Hints and tips:
...“We don’t expect revolutionary changes to strategy, but believe Barclays’ evolution under Venkat can reset the medium-term investment case positively.”...
...“I don’t think there is a Trump overhang [on our shares]. There is a US-China overhang,” Winters said....
...“Credit costs were substantially better than expectations,” said Jefferies analyst Joe Dickerson....
...“To the extent that we don’t need it in the business, we are ready, willing and able to return it to shareholders,” he said, declining to be more specific on timing and scale....
...Joseph Dickerson, an analyst at Jefferies, said “the updated 2022 strategy plan looks a bit dull” and investors were “searching for the narrative”....
...“We think it is appropriate that regulators keep negative rates as a potential tool but don’t think it’s likely,” said Mr Staley....
...Don Dickerson, vice-president of Fitness SF, said the group lost about $20m when all its eight locations across the San Francisco Bay Area were forced to close for six months....
...We don’t believe cruise perception will be impaired permanently....
...Additional reporting by Don Weinland in Beijing...
...“I don’t think there’s any change in strategy but it gives them more optionality . . . Bramson has obviously stimulated thought on this.” Rivals welcomed the disruption at the UK bank....
...“Customers who don’t get the ingredients they need, or get those ingredients late, are going to be much more prone to churning,” Mr McCarthy added....
...“The ‘bad’ element was cost development where cost growth outstripped revenue growth,” said Joseph Dickerson, banks analyst at Jefferies....
...Joseph Dickerson, bank analyst at Jefferies, said fourth-quarter profits were a third below expectations, hit by a 31 per cent drop in financial markets revenues....
...“Big moves like TSB coming off Lloyds’ systems on to their own always create major vulnerabilities and you don’t do those things likely,” one of them said....
...“Barclays’ strategy isn’t obviously wrong, but we don’t think it will offer an attractive return in the next few years, so naturally there is a debate.”...
...“They have done a good job of addressing tail risk,” said Joseph Dickerson, banks analyst at Jefferies....
...UBS seem sanguine (our emphasis): Falling asset prices don’t necessarily mean much higher defaults....
...“We don’t feel we are out of the woods yet,” said Mr Winters. “We don’t feel we have fully rounded the corner on this point, given that [bad loans] are still rising....
...He said: “Frankly, the statement from RBS is ‘we just don’t know how long it’s going to take’. But there’s now unequivocal confirmation that it’s a requirement in order to pay out excess capital.”...
...“You don’t have a long lifeline.”...
...If we decide we don’t need it, we won’t.” Mr Dickerson at Jefferies said: “With a convincing strategy and honest assessment Bill Winters could probably still get an equity issue underwritten....
...Danny Rimer, investor in several online retailers including Etsy and Farfetch, which raised $86m this week, said in a blogpost on Wednesday that building a strong ecommerce brand was a “difficult task I don...
...“I don’t think this is catching up [on provisions we should have taken earlier],” he said....
...Joseph Dickerson, an analyst at Jefferies, said: “Every case has a different set of facts and I don’t think it would be appropriate to extrapolate from this one particular case involving a very small amount...
...But they shouldn’t delay too long . . . you probably don’t want to be on the road at the same time as Deutsche or Credit Suisse.”...
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