Reuters - Video

EDITION: U.S. | U.K. | IN

Finance Videos

Barclays takes $1.6bln mis-selling hit

Tuesday, 05 Feb, 2013 - 01:39

Barclays bosses duck questions over funding for its rescue by Qatar four years ago, as another big charge for mis-selling shows how past problems continue to dog the British bank. Ciara Sutton reports

▲ Hide Transcript

View Transcript

TV AND WEB RESTRICTIONS~**NONE** The knocks just keep coming for Barclays. It's to set aside an extra 1 billion pounds for charges and compensation relating to the mis-selling of insurance to customers. The Payment Protection Insurance scandal alone has cost UK banks over 12 billion pounds and could end up more than double that. It comes as the bank's bosses came face to face with the UK banking inquiry. The probe was launched after Barclays was fined 450 million dollars for rigging Libor interest rates. Chief Executive Antony Jenkins took over as CEO from Bob Diamond who was ousted over the Libor fine. He says he can improve the bank's culture, starting with bonuses - and won't take one himself for 2012. (SOUNDBITE) (English) GROUP CHIEF EXECUTIVE, BARCLAYS, ANTONY JENKINS, SAYING: "We have adjusted our pools substantially this year to reflect the events of 2012, and that has been subject to intense scrutiny from the remuneration committee. In terms of individuals where malice has been determined, appropriate actions will be taken." But Jenkins ducked lawmakers' questions over Barclays' rescue funding by Qatar at the height of the financial crisis Unlike some of its rivals, Barclays avoided a government bailout when it received investment from Qatar. Now UK authorities are looking into allegations Barclays lent Qatar money to invest in it. Scandals involving UK banks have once again turned the spotlight on the culture of the industry. Jenkins is attempting to revive Barclays' reputation. But he's warned that his turnaround plan, to be unveiled next week, could take 5-10 years to fulfill.

Barclays takes $1.6bln mis-selling hit

Tuesday, 05 Feb, 2013 - 01:39

The Exchange »

The Exchange: Hot commodity The Exchange: Hot commodity

Wed, 16 Jul, 2014 - (9:25)

The Exchange: Constitutional crusade The Exchange: Constitutional crusade

Wed, 25 Jun, 2014 - (11:35)

The Exchange: The value of money The Exchange: The value of money

Mon, 02 Jun, 2014 - (9:53)

The Exchange: China’s Second Continent The Exchange: China’s Second Continent

Tue, 27 May, 2014 - (9:35)

The Exchange: A master of business arts The Exchange: A master of business arts

Thu, 08 May, 2014 - (8:24)

The Exchange: America's bankrupt cities The Exchange: America's bankrupt cities

Mon, 05 May, 2014 - (8:52)

The Exchange: Let the rocking commence The Exchange: Let the rocking commence

Tue, 08 Apr, 2014 - (8:13)

The Exchange: The Moneyball fallacies The Exchange: The Moneyball fallacies

Mon, 24 Mar, 2014 - (9:54)

Is doing good a good business? Is doing good a good business?

Mon, 17 Mar, 2014 - (7:38)

Oddly Enough »

Eco-friendly bench keeps your tech fully charged Eco-friendly bench keeps your tech fully...

Tue, 19 Aug, 2014 - (1:55)

A cheetah cub and a puppy make friends A cheetah cub and a puppy make friends

Tue, 19 Aug, 2014 - (0:48)

Bug eaters unite in Tokyo Bug eaters unite in Tokyo

Tue, 19 Aug, 2014 - (1:23)

Tango dancers put best feet forward Tango dancers put best feet forward

Tue, 19 Aug, 2014 - (1:08)

Giraffe calf checks out new surroundings Giraffe calf checks out new surroundings

Mon, 18 Aug, 2014 - (0:42)

Bolivian priest blesses beloved pups Bolivian priest blesses beloved pups

Sun, 17 Aug, 2014 - (1:25)

Gamescom opens to the public Gamescom opens to the public

Thu, 14 Aug, 2014 - (1:05)

Reuters Investigates »

Re-homing victim: "I could have been dead" Re-homing victim: "I could have been dead"

Wed, 19 Feb, 2014 - (8:24)

Cops and loggers in the Amazon rainforest Cops and loggers in the Amazon rainforest

Fri, 10 Jan, 2014 - (4:01)

"Passed around like a dog" "Passed around like a dog"

Thu, 29 Aug, 2013 - (6:32)

Adopted, then abandoned online Adopted, then abandoned online

Thu, 29 Aug, 2013 - (13:21)

How the DEA keeps its secrets secret How the DEA keeps its secrets secret

Mon, 05 Aug, 2013 - (1:36)

How education lost its role as the great equalizer - Reuters Investigates How education lost its role as the great...

Mon, 17 Dec, 2012 - (7:52)

Jihad Jane: From abused child to American jihadist - Reuters Investigates Jihad Jane: From abused child to American...

Sun, 09 Dec, 2012 - (10:01)

Jihad Jane: The order to kill - Reuters Investigates Jihad Jane: The order to kill - Reuters...

Mon, 10 Dec, 2012 - (10:39)

Moving Pictures »

"Old timers" sail the Chesapeake Bay "Old timers" sail the Chesapeake Bay

Mon, 11 Aug, 2014 - (2:27)

Burned memories Burned memories

Fri, 08 Aug, 2014 - (3:02)

Images of July Images of July

Fri, 01 Aug, 2014 - (1:20)

World Cup: passion on the pitch World Cup: passion on the pitch

Fri, 11 Jul, 2014 - (1:00)

A refugee in America gives back A refugee in America gives back

Thu, 03 Jul, 2014 - (3:25)

A long search for refuge A long search for refuge

Fri, 20 Jun, 2014 - (3:04)

World Cup: Around the globe in 50 goals World Cup: Around the globe in 50 goals

Fri, 06 Jun, 2014 - (1:08)

VIVID – Sydney’s spectacle of light VIVID – Sydney’s spectacle of light

Fri, 30 May, 2014 - (1:37)

The week that changed Boston The week that changed Boston

Mon, 14 Apr, 2014 - (3:28)