#barclays

#barclays

Samsung is looking to launch a credit card in the US, reports The Wall Street Journal. The card will be a partnership between Samsung and British bank Barclays and it will use Visa as the payment network. This is clearly intended to compete with the Apple Card that rival Apple offers. That one is backed by Goldman Sachs and Mastercard (though we hear that Goldman Sachs wants out).

Barclays has revealed a £110 million loss tied to the collapse of Tricolor, a US subprime auto lender accused of fraud - an event now seen as a major warning sign for the $3 trillion private credit market. The bank confirmed the impairment in its third-quarter results, which otherwise met expectations, showing pre-tax profits of £2.1 billion - down 7% year-on-year but broadly in line with analyst forecasts.

Over halfway through: In its H1 results in June Barclays highlighted the midpoint of its 3-year revamp and noted it had achieved over half (£17bn) of the c.£30bn planned UK risk weighted assets (RWAs) growth, half of the target income growth and realised two-thirds of the £2bn planned gross cost efficiency savings. Group income of £14.9bn was up 12% year-on-year, with group net interest income (NII) up 13% to £6.1bn.

Barclays sponsors big sporting events to cover its accountability in funding the war. I think Barclays has had a lot of reputational damage because it's complicit in Israel's genocide in Palestine.

Raimo Lenschow from Barclays has a Buy rating on Sprout Social with a target price of $26.00, suggesting growth potential from its current share price.

Finding a partner to support us in transforming our payment acceptance business... demonstrates clear execution of our three-year plan to become a simpler, better and more balanced bank.