Billionaire Gautam Adani's group is planning to build 10 GW of integrated solar manufacturing capacity by 2027, as it looks to capture energy transition business, sources close to the company said. Adani Group currently has a solar manufacturing capacity of 4 GW. Adani Solar has a confirmed order book of over 3,000 MW in exports that are to be serviced over the next 15 months, they said, adding Adani, recently, raised $394 million for solar manufacturing from Barclays PLC and Deutsche Banks AG through a trade finance facility.
Financial services major Citigroup's top executive Tom King is leaving the company after 20 years of service and is likely to join Barclays Plc, a media report said.
'There is a long-term bull market that commodities will witness. This can take 2-3 years to start. There have been some large moves in foreign exchange. We have seen the pound depreciate by 25 per cent against dollar. We have seen the yen appreciate against the dollar. When the markets start stabilising, these trends will reverse. This will give good trading opportunity. But it is not clear whether any one should do anything yet,' says Robert Morrice, MD, Barclays Wealth.
The total number of staff to be cut has not been finalised but could be as high as 90 people, the sources said, declining to be identified because the matter is confidential.
BlackRock Inc has executed a purchase agreement to acquire Barclays Global Investors, including its market leading ETF platform, iShares, from Barclays Plc, the company said. The transaction would create an independent and fully integrated asset management firm named 'BlackRock Global Investors' with combined assets under management of over $2.7 trillion, bringing together market leaders in active and index strategies.
As per the outsourcing partnership agreement, Firstsource would manage Barclays' operations center in Colorado Springs and would provide customer care and collection support to its US cardholders, Firstsource Solutions said in a filing to the Bombay Stock Exchange.
Financial services major Barclays Plc on Tuesday posted a robust profit of 6.87 billion pounds ($10.77 billion) for the three months ended December 31, 2009, driven by the sale of its Global Investors unit.
Private equity-backed Kosmos, which has received a total of $800 million in financing from Blackstone and Warburg Pincus, has hired Standard Chartered and Barclays Plc to sell its stakes in the offshore Jubilee oil field. A potential sale of Kosmos' stake in the Jubilee field is being closely watched as the asset is one of the largest oil finds in West Africa in the past decade.
Bouyed by Indian growth trajectories, Barclays plc on Tuesday said it would infuse $70 million in the country for a period of two years from 2006 to foray into the corporate banking business.
Barclays Plc, UK's third-largest bank by assets, plans to enter the emerging credit card market in India.
Together with Barclays-ABN Amro, about a half a dozen foreign banks such as Citigroup, HSBC and Standard Chartered could hire over 50,000 employees in India in the next three years.
British bank Barclays Plc could jump into the league of top three foreign banks in India from 13 at present if it succeeds in merging its Dutch rival ABN Amro with itself in a deal that could create a combined entity worth $160 billion.
The $5.7 billion total includes $1.6 billion in fines separately imposed by the US Federal Reserve on the five banks.
The move to sell the jewel in Vodafone's crown closes a heady expansionist chapter for one of Britain's most famous companies
The immediate concern for the rupee is the sharp spike in oil prices
An estimated $344 billion has been illegally removed from the Indian economy between 2002 and 2011
Gambling debt, stock tip lead to $1 million settlement but no charges for golfer Phil Mickelson.
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