Barclays Slashing Japan Fixed Income Jobs Amid Cost Pressures

Barclays Slashing Japan Fixed Income Jobs Amid Cost Pressures

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Business

University

Hard

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Barclays is experiencing its best day since 2017 despite a $2 billion charge for PPI insurance claims, part of a scandal costing the UK banking sector $65 billion. Analysts are concerned about potential impacts on dividends and buyback programs, but some remain optimistic. Barclays is also cutting costs globally, including staff reductions in Japan, to counter weaker investment bank profits. Despite recent gains, European banks are trading near all-time lows, contrasting with broader market highs.

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5 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What significant financial event is Barclays experiencing despite a large charge for PPI insurance claims?

Its best day since 2017

A suspension of its buyback program

A major drop in stock prices

Its worst day since 2017

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the total estimated cost for Barclays due to the PPI insurance scandal?

$100 billion

$2 billion

$14 billion

$65 billion

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the analysts' expectation regarding Barclays' dividend amidst the extra charge?

It will be suspended

It will be reduced

It will increase

It will remain intact

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What action is Barclays taking in Japan to manage costs?

Opening new branches

Expanding its workforce

Cutting staff in its fixed income unit

Increasing salaries

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How have European banks, including Barclays, been performing in the market compared to broader indexes?

Maintaining stable performance

Experiencing rapid growth

Trading close to all-time lows

Trading at all-time highs