Business World

Saturday 24 February 2018

Barclays' credit ratings under threat

Diamond is fighting to save a career built on inspiring leadership and aggressive competition after regulators exposed a market rigging scandal on his watch. Photo: Reuters
Diamond is fighting to save a career built on inspiring leadership and aggressive competition after regulators exposed a market rigging scandal on his watch. Photo: Reuters

BARCLAYS Plc's credit ratings are under threat after its top three executives quit and lawmakers prepared to open an inquiry into the Libor-rate rigging scandal. Moody's Investors Service cut the outlook on the London-based lender's standalone bank financial strength to negative from stable. Standard & Poor's followed, lowering the long-term rating outlook to negative.

Aviva set to exit 16 non-core segments

INSURANCE

BRITISH insurer Aviva says that it plans to exit 16 non-core business areas and has announced senior management changes following a major strategic review of the embattled group. Aviva said "16 segments that are currently producing or will prospectively produce returns below the group's required return will be exited." The company also reshuffled its senior management, appointing David McMillan as director of group transformation, Robin Spencer as chief executive of general insurance for the UK and Ireland and John Lister as group chief capital and risk officer.

US unemployment claims fall sharply

ECONOMY

NEW claims for US unemployment benefits fell sharply last week, suggesting a slowdown in the pace of layoffs. This is according to official data yesterday ahead of the highly anticipated June labour data. The Labour Department said 374,000 jobless claims were filed in the week to June 30, down by 14,000 from the prior week's upwardly revised 387,250.

Boeing deliveries up on 2011 for Q2

AVIATION

BOEING said yesterday it delivered 150 commercial planes in the second quarter, up from 118 in the same period a year ago, led by an increase for the 737 model. The world's second-largest plane-maker after Airbus reported deliveries of 109 narrowbody 737 Next Generation planes, up from 94 delivered in the second quarter of 2011. So far in 2012, Boeing has delivered 208 737s. Boeing also said it delivered 22 777 planes in the second quarter, as well as seven 747 jumbo jets, six 767s and six of the carbon-composite 787. Year to date, 287 Boeing commercial planes have been delivered.

Irish Independent

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