Tag: Barclays

Banks heavily finance oil firms despite climate goals: study

LONDON, United Kingdom (AFP) – European banks, while pledging to tackle carbon emissions, are heavily financing companies involved in the expansion of oil and gas production, activist group ShareAction said on Monday. A total 25 lenders, led by HSBC, Barclays and BNP Paribas, last year provided fossil fuel groups with a total of $55 billion (48.5 billion euros), ShareAction said in a report. The activist group urged investors to use their shareholder rights to push […]

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Barclays to cut 12,000 jobs, pays bigger bonuses

(Reuters) – Barclays said it would axe up to 12,000 jobs this year even as it raised bonuses for investment bankers, prompting fury among politicians and unions who said it had not learned the lessons of the financial crisis. Britain’s third-biggest bank said up to 9 percent of employees could go, including 7,000 in Britain, as it tries to lower costs. The cuts are not concentrated in any one business area. It said it paid […]

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