Barclays puts the squeeze on Absa

Restructuring at Absa by the bank's global parent Barclays has seen the loss of senior managers and rattled the market.

Behind the shake-up at Absa

The shake-up in Absa’s upper echelons is a case of parent Barclays “micromanaging” the local operations and direct intervention, according to sources.

Absa falls in line with Barclays structure

Absa Group says it would merge its business and retail banking units, a similar move done by Barclays this year.

Bankers plot course as sovereign debt clouds loom

Europe's top banks are due to meet to share insights on whether the latest sovereign debt crisis squall could yet turn into a financial market storm.

Absa profit before tax down 19% in Q1

Absa's profit before tax decreased by 19% to R1,481-billion in the first quarter of 2011 from R1,832-billion in the first quarter of last year.

Ramos joins Barclays group executive committee

Absa group chief executive Maria Ramos has been appointed to the Barclays group executive committee with immediate effect.

Too hot to handle: how Lehman Brothers went down

For the next four weeks, the fear that any bank anywhere, no matter how big, could be at risk would stalk the markets.

To the victors, the spoils: a post-Lehman scorecard

For Barclays and Nomura, the collapse of Lehman Brothers was the opportunity of the lifetime -- a chance to grab a seat at banking's top table.

Watchdog fines Barclays for transaction inaccuracies

Barclays bank has been fined £2.45-million for "serious weaknesses" in systems and controls that led to inaccurate reporting of transactions.

Japan to rescue troubled companies

Japan plans to use public money to help the companies hardest hit by the global financial crisis.

Finance crisis claims 70 000 jobs in one day

Companies forecast almost 70 000 job cuts in a single day as the rampant crisis born in the banking sector struck workers across the globe.

Barclays to cut another 2 100 jobs

Barclays Plc said it is cutting more UK-based jobs, which is likely to take job losses at the British bank to 4 600 in the past week.

World markets lurch unsteadily to end of a mad October

World stock markets had mixed fortunes on Friday, with fearful investors groping for direction at the end of a mad month of wild volatility.

R30bn yanked from SA

The cost of offshore borrowing for SA has jumped by 50% in recent weeks while foreigners have withdrawn R30-billion from the country since last month.

UK bails out banks with £37bn

Britain bailed out three major banks with £37-billion on Monday as governments around Europe boosted confidence in the battered industry.

UK banks 'set to unveil bailout plans'

Major British banks are likely to announce their plans to recapitalise early on Monday.

US judge approves Lehman's asset sale to Barclays

A US bankruptcy judge has approved a revised version of British bank Barclays's deal to purchase the core US business of Lehman Brothers.

Morgan Stanley in talks as fear grips financials

Morgan Stanley topped the list of major financial firms scrambling to find a buyer on Thursday amid panicked stock and money markets.

AIG rescued by US Federal Reserve

Capping an extraordinary day in financial markets, US authorities pieced together an emergency $85-billion rescue of insurance company AIG.

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