As part of its efforts to expand business, Barclays PLC (BCS) is eyeing Societe Generale’s (SCGLY) U.K. private bank. Per a Reuters report, citing three people familiar with the matter, BCS is in the early stages of considering a bid.On Feb 20, BCS will announce a new group strategy (aimed at streamlining its business model and generating more sustainable returns for less risk), along with its full-year results.The bank’s move to bid for SocGen’s British private bank would complement the above-mentioned str ...

Barclays is said to be mulling the acquisition of SocGen's UK private bank, Kleinwort Hambros.  SocGen has initiated an auction process for its Kleinwort Hambros unit, as per Reuters sources. This is in addition to the sale of its Swiss private banking operations, signalling a potential shift in strategic direction. London-based Kleinwort Hambros had more than £12 billion in assets under management in 2022 and could be worth up to £700 million in a sale, as per Reuters. Lloyds, Rathbones, and Raymond James ...

Barclays (BCS) made a significant move in the U.K. retail banking space by announcing a deal to acquire Tesco's retail banking business for £600 million. This partnership with Tesco, the U.K's largest retailer, not only marks a key opportunity for BCS to further its retail banking ambitions but also signifies a new chapter in expanding its customer base and distribution channels.The acquisition includes Tesco-branded credit cards, unsecured personal loans and deposits, totaling approximately £8.3 billion in ...

Rivian Automotive Inc. has “leading technology,” according to Barclays analyst Dan Levy — but that may not be enough to help it withstand a challenging market. Levy previously thought Rivian’s RIVN, -1.14% standout product and technology meant the company had “three legs of demand,” with one for each of its products — the EDV commercial van, the R1T pickup truck and the R1S sport-utility vehicle. While he saw demand challenges for the first two last year, he thought R1S demand would hold up, but that’s ...

Rivian (NASDAQ:RIVN) stock is falling on Monday after the electric vehicle (EV) company’s shares were hit with a downgrade from Barclays analyst Dan Levy.That downgrade sees the Barclays analyst dropping RIVN stock from an “outperform” rating to an “equal weight” rating. That’s a more bearish stance compared to the analysts’ consensus rating of moderdate buy based on 22 opinions.In addition to that downgrade, Levy dropped the firm’s price target for RIVN stock from $16 per share to $9 per share. That’s a po ...

Barclays’ (BCS) inconsistent top-line performance is a major near-term headwind amid a challenging economic scenario. However, the bank’s restructuring initiatives continue to help manage operating expenses.Barclays has been witnessing volatility in both net interest income (NII) and net fee, commission and other income in the last few quarters, mainly on the back of a challenging operating backdrop.In 2021, NII declined, but net fee, commission and other income rose marginally. However, in 2022 and the fir ...

Barclays has entered into an agreement to acquire Tesco’s retail banking business, including its credit cards, unsecured personal loans, deposits and operating infrastructure.The acquisition of Tesco Bank will be carried out by Barclays UK, the companies said in a Friday (Feb. 9) press release.In addition, Barclays UK will enter into a long-term strategic partnership with Tesco Stores Limited for a period of 10 years, according to the release. Through this partnership, Barclays will offer financial services ...

Barclays PLC (LSE:BARC) has committed to ending financing for new oil and gas projects and said it will reign in spending on firms involved in expanding fossil fuel production. New finance for upstream oil and gas projects and related infrastructure will cease immediately, Barclays said in a statement on Friday. Financing for non-diversified energy firms will be curbed from 2025 if over 10% of their long-term expenditure is set aside for expanding oil and gas production, meanwhile.  “The scale of our busine ...

NEW YORK--(BUSINESS WIRE)--Barclays today announces the appointment of Na Wei as Global Head of Leveraged Finance, reporting to Travis Barnes and Tom Johnson, Global Co-Heads of Capital Markets at Barclays. Under Ms. Wei’s leadership of Barclays’ Leveraged Finance business in EMEA the firm achieved a top three ranking in 2023 according to Dealogic data, up from number seven in 2022. Ms. Wei has also been instrumental in materially increasing Barclays’ market share with the firm’s top twenty Financial Spo ...

There is a “clear opportunity for value creation” in Zegona Communications (LSE:ZEG)' acquisition of Vodafone Spain, reckon equities analysts at Barclays PLC (LSE:BARC). However, the ambitious, highly leveraged €5 billion deal, which was signed off by the European Commission this week, is not without its challenges. Yes, Vodafone Spain has a 17% grip on service revenues and significant shares in broadband and consumer mobile postpaid sectors, but its market influence has waned over the years. New entrants a ...