The US stocks turn attractive on lower PE ratios. The latest market crash might have eroded $2.1 trillion value in the market capitalization in the US stock markets, but equities are no more overpriced as price-to-earnings (PE) ratios turn attractive. According to ConvergEx, after the recent 10 percent drop in the US markets, no one can say that American stocks are expensive.
Durable goods orders were up two percent in July on month-on-month (m-o-M) basis giving wider scope for the US gross domestic production (GDP) to reach over 2.8 percent in the third quarter this year as latest research reports forecast.
Barclays Plc (BARC.L) is cutting about 150 staff from its investment bank as part of the British bank's attempt to cut costs and improve profitability in the business, a person familiar with the matter said.
A dozen of the largest Wall Street banks on Monday published detailed plans to show how they would shut down their business during a crisis without the help of taxpayer money, a crucial step to prevent being broken up by regulators.
When fears of a Greek default are mounting, stock markets are jittery at multi-year highs, and the world's biggest economy is preparing to hike interest rates, the idea of taking refuge in bank stocks might appear to be a hard sell.
Investment bank Stifel Financial Corp (SF.N) is in advanced negotiations to acquire Barclays Plc's (BARC.L) U.S wealth management unit, according to three people familiar with the situation.
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