Barclays accelerates retreat from the high street

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Barclays was one the few western banks to blaze a trail into sub-Saharan Africa. Now it is preparing to stage a gradual retreat.

According to the Wall Street Journal, Barclays executives have concluded that being the majority owner of a sprawling African business no longer fits with the bank’s strategy.

The bank is said to be drawing up plans to sell some of its 62% stake in its Barclays Africa group, the publicly traded entity that houses most of its African business

The decision is part of…
READ MORE : http://www.africanews.com/2016/01/19/barclays-beats-retreats-in-africa

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One of the top banks in the world, Barclays is now in legal trouble. It has been sued in the US District Court in Manhattan.

#US #Barclays #Manhattan

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Barclays Plc says the bank will take a 450 million-pound ($591 million) hit and delay a share buyback after issuing almost double as many structured notes and exchange traded notes as it had registered for sale. Tom Metcalf reports on “Bloomberg Daybreak: Europe.”