Barclays has frozen millions of pounds in bonus share awards made to former boss Jes Staley amid an investigation into his relationship with disgraced financier and convicted sex offender Jeffrey Epstein. The banking giant’s annual report revealed it has suspended all of Mr Staley’s unvested long-term bonus share awards pending the regulatory probe.It said almost 70% of these share awards granted since he was appointed in 2015 remain unvested.Mr Staley stepped down last November to contest findi

There is no suggestion that the 64-year-old Staley knew anything about Epstein's alleged crimes. Staley said he will contest regulators' preliminary conclusions, which were shared with him and the bank Friday.... “ It probably could have done it earlier.” The bank said Staley will get a 2.5 million pound($ 3.5 million) payout and receive other benefits for a year.... He also may be eligible to receive repatriation costs to the U.S. and could receive more cash....

Image source, Getty Images By Sam Gruet Business reporter, BBC News Barclays is cutting 900 UK jobs as it looks to reduce costs, the trade union Unite has said. The union said the" disgraceful" move in the lead-up to Christmas would boost the bank's" massive profits". Jobs will go across several back-office divisions, including compliance, finance, legal, policy, IT and risk, according to Unite. Barclays has not confirmed numbers, but said it was taking action to" simplify the business". Affecte

" I THOUGHT I KNEW HIM WELL" Staley dealt with Epstein during his long career at JPMorgan, where Epstein was a major private banking client until 2013.... A college dropout who styled himself as a brilliant financier, Epstein socialised in elite circles, including former and future U.S. presidents.... I’m sure with hindsight of what we all know now, I deeply regret having had any relationship with Jeffrey Epstein, ” he said at the time. Epstein’s links with prominent men have come back to haun

LONDON: British bank Barclays faces an estimated ￡450mil( US$ 592mil or RM2. 5bil) loss and regulatory scrutiny for exceeding a United States limit on sales of structured products, some of which have surged in popularity since Russia’s invasion of Ukraine. Barclays also said that it will have to delay a planned ￡1bil( RM5. 53bil) share buyback as of the loss, which it will have to incur as a result of buying back the securities in question at their original purchase price. Shares in Barclays clo

Image source, Getty Images Barclays is buying Tesco's retail banking operations in a deal worth ￡600m to the supermarket giant. Barclays is taking over Tesco Bank's credit cards, loans and savings accounts and has also agreed to market Tesco-branded banking services. Under the deal, about 2, 800 of Tesco's banking staff will transfer to Barclays. Tesco said customers did not need to take any action and it would contact them over the coming months. The supermarket has retained some of Tesco Bank'

Former Bank Of England Chief Mark Carney Backs Labour More Videos 0 seconds of 19 seconds Volume 90% Press shift question mark to access a list of keyboard shortcuts Keyboard Shortcuts EnabledDisabled Shortcuts Open/ Close/ or?... This may include adverts from us and 3rd parties based on our understanding.... ’ Kuenssberg demands to know what Labour will change Lee Anderson's defection shows Tory scaremongering on Reform UK isn't working....

Chancellor Rachel Reeves has been accused of' hiding' after the economy flatlined( Image: Getty) Chancellor Rachel Reeves has been slammed by critics and accused of “ going into hiding ” after official figures revealed that the UK economy had ground to a halt under the weight of her tax hikes. According to the figures, the country’s output flatlined in July, prompting many business leaders to hit out at the Government and warn that it “ cannot tax its way to growth ”.... Article continues below