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Barclays reassures shareholders

Barclays has told shareholders it is now looking to create the conditions in which its stock price can move ahead again.

Despite falling short of its 10% to 13% economic profit growth rate target set in 2004, the group sought to assure shareholders that it is well placed to manage financial risk.

The group made the pledge at its annual general meeting yesterday.

John Varley, group chief executive of Barclays, says: “It’s important not to lose sight of the fact that a good banking system is an indispensable part of a healthy modern economy. It would be bad for the world if we were to conclude that banks should stop taking risk.”

He adds: “Innovation and risk taking by the financial services industry has helped to create unprecedented economic growth in the world over the last 20 years. Managing financial risk is what banks do.”


Nationwide direct product under fire

Nationwide is the latest high street lender to come under fire for allegedly undercutting brokers.Peter Stokes, director of brokerage Davidson Deem, says the lender is providing a more attractive tracker deal direct than the one it offers via brokers.He says its exclusive three-year tracker at 0.74% above the base rate, available only to online customers […]

Artemis Investments’ Outlook for 2016

Political change and the ‘normalisation’ of interest rates mean 2016 is likely to be another interesting year. But what will it bring for equities – and bonds? Here, a number of Artemis’ managers share their views. Click here to read the full article


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