Barclays to Quit Majority of Commodities Businesses

Posted by Michelle Howard
Tuesday, April 22, 2014

Barclays Plc said it is quitting the majority of its commodities businesses to join a retreat from the area by a number of banks as tougher regulations make it less profitable.

Barclays will exit from most of its metals, energy and agricultural trading but remain trading precious metals, some oil and gas instruments, and index products, the bank said on Tuesday. The smaller business will be focused on electronic execution, it said.

Barclays is expected to next month unveil a wider reduction in the size of its investment bank, as it attempts to cut costs and improvise profitability by axing areas that have been hardest hit by tougher regulations.

(Reporting by Steve Slater; Editing by Huw Jones)

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Cruise Ship Gets Within 298-miles of the N. Pole

Hapag-Lloyd Cruises say that their expedition ship 'Hanseatic' has set a new record for passenger ships in the Northeast Passage, when the 122.8-metre-long ship reached the northernmost point at 85°,

MNZ & AMSA Award McMurdo COSPAS-SARSAT Contract

McMurdo Group’s Techno-Sciences Inc. says it has been chosen by the Australia Maritime Safety Authority (AMSA) and Maritime New Zealand (MNZ) to deploy their next-generation

Panama Canal Infrastructure to be Valued by VRC

Leading provider of independent valuations, Valuation Research Corporation (VRC) says it has been engaged by the Panama Canal Authority to value the locks, dams,

Finance

Panama Canal Infrastructure to be Valued by VRC

Leading provider of independent valuations, Valuation Research Corporation (VRC) says it has been engaged by the Panama Canal Authority to value the locks, dams,

Box Ships on Slippery Containership Slope in Q2

"The reduced charters on the 'Box Queen', 'CMA CGM Marlin' and 'CMA CGM Kingfish' were the contributing factors to the 24% decline in our adjusted time charter revenues year over year,

Norwegian to Buy Prestige Cruises in $3b Deal

Norwegian Cruise Line Holdings Ltd (NCLH.O) said it would buy Prestige Cruises International Inc from its owner Apollo Global Management LLC (APO.N) in a $3 billion

Energy

Shell CEO: US Should Export Oil, Embrace Global Markets

The head of energy company Royal Dutch Shell said on Tuesday that U.S. policymakers should lift the crude oil export ban because allowing the shipments would make global energy system more stable.

Bureau Veritas Diversifies with MatthewsDaniel Acquisition

Bureau Veritas announced today that it has acquired MatthewsDaniel Ltd, a global provider of loss adjusting and risk assessment services for the offshore industry.

Fogal Retires from Zentech After 57 Years in O&G

Robert “Bob” “Sonny” Fogal, Jr., one of the icons in the offshore oil and gas industry, has decided to retire from front-line work as Zentech’s Director of Business Development.

News

USCG Cutter Eagle to Open for Tours in Yorktown

Coast Guard Cutter Eagle, America's tall ship and seagoing classroom for future officers in training, is scheduled to be open for tours Saturday at Coast Guard Training Center Yorktown.

30 Rosneft Subsidiaries in All-Russian Environmental Cleanup Day

Thirty Rosneft subsidiaries in most of the regions of the Company presence, from Sakhalin in the east to the Arkhangelsk Region in the west, took part in the

Newport International Boat Show Highlights

Newport Exhibition Group, owners and producers of the Newport International Boat Show, announced today activities and amenities for those planning to attend its 44th boat show season,

Logistics

Shell CEO: US Should Export Oil, Embrace Global Markets

The head of energy company Royal Dutch Shell said on Tuesday that U.S. policymakers should lift the crude oil export ban because allowing the shipments would make global energy system more stable.

Evergreen Upgrades its Intra-Asia Service Network

Evergreen Line announced it will partner with Mariana Express in launching a joint South China- East Malaysia (SEM) Service. The new initiative will give a boost

Logistical Scenario Analysis for Hydrodynamic Applications

To calculate the operability of the whole logistics chain, rather than only individual operations, MARIN has developed the hydrodynamic scenario analysis program ScenSim.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Pipelines Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1558 sec (6 req/sec)