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Spanish banks seek profits without lending

MADRID | By Francisco López | The purchase of Barclays’ retail banking division in Spain by CaixaBank has further accentuated the gap among the three major lenders (Santander, BBVA and Caixa) from the rest of their competitors. Experts insist on this process of bipolarisation of the Spanish banking system, with very big banks in the national and even international level, and other local, small or very specialised banks. All banks have done their homework with the restructuring, but now they face the most complicated challenge: to adapt their business models to the new scenario emerged after the crisis and become profitable again.


Will Anglo-Saxon banks steal spotlight from the euro zone’s?

LONDON | Morgan Stanley recently estimated that liabilities in fines and damages could amount to as much as $22 billion against the dozen banks allegedly involved in Libor-rigging. No one knows. The dimension of the case could scale up once brought to the courts of justice and the spillover on the markets would be extremely difficult to contain. The risk is all too evident. For instance, when Barclays was sentenced…

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Barclays’ Spanish division under suspicion over dividend tax fraud

By Julia Pastor, in Madrid | Problems for Barclays are multiplying. Added to the Libor scandal in the United Kingdom and the United States, it has been revealed on Monday morning that the Spanish ministry of Finance is performing a fiscal investigation on the bank’s national subsidiary practices of dividend or coupon tax fraud. According to the daily Expansion, which has the scoop, Barclays Capital would have started to avoid…

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What Wall Street makes of the Libor scandal

NEW YORK | Have Libor scandal shock waves reached this side of the Atlantic yet? There is no doubt they will. It may impact American consumers and the U.S. financial system: Barclays is the only bank confessing malpractices so far, although Wall Street has almost surely been involved in the same dynamics. So far we've only seen the tip of the iceberg but it sends a warning signal to the…

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Weekend link fest

A curated selection of links we hope can enlighten us all; some come from our corner, some do from other corners of the net. And as always, our comment widgets are anxious to get your suggestions. The emerging markets won't avoid euro's trouble Blackberry is killing itself how to get her backget=”_blank”>Be lazy, it's good for your company Why Barclays should not be turned into a scapegoat 5 reasons China's…

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Barclays, Deutsche Bank play nasty in troubled Spain

By Tania Suárez, in Madrid | German and British banks are trying to woo the economic elite of the Spanish society, “la crème de la crème” of wealthy Spaniards. Or, in plain English: the ones with the big bucks. The uncertainty over the Spanish future is making the depositors nervous, and banks from the UK and Germany are trying to take advantage. According to this article of the online daily El Confidencial Digital, foreign…


Barclays and the European free markets: the enemy within

LONDON | Whether it is electoral incentives or sincere concern what compelled the UK government to call for supervision from outside the banking sector, free market advocates must have felt an acute sense of betrayal. On Tuesday, the Chancellor of the Exchequer George Osborne no only reminded the City that the British Bankers Association members will not see a penny of the £290-million fine that has been imposed to Barclays…