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January 24, 2014
Just a Minute
Barclays Forced to SellBarclays announced last night that it would be selling its Spanish retail banking and wealth management business to Caixabank, a Spanish financial services company. The UK banking giant admitted that the sale will generate an estimated loss of £500 million compared with the book value. Caixabank, Spain’s third largest lender, paid Barclays £633m in the deal. The bundle includes: 262 branches and 2,400 staff in retail banking, wealth and investment management and corporate banking. In addition, Caixabank will pick up 555,000 new clients.
EUR/USD Charts Lowest Since September 2013The Euro continues to fall as investors fret about the ongoing crisis in Ukraine and the effect it will have on European trade. Ukrainian President Petro Poroshenko said he was prepared for a "full-scale war" should Putin’s troop offensive continue into Ukraine. In defense of Ukraine, Europe and the United...
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