and that is what barclays bank is being accused of. ding group has already been charged. would you explain the significance? some may remember that barclays was charged injune of remember that barclays was charged in june of last year. that was the holding company. this time it is the bank itself. that's right. the holding company was charged last summer. holding company was charged last summer. along with four executives. including sirjohn vardy, the former chief executive. there are a number of charges that were made on that occasion, particularly in relation to the holding company, the specific charge of unlawful financial assistance is the one that is being put in addition against barclays bank, the actual banking operation. there is the possibility of very large fines. barclays has been trying to defend itself. thanks very much. alibaba's entertainment arm has signed a deal with walt disney to show thousands of its animations on its china streaming service. the deal comes after disney shut down its own streaming service in 2016. mo

the decision to charge barclays bank as well is significant because it holds the banking licence that1st century fox has put forward plans to ensure the independence of sky news as it seeks to overcome competition issues surrounding its proposed takeover of sky. including keeping fox running for at least five years and establishing a fully independent board for the channel. discount chain aldi has taken the top spot in a supermarket satisfaction survey. the consumer association, "which? questioned nearly 7000 shoppers. waitrose , previously the number one in the annual survey , came fourth. the number of us shopping on the high street and in shopping centres last month was down but more people went to retail parks. that's according to the latest figures from the british retail consortium. they found there were fewer empty shops, thanks to temporary christmas pop—ups. but they added a note of caution — that planning applications for new shops have fallen for the ninth year in a row. joining us now is rachel lund, head of retail insight & analytics at the british retail consortium. mixe

the uk's serious fraud office has charged barclays bank with "unlawful financial assistance" related charge barclays bank as well is significant because it holds the banking licence that allows it to operate in different countries. discount chain aldi has taken the top spot in a supermarket satisfaction survey. the consumer association, which, questioned nearly 7,000 shoppers. waitrose, previously the number one in the annual survey, came fourth. only 2% of parents have taken advantage of shared parental leave. around 285, 000 couples are eligible every year for it, whereby parents can share 50 weeks of leave and 37 weeks of pay after they have a baby, but take—up has been low. the uk's serious fraud office has charged barclays bank with "unlawful financial assistance" related to billions of pounds raised from qatari investors in 2008. the move to charge barclays bank as well as its holding company is significant because it holds the banking licence that allows it to operate in different countries. so, if barclays was found guilty, it could lose that crucial licence. joining us now i

barclays has reported a 10% rise in annual pre—tax profit to $4.9 billion. the banktion in costs over the year and the rise in the value of the dollar and euro against the pound. todayis today is one of those very busy days as so many companies have come out with the latest results and announcement. among them, anglo—american with profits doubling, no surprise there. it's a similar story with commodity prices going up. heathrow reporting results, a fall in profits, and reve nu es we re results, a fall in profits, and revenues were something like $2.9 billion up, by 3% but pre—tax profit was down. the number of customers going through the airport group to 78 million. that is a lot of people. if you go to heathrow, you know about that. the fourth quarter earnings out in four —— full swing today. markets have fallen in asia, following similar moves in the us, after the federal reserve gave an upbeat view of the economy, fuelling fears of more interest rate rises. first, let's go to our asia business hub in singapore where leisha sa ntorelli is following the story. nice

starting with barclays bank, because it has been, really, there has been a backlash after profits wereing profit but they had a number of special things they had a number of special things they needed to make provisions for in their accounts. there was this familiar thing that we have with the banks of conduct problems from the past, particularly associated in the case of ba rclays past, particularly associated in the case of barclays bank with payment protection insurance. that accounted for more than half of a £1.2 billion amount they have to set aside in their accounts. you also have to think about the investigation into the capital raising exercise they have with qatar. some of the senior chief executives have been charged with various offences associated with that. there has been a big provision barclays had to make for getting out of their africa operation. other british banks have got their own issues with conduct, rbs has made a full year profit, sighs of relief all round for that i suppose, but they still have to worry about what will happen to them in the united states in rel

it has charged barclays bank with unlawful financial assistance. idea of "collective" switching. that's when large numbers of people swap supplier in one go — which should give them all a better deal. we havejust had one huge budget fuss in the united states. and now there is another one? well, exactly, no soonerwas the last budget bill signed off — just at the end of last week — then president trump reveals his budget proposals for 2019. one of the main points is the $1.5 trillion he wants to spend on fixing infrastructure such as crumbling roads, bridges and airports. and what does he want to build? yes — a wall with mexico. so where's all the money going to come from? donald trump says the federal govt will stump up $200bn to do all this. will stump up $200 billion to do all this. the rest? well, that will come from city and state governments and the private sector. the president tweeted in the last couple of hours "this will be a big week for infrastructure. after so stupidly spending $7 trillion in the middle east, it is now time to start inve

the serious fraud office is to prosecute barclays bank over a loan of more than £2 billion it gave tol crisis. investigators claim the money was used to buy shares in the bank, which amounts to unlawful financial assistance. barclays' parent company was charged with the same offence last year and both firms will contest the allegations. from tomorrow british tourists will be able to resume package holidays to tunisia for the first time since a terror attack claimed the lives of 38 people at a beach resort in 2015. the first fully—booked flights from manchester and birmingham will be operated by thomas cook. 0ur security correspondent frank gardner has just returned from tunisia with this exclusive report. tunis by night, and a national guard unit prepares to raid a suspected terrorist hideout. since two devastating attacks in 2015, this country has found to stamp out terrorism and make tunisia safe for tourists. well, they've just gone into a house here. we can hear some shouts. we're in a tiny little backstreet, and they're looking for members of an isis cell that has been in libya,

s serious fraud office is charged barclay's bank with providing unlawful financial assistance to cattery investors during the banking crisis a decade ago in two thousand and eight to avoid a bailout from the u.k. government loggers borrowed more than sixteen billion dollars from cattery backers and other investors under the deal barclays loaned three billion dollars back to cutter holdings yes f o says that loan was i used either indirectly or directly to buy shares in barclays says this amounts to unlawful financial assistance the same charges were made against the bank's holding company last june for former senior executives have also been charged with fraud at the bank says it intends to defend itself against those charges we're joined now by robert roche is a barrister specializing in business crime and frauds of isn't quite kind of conflict complicated so for the layman what exactly is barclays done here and why is it deemed to be illegal well i think it's really it sounds very computer savvy quite simple ten years ago our financial system almost went under the british government ha

with fraud the bank says it intends to defend itself against the charges earlier we spoke to robert rhodes who is a barrister specializing in business crime and fraud he described why barclays had to take such action and how it may affect the bank's future. ten years ago our financial system almost went under the british government had to invest over one trillion pounds into banks including something like forty five billion pounds into r.p.'s and the taxpayers salut over twenty billion pounds barker's saloon of the big banks managed to avoid going to the government for assistance and it had its own fund raising methods in two thousand and eight it raised twelve billion pounds most of it through katter and little is generally in october two thousand and eight barclays lent catarrh holdings it's a three billion dollars billions of pounds worth of shares were bought and parties was to paid character holdings three hundred thirty two million pounds for advisory services more the government is saying is or there's a first say look this was unlawful financial assistance because this money was went round in a circle simply to prop up its share price which is illegal is unlikely to

the serious fraud office is to prosecute barclays bank over a loan of more than £2 billion it gave toar during the financial crisis. investigators claim the money was used to buy shares in the bank, which amounts to unlawful financial assistance. barclays' parent company was charged with the same offence last year and both firms will contest the allegations. in south africa, leaders of the governing anc party are meeting to decide the fate of president jacob zuma. mr zuma has been resisting calls to stand down, but over the weekend the party's new leader cyril ramaphosa said the question of his position would be finalised today. 0ur africa editor fergal keane is in johannseburg. we've been here quite a few times in the last few weeks but is there any sign ofa the last few weeks but is there any sign of a final decision as to president zuma's fate? not yet but there will be. i wish i could tell you when. they've been talking for over six hours. that's not unusual with the anc and especially the national executive committee, which has 90 members and everyone is entitled to their say. th

serious ford office has charged barclay's bank with providing unlawful financial assistance to qatari investors or in the banking crisis a decade ago in two thousand and eight to avoid a bailout from the u.k. government barclays borrowed more than sixteen billion dollars from qatari backers and other investors under the deal barclays loan three billion dollars back to cattle holdings the british government says that alone was used either directly or indirectly to buy shares in barclays it says this amounts to unlawful financial assistance the same charges are made against the bank's holding company last june for former senior executives have also been charged with fraud the bank says it intends to defend itself against the charges but robert rhodes a barrister specializing in business crime and fraud he explained why barclays took this action ten years ago our financial system almost went under the british government had to invest over one trillion pounds into banks including something like forty five billion pounds into r.b.s. and the taxpayers salut over twenty billion pounds back i

barclays has said the serious fraud office has brought charges against its barclays bank operating in,008 fundraising -- a 2008 fundraising. they intend to defend themselves against charges. the london-based lender said in a statement on monday. we are joined now for more on the story. we thought that barclays had already faced charges on this. explain the second leg to what we are seeing here. >> in june last year, the serious fraud office in the u.k. charged the holding company and four of its former executives, including the former ceo. so what has come up now is that the operating company here is being charged as well. we're not quite sure how that will affect barclays, because it depends very much on how the -- alles, but barclays banks receive their operating licenses based on the operating units, so that is why people really care about what's happening to the operating company. guy: investors don't seem overly concerned. the only reason i say that is because the stock is trading higher. they may be completely uncorrelated. >> we don't know. it does look like the market is up, o

alone for two hundred losing four tenths of one percent barclays bank shot so it shares rise nearly four and a half percent side weaker than expected earnings. the british economy grew less than initially estimated at the end of last year. you his office foror national statistics has revised its data for the fourth quarter from point five two point four percent. drag down gp expansion for the years one point seven percent as the weakest growth since two thousand and twelve. new figures also show that household spending slowed to the lowest level in five years also one point eight percent growth there as consumers face higher prices and limited wage for. on some days of the business headlines now. the uk's largest airport is increasing pressure on lawmakers to allow to build a third runway. either as chief executive said it needed to expand as soon as possible. remain competitive in europee uses the budgett for the project is reasonable. separately and other london area airports stance it. to expand and serve. passengers per year. for his promoted to head it's lincoln brands to lead its n

barclays bank has revealed one off costs prompted it to lose 1.9bn pounds last year. arclays was a key lender. but when these one—off factors are stripped out, the bank's underlying profits actually rose to £3.5 billion, up 10%. passenger numbers are up and expansion must be prepared for take off — that's the announcement from europes biggest airport this morning as heathrow posted full year figures. the number of customers passing through the airport grew 3.1% to 78 million. and chief executivejohn holland—kaye told the government to "crack on" with heathrow expansion calling for a vote in parliament before the summer. centrica, which owns british gas, is cutting 4,000 jobs, after what its chief executive called a "weak" end to 2017. iain conn said plans for a price cap was one reason for the job losses, just over half of which will be in the uk. the energy supplier, which also operates in north america and ireland, said group profits fell 17% to £1.25 billion. british gas lost 750,000 domestic customers in 2017. that a fall of about 9%, the company now has just under

barclays bank has been fined by the serious fraud office in relation to a £2.2 billion loan, providedhe bank has been accused of unlawful financial assistance, which is banned in the uk. its parent company barclays was charged with the same a government report suggests politicians and industry leaders have exaggerated the potential of fracking for gas in the uk. the industry said a fracking boom would see 4,000 wells drilled by 2032. but a newly—released document predicts fewer than 200 wells will be constructed in the next seven years. british tourists will be able to resume package holidays to tunisia from tomorrow for the first time since a terror attack claimed the lives of 38 people at a beach resort in 2015. the first fully booked flights from manchester and birmingham will be operated by thomas cook. 0ur security correspondent frank gardner has just returned from tunisia, with this exclusive report. tunis by night, and a national guard unit prepares to raid a suspected terrorist hideout. since two devastating attacks in 2015, this country has found —— vowed to stamp out terrori

. >>> barclays bank has said its bank operations has been charged for unlawful financial assistance thisthe same charge brought against the parent company in relation to capital raisings in 2008 both entities say they will defend themselves against the charges will relate to $3 billion loans. >>> credit suisse has been hit by a lawsuit over the writedowns it took in 2015 and 2016 that's according to the paper. the bank is said it's without merit. they'll be reporting earnings later this week. >>> rbs with the uk and the financial crisis reported. it's one of the last to result in the deal. the finance is expected to be in the region of $7 billion we're getting a little parity in what that rbs is going to be >>> one of the top stories today, the white house advisers say donald trump has no intention of replacing this chief of staff john kelly. kelly has come under fire for the most recent abuse allegations against trump administration aides and meanwhile, the trump administration officials say they may release a democratic memo refuting allegations of bias into its investigation into russ

anna: widening their investigation and including barclays bank plc, which holds the banking licenses.ything you can do to limit the risk to that part of the business, as you wait for the legal process to take its course? ? can continue, we to run the bank as we are running it. stock went up post that charge. credit spreads are tighter, actually. and it's something that happened 10 years ago. we will let the legal system take its due course. we think barclays is fine. anna: in terms of u.s. versus u.k., clearly you have a big business transatlantic. are you looking to move any businesses to the united states, in anticipation of a lighter regulatory environment? jes: the u.s. is about 40% of revenues right now, so we really are a transatlantic bank. obviously the change in the tax rate has a benefit for barclays. we are very enthusiastic by what we see in our u.s. consumer business. the relationship we have with american airlines, with jetblue, the one we launched with uber that has enormous possibility. we like the consumer footprint we have in the u.s., and our corporate and investmen

the serioushas said fraud office has brought charges against its barclays bank operating unit in a cased to a 2008 fundraising at the peak of the financial crisis. we thought barclays had faced charges on this. explain the second leg we are seeing here. >> in june, the serious fraud office in the u.k. charge the holding company and four of its top executives, including the former ceo, so what has come up now is that the operating company here is being charged as well. all banks receive their operating licenses based off the operating units, so that is why people really care about what is happening to the operating company here. , comcastthe fight mulling another bid after its initial offer was turned down for a deal with disney. >> if comcast wants to come back him a they will be a credible bidder. i think rupert murdoch and 20th century fox prefer the disney deal. one, they believe it has less regulatory risks than a comcast deal. comcast is not the most well loved company and washington, d.c. i think rupert murdoch prefer to own disney shares. his family will be the largest owner of t

going to be expensive three hundred billion dollars to cover the united states is an estimate by barclays bank the majority of countries won't be able to afford five g. widening the global digital divide millions of people already don't have reliable access to the internet as a result and knocked out of the digital economy jobs market so while this new wave of technology promise is a better future it doesn't promise in the future charlie and al jazeera bustling. right after a quick check of the headlines here on al-jazeera france has appealed to russia to ensure that aid is allowed into the syrian rebel held eastern ghouta the daily truce came into effect earlier on tuesday but both sides are blaming each other for violations well we spoke earlier to dean he lives in duma that's inside eastern ghouta and he described the situation there. there was a fighting. we hear that. buildings this firing we expect. maybe. even that there is mortals in that. saudi arabia's king solomon has replaced his top military commanders in a shake up of the kingdom defense ministry. no official reason has been give

going to be expensive three hundred billion dollars to cover the united states is an estimate by barclays bank the majority of countries won't be able to afford five g. widening the global digital divide millions of people already don't have reliable access to the internet and as a result the knocked out of the digital economy jobs market so while this new wave of technology promise is a better future it doesn't promise an equal future charlie rangel al-jazeera bustling. i can never take you through the top stories a russian lead poisoned fighting in syria's eastern go to is holding so far the five hour truce came into effect just over an hour ago in the rebel held district russia says people will be able to leave through an evacuation kodos which critics dismiss as force displacement zana has more from beirut. eastern is quiet a very different picture really than what we've seen over the past ten days relentless bombardment heavy artillery shelling airstrikes more than five hundred fifty people killed thousands injured so the people of course will welcome this but at the same time they are cr

>> yes barclays is particularly well placed the difference is in the ratings with the bank like barclays, you're at much lower ratings than hsbc. rbs not quite so much. but much more to gain from those banks from that steepening, particularly in barclays >> looking ahead to tomorrow when lloyds reports, how much exposure do they have to the uk? is that potential danger for them >> i think for lloyds it is. it is profitable books, but as that unwinds it's more exposed to the challenger banks, and others taking part in the business it's also much more exposed to mortgages and consumer credit. and i think there may be more pressure on the uk, and i think lloyds has more to lose than other banks. >> we'll leave it there. colin mclean from svm asset management for more on hsbc's rut results,a online to cnbc.com >>> deutsche bank reportedly plans to cut up to 500 investment banking and trading jobs ahead of its bonus payouts. the bank has been under pressure to cut costs as it works through a five-year turnaround plan. some high profile bankers in new york and london are on the list of cuts. >

been charged with fraud the bank says it intends to defend itself against the charges robert rhodes is a barrister specializing in business crime and fraud voters about why barclays had to take such action and how it could impact the bank's future and that of its shareholders. ten years ago our financial system almost went under the british government had to invest over one trillion pounds into banks including something like forty five billion pounds into r.b.s. and the taxpayers salut over twenty billion pounds back is the learn of the big banks managed to avoid going to the government for assistance and it had its own fund raising methods in two thousand and eight it raised twelve billion pounds most of it through katter and little is generally in october two thousand and eight barclays lent catarrh holdings it's a three billion dollars billions of pounds worth of shares were bought and barclays was a paid character holdings three hundred thirty two million pounds for advisory services what the government is saying is or there's a first say look this was an awful financial assistance because this money was went round in a circle simply to prop up its own share

. ♪ >> barclays has said the serious fraud office, the sfo, has brought charges against its barclays banknit in a case linked to a 2008 fundraising at the peak of the financial crisis. we thought barclays had faced charges on this. explain this second leg we are seeing here. >> in june last year, the serious fraud office in the u.k. charged the holding company and four of its top executives, former executives, including the former chief executive officer. so what has come up now is that the operating company here is being charged as well. all banks receive their operating licenses based on the operating units, so that is why people really care about what is happening to the operating company here. >> on to the fight for fox now. comcast mulling another bid after its initial offer was turned down for a deal with disney. >> if comcast doesn't want to come back they will be a credible bidder. they have a tremendous track record, tremendous support on the street. i think rupert murdoch and 20th century fox prefer the disney deal for two reasons. one, they believe it has less regulatory risks

bank. barclays says it will defend the charges.nd local residents were asked to leave the area. the bomb was discovered by divers in the thames. police hope to give the all clear tomorrow. kensington palace has announced more details of the wedding of prince harry and meghan markle at windsor castle. the service —— in st george's chapel —— will begin at midday on may the 19th —— avoiding a clash with the fa cup final. 0ur royal correspondent nicholas witchell has more details. they are said to be closely involved in the arrangements for their wedding which is now a little less than 16 weeks away. it will take place in the historic setting of st george's chapel within windsor castle on saturday the 19th of may. the service will begin at midday with the dean when surface heating and the archbishop of canterbury conducting the manage itself. rumoured in the chapel is limited, space for around 800 guests. after the service is over at 1pm, the couple will set off in a carriage procession through the centre of windsor and then along the

going to be expensive three hundred billion dollars to cover the united states is an estimate by barclays bank the majority of countries won't be able to afford five g. widening the global digital divide millions of people already don't have reliable access to the internet and as a result the knocks out of the digital economy jobs market so while this new wave of technology promise is a better future it doesn't promise an feature charlie answer al-jazeera bustling we're going to weather update next here on the news then teachers return to the size of the florida school mass shooting as police come under more criticism. of russia with love one of the country's most famous dance troupes makes its debut and cast. a city not exactly known for its snow and a country not renowned for its interest in winter sports is getting ready to host the next winter olympics. from the clear blue sky of the doha morning. to the french autumn breeze in the city of la. out of the court where there's telling a bit more active now in china whilst we're feeding moisture up and allowing the codas combusted tibetan plat

division, barclays international, at the uk retail bank women earne country and the economy needs to deal with that. it is imperative and assorted. this will be a story we won't be talking about in a couple of years' time, hopefully because it will have been fixed. and sent headlines of 4000 job cuts and profits down and yet the share prices rise, why do investors have confidence in them. markets look forward , confidence in them. markets look forward, not back. shares in centrica have been awful in the last two years. it is a reflection of what has gone on and the company. they've been backed into a corner, forced to make huge cuts to the business to survive. this is what they have come outwith business to survive. this is what they have come out with today and they have come out with today and the market is saying, at least that isa the market is saying, at least that is a credible plan for this business to survive. unfortunately for any utility business, they are in a difficult position, it is politically not acceptable for them to make the return

going to be expensive three hundred billion dollars to cover the united states the estimate by barclays bank the majority of countries won't be able to afford five g. widening the global digital divide millions of people already don't have reliable access to the internet as a result and knocks out of the digital economy jobs market so while this new wave of technology promise is a better future it doesn't promise in the future charlie i'm sure al jazeera bustling. norway's mark the tenth anniversary of the global seed vault by promising to spend thirteen million dollars upgrading it the facility has a security for the world seems now houses just under a million samples after receiving seventy thousand new crop varieties on monday reports. they call this the doomsday seed vault the name is apt it's designed to protect the world's food supply and on monday it marked its ten year anniversary with hidden away under the frozen island of norway it acts as a natural deep freeze and it's in need of an upgrade in two thousand and sixteen an unexpected saw in the permafrost meant to water into the fac

barclays bank has revealed one—off costs prompted it to lose £1.9 billion last year. when these one off factors are stripped out, the bank's underlying profits actually rose to £3.5 billion, up 10%. joining me now to talk about this is russ mould, investment director at aj bell really good to talk to you. interesting that these one—off costs are interesting that these one—off costs a re really interesting that these one—off costs are really the headline news at ba rclays, are really the headline news at barclays, taking are really the headline news at ba rclays, taking away are really the headline news at barclays, taking away from the fact that profits were up at the bank. but you can't get away from the huge effect that carillion has had on the lender. carillion is just effect that carillion has had on the lender. carillion isjust one of a series of loan repayments, if a big company goes bust there is a fair chance they have lent to it. hsbc is reportedly in the frame as well, so in that respect it would almost be a big surprise if barclays was not involved in some

barclays dividend plan. the stock rallies despite a full-year pretax profit miss as jeff staley tells cnbc why the bank has been able to raise shareholder payouts. >> as recognition of our confidence about where we are with capital and our ability to generate earnings we are more than doubles our planned dividend for 2018 versus 2017. >>> deutsche telekom investors sell down on a slight earnings miss despite the dividend hike >>> a better connection for bouygues >>> and the fed sparks a fresh bond market selloff with janet yellen's final minutes pointing to a more hawkish rate hike approach, amid an improved economic outlook >>> we are just getting the german ifo data out. expectations came in at 105.4 in february versus the consensus forecast of 11 110. -- 107.9 the business climate index came in at 115.4 versus a forecast of 117. all of the components of the ifo seemed to have dropped here. that's coming off very, very high levels back in january. we had high levels back in januariment ty men january. the manufacturing component rose to a new high. i'm curious to see where the capacity utilization number came

. >> this is with barclays, investment banking powerhouse.s been tiptoeing another business areas. he tried to replicate banking but didn't quite go according to plan. it's the turn of italy and southern europe. he seeing the opportunity to fund a business that has been the backbone of italian economy, which is bank lending to small-medium-sized companies. >> when you think about italy, you think about the struggles of the banking sector. set the scene force us: is this situation improving here for nonperforming loans in italy? >> i think what's interesting is the timing. for the last couple of years, the focus has been on that banks have built up. they've all been focusing on purchasing some of these bad debts, prices in the hope of being able to sell those and the assets behind them for profit. now, suddenly, as the economy starts to turn, investors are seeing the opportunity to make money by lending. it's a story that's different to the ones that focus on bad loans we have so far. >> we can imagine good companies there have helped credit,

imposed on the business of large investment banks and corporate banks so that some of this business has become pretty profitable barclays is another bank reporting its results this week it still gets to feel this in its investment banking r.b.s. the royal bank of scotland is still facing a huge fine in the united states for its mortgage selling and here in frankfurt this morning people are talking about deutsche bank which is reported or rumored to plan the layoff of more investment bankers investment bankers between two hundred fifty and five hundred investment bankers are said to have to go mostly in banks branches in london and new york we're talking about regulation conrad the e.u. is reported to be considering import tariffs on american goods including harley davidson motorbikes what's going on there. well the european union is getting prepared for the case that the united states impose import tariffs on european goods which the europeans would consider not in line with world trade regulation in this case the european union might impose import tariffs on american goods and services and that would make products like

banking reporter. good to see you as always. people are trading today on the outlook rather than the actual earnings last year for barclays, whichen't that great. they are looking at potential increase in dividend. bank buybacks have been dangled in front of them as well, which would improve. and increased volatility is boosting trading returns at the investment bank. nejra: how is the restructuring of the securities unit going at this point? stephen: there is still a lot of work to do. there was to compete with goldman sachs and jpmorgan, and they are not there yet. they pushed through all the restructuring of the toxic assets they didn't want anymore .nd hiving off businesses vonnie: the legacy issues continue to dog barclays. when will it be rid of them? when will it start to act ethically? when jeff for started at barclays, he said he wanted to get all of these losses out of the way as quickly as possible. the two big wins in the u.s. and u.k. are still hanging around, and of course he got himself embroiled in a personal scandal when he tried to uncover a whistleblower come up he hasn't done well on that front. also today ca

in a highly efficient and world class environment for the twenty first century meanwhile barclays the british bank headquartered in cannery wharf in london is cutting back and streamlining operations after a two thousand and seventeen significant earnings lost just reported barclays lost two hundred sixty seven million dollars last year in part due to the us tax law hit the losses despite a two percent increase in deposit barclay has been shedding its interest in africa and has recently taken other streamlining efforts in internal restructuring efforts according to c.e.o. jeff staley who said in a statement two thousand and eighteen will be the first year in five years that this bank begins with a clean operating model. and sticking in the u.k. a spokesperson for british prime minister to resign may has said that britain will be able to sign trade deals with other european union countries during the brics a transition period but leaders continue to contend and say that such trade deals with e.u. members must be agreed to by all of the twenty eight member nations making any such trade deals with th

banks just as it does to the likes of barclays, or ubs. s say it's a problem they're already well aware of and addressing moving towards a final conclusion the dollar pay discrepancy between men and women banks leads to faster change going forward, on that note fed chair jake powell and his views on them and said it was an issue for congress, not for the fed. guys. >> wilfred, how are some of these banks addressing this issue specifically like did barclays actually lay out its plan >> just said last week after they reported earnings that it was something that they had already been aware of. it was a broad issue in terms of that discrepancy between the number of employees from the male side and female side in senior positions they wouldn't set out specific targets, but he did say he was confident that men and women who are in similar roles are paid the same amount. i think if we look across corporate board rooms and all sectors in all countries that issue of the representation of women in senior roles is something they're all disappointed by

as a large asset holder, the international investment bank, barclays, projects the oil industry is poised to lose more than $22 million in revenue. the coal industry to lose $5.8 trillion and the gas industry to lose $5.5 trillion over the next 20 years. additionally, studies have shown screening fossil feed portfolios is financially feasible and a number of organizations have divest from fossil fuels and performed above the market average. therefore the financially responsible action is to divest now. second, divesting will not reach a fiduciary duty. it requires each member act with care, skill and caution a board member would exercise. divesting is the financially sound decision to make and the principles for responsible investing, this board approved in 2017 supported divesting it. requires the board members consider the detrimental impact fossil fuels will have on climate change which is already impacting our environment. therefore, a prudent board members would consider the environmental, social and financial harms associated with fossil fuels and support the investment. thank you.

up next, the pressure builds on barclays p we break down the new charge facing the bank.is bloomberg. ♪ ♪ this is "bloomberg markets." i'm vonnie quinn in new york. nejra: i'm nejra cehic. it is global banking news time. a new criminal charges over a controversial capital fundraising at the height of the financial crisis. let's bring in stephen morris, a banking reporter for bloomberg news. outline for us first what this new case is about. stephen: barclays was charged by the u.k. in exchange with a $3 billion loan a gave in the financial crisis. they were charged with fraud. what happened today is the operating company has been charged with all lawful financial assistance. we have a less serious charge, but at the operating level, that is where barclays holds its licenses to conduct business. the banking license could be threatened. nejra: is that the biggest implication here? stephen: we don't know how likely it is to happen. no british bank has ever been accused and found guilty of fraud before. regard test case in that . it would be an extreme step for authorities to

thank you very much >> derrick, thank you for joining me >>> switching focus, barclays shares are up pore than 4% despite the uk bankeporting a big drop in 2017 profits barclays says it lost 2$2.7 billion last year due in part to the u.s. tax overhaul and a weaker dollar. there were some bright spots barclays says its pretax profits rose 10%, customer deposits were up and it's raising its di dividend jeff staley said he is optimistic about the future. >> are a number of tailwinds during the next year and half we will be retiring a lot of debt interest rates are in a much better position than they were before we've closed noncore noncore was a significant drag on this bank in 2017 you take those things around taxes, noncore expenses, that's about 150 basis points of that 350. then we have costs cost guidance of 13.6 to 13.9 billion for 2019 we have great visibility on how to get to that number. this bank dropped its costs by 5 billion pounds over the last few years. we know how to do that all you're talking about to get to that number, you have to believe we can increase earnings by 125 basis points. >> staley also t