2021-02-23 12:30:03| The Economic Times
Profit before tax from India increased to $1.02 billion in 2020 from $1 billion in 2019 even though the group net profit fell 30% to $6.01 billion due to higher provisions for loan losses post Covid 19.
2021-02-20 13:40:00| Fool.com Headlines
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2021-02-18 09:24:33| Guardian Unlimited Business - more business news
CEO Jes Staley paid 4m with dividends to restart as bank sets aside 4.8bn for possible surge in loan defaultsBarclays has paid its chief executive, Jes Staley, 4m and handed larger bonuses to its bankers despite a 30% drop in annual profits during the Covid crisis.Pre-tax profits fell to 3.1bn for 2020 from 4.4bn a year earlier, with earnings hit by a jump in bad debt provisions. The bank put aside a total of 4.8bn to cover a potential surge in loan defaults linked to the coronavirus outbreak, slightly lower than the 5bn that analysts had expected. Continue reading...
2021-02-18 08:59:31| Guardian Unlimited Business - more business news
Barclays beats forecasts while Moonpig enjoys Valentines Day sales surge; US jobless claims and housing starts in focus 7.54am GMT Rishi Sunaks March budget will be a fresh Covid rescue package that will defer plans for significant tax increases as the chancellor throws his weight behind a cautious approach to reopening the economy, government sources have confirmed. The UK chancellor will present his budget on 3 March. Related: Budget to provide fresh Covid rescue package as tax rises deferred 7.42am GMT Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.Barclays has resumed dividend payments as its 2020 profit dropped by 30% to 3.1bn. This was a better than expected result, as a strong performance by its investment banking division offset provisions against bad loans made because of the Covid-19 pandemic. The bank will pay a dividend of 1p a share for 2020 and embark on a share buyback of up to 700m.The update triggered chatter that Britain could ease up on some of its restrictions in the next few weeks, so that contributed to the wider view the global economy will recover from the pandemic in the months ahead.The minutes from last months Fed meeting were published last night and it showed the central bank is keen to have an accommodative policy to help assist the economy. It wasnt exactly new information but the message was that monetary policy is unlikely to change anytime soon as the economy still has a long way to go before the Fed reaches its targets. Continue reading...
2021-02-18 05:55:48| The Economic Times
As Covid-19 has left the economy and businesses battered and bruised, it would not be easy to figure out the companies that can lead in terms of profit growth over the next two years or so.