Barclays Stock Price, News & Analysis

Barclays Research has released a new Impact Series report highlighting that AI growth could lead to a tripling of US data-centre usage by 2030. The report projects an increase from 150-175 terawatt hours (TWh) in 2023 to 560 TWh, equivalent to 13% of current US electricity demand.

Currently, data centres consume 1.0%-1.5% of global electricity, excluding cryptocurrencies. The report emphasizes the significant challenges in balancing emissions targets with AI advancement, suggesting that power conservation efforts through efficiencies may have impact in offsetting AI proliferation.

The analysis calls for collaboration between policymakers, tech companies, and the energy industry to ensure AI development remains both socially beneficial and environmentally sustainable, as the infrastructure demands could significantly impact global electricity demand and net-zero targets.

Barclays Bank PLC has announced amendments to the purchase price for certain series of its exchange-traded notes (ETNs) in connection with its previously announced cash tender offers and consent solicitations. The amended purchase prices affect two ETN series: the iPath® CBOE S&P 500 BuyWrite IndexSM ETN (BWVTF) with a new purchase price of $130.00, and the iPath® Bloomberg Energy Subindex Total ReturnSM ETN (JJETF) with a new price of $7.00.

These prices represent a premium to the Closing Indicative Note Values as of January 13, 2025. The expiration date remains January 29, 2025, with payment scheduled for February 5, 2025. Noteholders who have already tendered their notes are not required to take any further action, and the amended prices will apply to their submissions.

Barclays Bank PLC has announced an extension of cash tender offers and consent solicitations for four series of its exchange-traded notes (ETNs). The expiration deadline has been extended from November 20, 2024, to January 29, 2025, at 6:00 p.m., New York City time. The tender offers include specific purchase prices for each ETN series, offering premiums above their Closing Indicative Note Values as of November 20, 2024. The affected ETNs include products tracking S&P 500 BuyWrite Index, Bloomberg Livestock, Copper, and Energy indices. The purchase price is payable on February 5, 2025, unless further extended or terminated early.

Barclays Bank PLC has amended the purchase price for certain series of its exchange-traded notes (ETNs) in its ongoing cash tender offers and consent solicitations. The updated purchase prices affect two ETN series: the iPath® CBOE S&P 500 BuyWrite Index ETN at $120.00 (from $110.9504) and the iPath® Bloomberg Livestock Subindex Total Return ETN at $24.00 (from $21.9795). The expiration date remains November 20, 2024, with payment scheduled for November 26, 2024.

The purchase prices reflect a premium to the Closing Indicative Note Value as of November 4, 2024, though they may be lower than the trading price on the expiration date. Previously tendered notes remain valid under the amended terms.

General Motors (NYSE: GM) and Barclays US Consumer Bank have entered into a long-term partnership agreement for Barclays to become the exclusive issuer of the GM Rewards Mastercard and GM Business Mastercard in the United States starting next summer. The partnership aims to enhance loyalty and engagement with millions of GM customers.

Key points:

• GM has the largest customer base of any automaker in the US
• The GM credit card portfolio, launched in 1992, is one of the nation's longest-tenured cobrand credit card programs
• Cardmembers can earn and redeem rewards on new Chevrolet, Cadillac, Buick, and GMC vehicles, including GM's new electric vehicle lineup
• Barclays will acquire the card program's receivables from the current issuer next year
• The partnership aligns with Barclays' growth strategy to establish partnerships with America's best brands

Barclays has appointed Bradley Rogoff as Global Head of Research, effective 1 October 2024. Mr. Rogoff, currently Head of FICC Research, will report to Stephen Dainton, Head of Investment Bank Management and President, BBPLC. He will join key management teams and chair the Research Executive Forum.

Mr. Rogoff joined Lehman Brothers in 2002 and transitioned to Barclays in 2008 following its acquisition. Under his leadership, Barclays has achieved top rankings in Fixed Income Research and Credit Strategy. The bank recently ranked in the Top 5 for European Equity Research and secured the #1 position for UK Research.

Stephen Dainton praised Mr. Rogoff's deep knowledge and track record, stating that he is the right choice to lead Barclays' research strategy forward, focusing on delivering innovative and differentiated content for clients in a changing environment.

Barclays Bank PLC has announced updates to its cash tender offers and consent solicitations for five series of exchange-traded notes (ETNs). The bank has:

• Determined results for one expired series (iPath® Bloomberg Platinum Subindex Total Return℠ ETN)
• Extended the expiration deadline to November 20, 2024, for four other series
• Amended the purchase price for certain extended series

For the expired series, Barclays accepted 40,542 notes at $22.00 per note, totaling $891,924. The settlement date is October 2, 2024. For the extended series, the purchase prices range from $6.00 to $115.00 per note, reflecting a premium to the Closing Indicative Note Value as of September 25, 2024. Barclays may further amend the offers based on changes in the applicable Closing Index Levels.

Barclays has announced two key appointments to strengthen its Investment Banking leadership in Canada. Greg Petit will join as Head of Infrastructure, Power and Utilities for Canada, based in Toronto. Ken Davis will become Head of Western Canadian Coverage, based in Calgary. Both will report to Ryan Voegeli, Head of Investment Banking for Canada.

Petit, with nearly 20 years of experience, was previously at BMO Capital Markets. Davis, also with two decades of experience, joins from Citi. These appointments follow Stephen Stewart's recent hiring as Head of M&A Execution for Canada, underlining Barclays' commitment to investing in top talent and expanding its Canadian presence.

Barclays has been serving clients in Canada for almost a century, offering Investment Banking, Global Markets, and Global Research coverage. These strategic hires aim to enhance Barclays' ability to provide specialized advice in key sectors like infrastructure, power, utilities, and energy transition.

Barclays has announced three key appointments in its Industrials Investment Banking team. Derek McNulty joins as Global Co-Head of Chemicals, Derek Davidson as Head of Americas Commercial, Residential and Industrials Services, and Jared Itkowitz as Head of Americas Transportation and Logistics. All three will be based in New York, reporting to Spyros Svoronos, Global Head of Industrials Investment Banking.

These strategic hires aim to strengthen Barclays' global Industrials franchise, which is a key component of their investment banking business. The bank has recently played significant roles in major transactions, including Koch's $3.6bn acquisition of IFCO and LATAM Airlines Group's $456mm IPO. Barclays currently ranks sixth globally in Industrials across all products, according to Dealogic data.