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Barclays to axe tax arm and cut 2,000 jobs
by Daniel Grote on Feb 11, 2013 at 07:28
The tax division was last year ordered by the Treasury to repay £500 million after structuring two ‘aggressive’ loopholes to avoid paying tax.
Barclays chief executive Antony Jenkins (pictured) will describe its activities as ‘legal’ but ‘incompatible with our purpose’, pledging ‘a new approach for a new era of banking’.
The cull of around 2,000 jobs will represent a nearly 10% reduction in staff for the bank’s 23,000-strong investment banking division.
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iShares: Time to shatter the ETF myths
As result of industry changes - the retail distribution review - and a growing focus on cost-efficient solutions, we anticipate the number of investors using ETFs will rise significantly over the coming years.
But as with any newer product, especially in the financial world, various misconceptions about ETFs have perpetuated over the years and iShares is committed to addressing and ultimately dispelling these.
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by Alex Steger on Jun 18, 2013 at 11:49