A logo outside a Barclays Plc bank branch in Woolwich, London, UK, on Friday, Feb. 9, 2024. Barclays PlcÂ said it will acquire much ofÂ Tesco Plcâ€™s banking business as the lender seeks to establish a greater foothold in retail banking in the UK.Â Photographer: Chris J. Ratcliffe/Bloomberg

https://images.wsj.net/im-976407?size=1.5005861664712778

Barclays said its Hamburg-based Consumer Bank Europe — which offers diversified retail banking services to the German and Austrian markets — will be bought for a small premium to net assets

Reporter

https://images.fnlondon.com/im-42282468?width=1280&size=1.508

Barclays agreed to sell its German consumer finance business to a subsidiary of Austrian bank Bawag Group as it continues with its plan to simplify its business.

The British lender on 4 July said that its Hamburg-based Consumer Bank Europe — which offers diversified retail banking services to the German and Austrian markets — will be bought for a small premium to net assets which will be paid in cash when the deal closes.

Barclays agrees to sell German consumer finance business to Austria’s Bawag

Barclays Consumer Bank Europe had $5bn in gross assets, mostly from card and loan receivables

Elena Vardon

C-Suite

Finance

Investing

Abrdn names tech chief for investments unit in latest appointment under Jason Windsor

Private markets in 2025 and Woodford’s claim he was ‘not in control’ over fund closure

Neil Woodford defiant over fund collapse: ‘I don’t think there’s anything I could have done’

https://images.fnlondon.com/im-52085931?size=1.5

Alain Courbebaisse will take on role in the new year

Simpson Thacher hires Sidley Austin finance duo in London

https://images.fnlondon.com/im-92579329?size=1.52

Leveraged finance lawyers are in high demand in London

Trading Places: EY names UK financial services head, BofA promotes 387 MDs

https://images.fnlondon.com/im-329118?size=1.5

Find out who is on the move in the City and beyond this week

The Fed’s signal that it will cut rates less than expected complicates efforts by other central banks to manage their economies.

Bank of England Keeps Rates Steady After Fed Move

Palliser Capital doubled down on its call for a review of Rio Tinto’s dual listing in London and Sydney, adding that it now has the backing of more than 100 shareholders.

Activist Investor Widens Call for Review of Rio Tinto’s Dual-Listing

Activist Investor Palliser Capital Widens Call for Review of Rio Tinto’s Dual-Listing Status

In a 12-hour social-media barrage, the world’s richest man led a rebellion against a bill aimed at keeping the government funded.

Musk Draws First Blood With Spending Bill Bombshell 

Aides kept meetings short and controlled access, top advisers acted as go-betweens and public interactions became more scripted. The administration denied Biden has declined.

By Annie Linskey, Rebecca Ballhaus, Emily Glazer and Siobhan Hughes

How the White House Functioned With a Diminished Biden in Charge

Indexes were lower in Europe’s morning trade, as markets digested hawkish comments from the Fed’s Powell which left investors blindsided, Richard Hunter, Head of Markets at Interactive Investor, said.

European Indexes Fall on Slower U.S. Rate Cut Projections

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