john macfarlane is the new executive chairman at barclays. john farrow sought down with mr. lane. john: john, great to have you with us on bloomberg tv. a big headline saying that anthony jenkins is departing. we already stated that you needed a new skill set. the first question is, what are the skills you are looking for and how did you come about making that decision so quickly echo john mcfarland: -- john macfarlane: of course, we had the management crisis about three years ago when bob left, so anthony was given this terrible role, and he has come through that well. the company has stabilized. going forward, we have a very different agenda. if you look at the stock price where it is now, it is the same as it was six years ago. it has a 2 in front of the number instead of a bigger number. when we reinforced the strategy at the off-site meeting and considering the execution of that, we realized we needed someone who could turn it around. we need more revenue growth more productivity. we need a more agile beast. the company is very democratic. john: you mentioned a share pri

alix: barclays chairman john macfarlane is shaking up the bank after three months on the job. antony jenkins is out as ceo. he cut thousands of jobs and sold assets. but barclays said new leadership is needed for the overhaul. considering how we might bring forward the -- wegy, we realize it realized we needed a different person to do it, some of can turn things around. productivity, and a leaner, more agile beast. and much more personal accountability within the organization. alix: macfarlane will take over as executive chairman while they look for a new ceo and he's promising to make more cost cuts. scarlet: microsoft is wiping out the value of a business they just 14 months ago. they will eliminate up to 7800 employees and take a charge on unit.kia mobile phone about one third of those cuts will happen in europe where nokia is based. jpmorgan is settling state and federal investigations into credit card debt collections abuses. the bank had agreed to pay about $136 million and will also change it collection tactics. pursued theegedly wrong borrowers, seeking incorrect amoun

john macfarlane will become executive chairman while the bank looks for a new ceo. ill continue to cut costs and he spoke with bloomberg's jon ferro in london. macfarlane: we have the and anthonyrisis was given this terrible role to do, a very difficult job. he has really come through that quite well. the company was in a much better position and has stabilized. but going forward we have a very different agenda. ,f you look at the stock price you know, where it is now, it is the same as it was six years ago, the dividend yield has a two and hundred the number and instead of a bigger number, so something has to move in front of that. bringering how we might forward the execution of an exit strategy, we realized we needed a different person to do it. someone who could actually turn it around. we need more revenue growth, more productivity. we need a more agile beast. the company is very bureaucratic. jon: you mentioned the share price. board, ithave come on has gone up. he was fired, new secret. what was the reaction to that? he was very professional in the way that he

barclays chairman john macfarlane says he will step up the pace of his overhaul of the bank. macfarlane byard ceo antony jenkins earlier this month after growing frustrations over the pace of restructuring. investors and the markets seem to like that. matt: he apparently fired a couple of abs traders as well, so it will be interesting to watch. he wants to speed up his restructuring and it will be interesting at details rollout. back to twitter, on the conference call made by the twitter owned periscope cap, if you do not know it, it is just like you found something and broadcast it. interim ceo jack dorsey says twitter should have a bigger appeal. jack dorsey: as i have spent the last few weeks really considering what is in front of us and what the present status and the future, it is really around aligning our execution and service and making sure that we are communicating the service more. we are communicating that to a very broad base. we do think twitter and everything found within twitter has mainstream appeal. and not targeting particular demographics. matt: i wonder i

macfarlane. it went on for two years costing taxpayers $15,000 for work she never did. before the feds caught on and prosecuted her for fraud. >> we would like you to stop it. >> reporter: john, a high ranking epa official pretended to be a cia agent as a way to get permission for an extra paid day off each week. about 13 years passed before investigators discovered that he didn't work for the cia and he had burned taxpayers for hundreds of thousands of dollars in free vacation time. his work e-mails obtained by the news4 i-team show his cia scheme. he tells colleagues i'm off to points unstated. just leaving langley. allan williams investigating these cases for the office of the inspector general. >> this isn't as rare as we think it is? >> it's not rare. it's not rare. i like to say here at the epa i think it's just a fraction, a small percentage. but again, i don't know what i don't know. >> reporter: internal auditors obtained by if news4 i-team reveal more than 60 workers across the federal government have doctored their time sheets to sneak out of work while on the clock. this happened on federal agencies not just the epa but also at the pentagon. about half a dozen ca