ipath bloomberg precious met (JJP) Key Developments
Barclays Launches Mortgage Centre in Kenya
Feb 18 15
Barclays Plc has announced that it has launched a mortgage centre in Kenya. The bank has unveiled a mortgage centre in order to attract first time homebuyers. It is also offering a promotional interest rate of 11.9% for the next two months.
Blackstone Reportedly Makes An Offer For Serco
Feb 18 15
The Blackstone Group L.P. (NYSE:BX) has made a surprise offer to buy back Serco Group plc (LSE:SRP) (formerly Intelenet) as formal bids were fired last week for the asset put on the block, people familiar with the matter said. Blackstone and The Carlyle Group LP (NasdaqGS:CG) are said to be strong contenders even though other financial investors and strategic bidders like Sykes Enterprises, Incorporated (NasdaqGS:SYKE) and Teleperformance S.A. (ENXTPA:RCF) have fielded offers. Barclays PLC (LSE:BARC) could potentially partner with Blackstone to reclaim Intelenet, sources said. Serco, which has mandated Citigroup to run the sale process, is evaluating the offers currently.
Barclays Plc Fails to Win Dismissal of NY Dark Pool Lawsuit
Feb 13 15
The State Supreme Court in Manhattan on February 13, 2015 rejected Barclays Plc's effort to dismiss state Attorney General Eric Schneiderman's lawsuit accusing it of defrauding clients about high-speed trading in its private dark pool trading platform. The State Supreme Court in Manhattan said it was premature to dismiss Schneiderman's claim under the state's Martin Act, a powerful anti-fraud law. Traders are entitled to rely on material representations banks make about their dark pools. If such representations are untrue, the integrity of dark pools will be compromised and investor confidence in them will be shaken. But the court said Schneiderman still must show enough specifics about Barclays' dark pool to demonstrate the bank lied to clients and investors. Quoting from Schneiderman's complaint, Kornreich also said she would not transform the case into a battle over the legality of high-speed trading. Investors in the dark pool are highly sophisticated and, hence, no liability will be found simply on the basis of meaningless words, such as aggressive, predatory, and toxic. The court also dismissed a claim that Schneiderman brought under a separate state law. Schneiderman's lawsuit is among the highest-profile cases as regulators probe high-speed trading, which came under scrutiny in Michael Lewis' bestseller Flash Boys: A Wall Street Revolt. The case is Schneiderman v. Barclays Capital Inc. et al, New York State Supreme Court, New York County, No. 451391/2014.
Barclays PLC Launches New Community Banking Service in UK
Feb 11 15
Barclays PLC has launched new Community Banking service to provide access to branch services anywhere and at any time by summer 2015 in the UK. The technology will give Barclays colleagues secure access to services traditionally only available through the confines of a bricks and mortar branch. Alongside Barclays' extensive ATM network, the increasing popularity of mobile cheque imaging, as well as the rapid adoption of digital banking services, customers will now have the choice to carry out the majority of transactions at a time and place that suits them best.
Barclays PLC Appoints Jack Yee as Head of Blocks Origination for Asia Pacific
Feb 4 15
Barclays PLC has announced that it has named a head for its APAC blocks origination. The bank has name Jack Yee as head of blocks origination for Asia Pacific. Lee will be taking over a newly created position within the Investment Banking division at the bank.