According to sources cited by Bloomberg, Barclays is considering a cut of approximately 5% of “client-facing staff in the trading division as well as some dealmakers worldwide.”
The UK banking giant may cut as many as 400 jobs in its domestic retail business.
Bloomberg reported, citing people close to the matter, that the bank is planning to reduce nearly 5 per cent of “client-facing staff in the trading division as well as some dealmakers globally.”
Barclays is also reportedly preparing to restructure teams within its UK consumer-banking unit.
A Barclays spokesperson said in a statement that they “do not comment on speculation”.
“We regularly review our operations to ensure we meet the evolving needs of our customers and clients in an efficient and effective way,” the spokesperson was quoted as saying.
Earlier, top global brokerage firm Morgan Stanley laid off nearly 3,000 jobs in its second round of job cuts this year amid a continuing global meltdown.
In December 2022, the global investment advisory firm cut about 2 per cent of its global workforce, or about 1,600 employees.
Morgan Stanley followed rival Goldman Sachs and other investment firms including Citigroup and Barclays in reducing their workforce.
Goldman Sachs eliminated about 3,200 jobs in January in one of its biggest cuts ever.
Officials fear the information has been obtained by Irish Republican Army dissidents who continue to mount occasional attacks on police 25 years after Northern Ireland’s peace accord.
Published Date – 09:40 PM, Thu – 14 September 23
Representational Image
London: Personal details of thousands of police officers and staff from Greater Manchester Police have been hacked from a company that makes identity cards, the second such cyberattack to affect a major British police force in less than a month.
Details on identity badges and warrant cards, including names, photos and identity numbers or police collar numbers, were stolen in the ransomware attack, Greater Manchester Police said Thursday. The third-party supplier was not identified.
The force said no home addresses of officers or any financial information about individuals was stolen.
“This is being treated extremely seriously, with a nationally led criminal investigation into the attack,” Assistant Chief Constable Colin McFarlane said in a statement.
Britain’s National Crime Agency is leading the investigation into the ransomware attack.
The federation that represents officers in Greater Manchester said it is working with the police force to limit the damage.
“Our colleagues are undertaking some of the most difficult and dangerous roles imaginable to catch criminals and keep the public safe,” said Mike Peake, chair of the Greater Manchester Police Federation.
“To have any personal details potentially leaked out into the public domain in this manner — for all to possibly see — will understandably cause many officers concern and anxiety.” The attack follows the news on August 26 that London’s Metropolitan Police suffered a similar security breach involving one of its suppliers. It also referred the incident to the National Crime Agency.
The breaches follow an incident in July in which the Police Service of Northern Ireland acknowledged that it had inadvertently published personal information of more than 10,000 officers and staff in response to a freedom of information request.
Officials fear the information has been obtained by Irish Republican Army dissidents who continue to mount occasional attacks on police 25 years after Northern Ireland’s peace accord.
An independent team commissioned by NASA cautioned that the negative perception surrounding UFOs poses an obstacle to collecting data
Published Date – 09:13 PM, Thu – 14 September 23
Cape Canaveral:NASA said Thursday that the study of UFOs will require new scientific techniques, including advanced satellites as well as a shift in how unidentified flying objects are perceived.
The space agency released the findings after a yearlong study into UFOs.
In its 33-page report, an independent team commissioned by NASA cautioned that the negative perception surrounding UFOs poses an obstacle to collecting data. But officials said NASA’s involvement should help reduce the stigma around what it calls UAPs, or unidentified anomalous phenomena.
“At this point there is no reason to conclude that existing UAP reports have an extraterrestrial source,” the report said.
The 16-member panel noted that artificial intelligence and machine learning are essential for identifying rare occurrences, including UFOs.
NASA “with its world-leading experience in these aspects is well-positioned to play a leading role,” it wrote.
At the one and only public meeting earlier this year, the independent team selected by the space agency insisted there is no conclusive evidence of extraterrestrial life associated with UFOs.
No top-secret files were accessed by the scientists, aviation and artificial intelligence experts, and retired NASA astronaut Scott Kelly, the first American to spend nearly a year in space. Instead, the 16-member group relied on unclassified data in an attempt to better understand unexplained sightings in the sky.
NASA said there are so few high-quality observations that no scientific conclusions can be drawn.
The government refers to unexplained sightings as UAPs versus UFOs. NASA defines them as observations in the sky or elsewhere that cannot be readily identified or scientifically explained.
The study was launched a year ago and cost under USD 100,000.
UK on Sunday said it will provide USD 2 billion to the Green Climate Fund in its “biggest” single funding commitment to help the world tackle climate change
Published Date – 11:40 AM, Sun – 10 September 23
New Delhi: The UK on Sunday said it will provide USD 2 billion to the Green Climate Fund in its “biggest” single funding commitment to help the world tackle climate change.
The British High Commission in India said Prime Minister Rishi Sunak announced the financial contribution to help the world’s most vulnerable people adapt to and mitigate the impact of climate change.
Sunak is currently in New Delhi to attend the two-day G20 Summit, which began on Saturday.
“The UK is stepping up and delivering on our climate commitments, both by decarbonising our own economy and supporting the world’s most vulnerable to deal with the impact of climate change,” Sunak said, addressing the G20 leaders.
“This is the kind of leadership that the world rightly expects from G20 countries. And this government will continue to lead by example in making the UK, and the world, more prosperous and secure,” he said.
There is no report till now of any Indian national getting affected due to the earthquake in Morocco that has killed over 2,000 people, the Embassy of India here has said
Published Date – 11:50 AM, Sun – 10 September 23
Rabat: There is no report till now of any Indian national getting affected due to the earthquake in Morocco that has killed over 2,000 people, the Embassy of India here has said, advising all its citizens in the country to stay calm and adhere to guidelines issued by the local authorities.
The powerful 6.8 magnitude earthquake shook Morocco late on Friday.
The Interior Ministry of Morocco said late Saturday that 2,012 people were killed in the temblor. At least 2,059 people were injured, including 1,404 critically. The Embassy of India in Rabat issued an advisory on Saturday in the aftermath of the quake and said it was in touch with the community members.
“Till now, there is no report of any Indian national getting affected due to the earthquake,” the mission said.
It urged all Indian nationals currently in Morocco to stay calm and adhere to the advisory/guidelines issued by the local authorities from time to time.
“The Embassy of India in Rabat would like to advise all Indian citizens residing in the Kingdom of Morocco that they can call our 24×7 helpline number +212 661 297 491 for any assistance they may require in the aftermath of the earthquake,” the advisory said.
Earlier, the Indian embassy in Morocco expressed its deep sympathy to the victims of the earthquake in the country. “India stands ready to extend assistance to Morocco in this difficult time,” it said.
Prime Minister Narendra Modi on Saturday also expressed grief at the loss of lives in an earthquake in Morocco.
“In this difficult hour the entire world community is with Morocco and we are ready to offer them all possible assistance,” he said in his opening remarks at the G20 summit in New Delhi.
United States is sanctioning more than 150 businesses and people from Russia to Turkiye, the United Arab Emirates and Georgia to try to crack down on evasion
Published Date – 07:52 PM, Thu – 14 September 23
Russian President Vladimir Putin, foreground right, attends the launch ceremony for the first technological line for liquefying natural gas on gravity bases as part of the Arctic LNG2 (Liquefied Natural Gas) project at the Center for the construction of large-tonnage offshore structures (CSCMS) of Novatek-Murmansk company in the village of Belokamenka, about 1700 km (1063 miles) north of Moscow, Murmansk region, Russia, Thursday, July 20, 2023. (Alexander Kazakov, Sputnik, Kremlin Pool Photo via AP, File)
Washington: The United States on Thursday is sanctioning more than 150 businesses and people from Russia to Turkiye, the United Arab Emirates and Georgia to try to crack down on evasion and deny the Kremlin access to technology, money and financial channels that fuel President Vladimir Putin’s war in Ukraine.
The sanctions package is one of the biggest by the State and Treasury departments and is the latest to target people and companies in countries, notably NATO member Turkiye, that sell Western technology to Russia that could be used to bolster its war effort.
The package also aims to hobble the development of Russia’s energy sector and future sources of cash, including Arctic natural gas projects, as well as mining and factories producing and repairing Russian weapons.
“The purpose of the action is to restrict Russia’s defense production capacity and to reduce the liquidity it has to pay for its war,” James O’Brien, head of the State Department’s Office of Sanctions Coordination, told The Associated Press.
The US is sanctioning a newly established UAE company, which provides engineering and technology to Russia’s Arctic liquefied natural gas project, as well as multiple Russian companies involved in its development.
Putin wants the Arctic LNG 2 project to produce more liquefied natural gas and make Russia a bigger player in the energy market.
In July, Putin visited the LNG site in Russia’s far north and said it would have a positive impact on “the entire economy.” The US package includes sanctions on several Turkish and Russian companies that the State Department says help Moscow source US and European electronic components — such as computer chips and processors — that can be used in civilian and military equipment.
The department also is targeting Turkish companies that have provided ship repair services to a company affiliated with Russia’s Ministry of Defense.
Before the war, O’Brien said, Russia imported up to 90% of its electronics from countries that are part of the Group of 7 wealthy democracies, but sanctions have dropped that figure closer to 30 per cent.
Sanctions, he said, “are effective” and “put a ceiling on Russia’s wartime production capacity.” “Russia is trying to run a full production wartime economy, and it is extremely difficult to do that with secretive episodic purchases of small batches of equipment from different places around the world,” O’Brien said.
However, analysts say Russia still has significant financial reserves available to pursue its war and it’s possible for Russia to import the technology it seeks in tiny batches to maintain defense production.
“Russia could probably fill a large suitcase with enough electronic components to last for cruise missile production for a year,” said Richard Connolly, a specialist on Russia’s defense sector and economy at the risk analysis firm Oxford Analytica.
Russia, he said, also gets a lot of electronic components from Belarus, “so even if we whack all the moles, Belarus will still provide the equipment for as long as Lukashenko is in power.”
Both Turkiye and the UAE have condemned Russia’s invasion of Ukraine but have not joined Western sanctions and sought to maintain ties with Russia.
Russian Industry and Trade Minister Denis Manturov said this year that trade between Russia and the UAE grew by 68 per cent to USD 9 billion in 2022, according to Russian state news agency Tass.
Despite countries still doing business with Russia, the State Department believes sanctions are working, O’Brien said, noting that “the way to measure success is on the battlefield.”
“Ukraine can shoot down most of what the Russians are firing, and that tells us that there’s a gap,” he said. “The battlefield debris shows us Russia is using less capable electronics or sometimes no electronics at all.”
Nonetheless, Russia has been pummeling Ukraine with frequent missile attacks, including two over the past week that killed at least 23 people in Ukraine.
This is partly because Russia is “still getting hold of these electronic components and they are largely functioning as they did before,” said Connolly, the Russia analyst.
The latest sanctions package targets multiple Russian companies that repair, develop and manufacture weapons, including the Kalibr cruise missile. But to really turn the screws on Russia, analysts say Western companies need to think twice before selling crucial technology to countries known to have a healthy resale market with Russia.
“We need to work much harder with companies in our own countries to ensure that they are not feeding the re-export market,” said Tom Keatinge, director of the Centre for Financial Crime and Security Studies at the Royal United Services Institute in London.
“Many of them may be celebrating a rise in sales to the UAE or Turkiye and not realising, or not choosing to realize, that the rise is being driven by re-export business as opposed to genuine business happening in the UAE and Turkiye,” he said.
The United Arab Emirates has insisted it follows international laws when it comes to money laundering and sanctions.
However, a global body focused on fighting money laundering has placed the UAE on its “gray list” over concerns that the global trade hub isn’t doing enough to stop criminals and militants from hiding wealth there.
Turkiye, meanwhile, has tried to balance its close ties with both Russia and Ukraine, positioning itself as a mediator.
Turkiye depends heavily on Russian energy and tourism. Last year, however, Turkiye’s state banks suspended transactions through Russia’s payment system, Mir, over US threats of sanctions.
Including the latest sanctions, the State Department says the US has targeted almost 3,000 businesses and people since Russia invaded Ukraine in February 2022.
“The United States and its allies and partners are united in supporting Ukraine in the face of Russia’s unprovoked, unjustified and illegal war. We will stand with Ukraine for as long as it takes,” US Secretary of State Anthony Blinken said in a statement.
The State Department also sanctioned a Russian citizen for being associated with the Wagner mercenary group and for facilitating shipping of weapons from North Korea to Russia.
Also targeted were a Russian oligarch who the State Department says has personal ties to Russian Defense Minister Sergei Shoigu and organised crime, as well as a Russian Intelligence Services officer and a Georgian-Russian oligarch.
The State Department has said Russia’s Federal Security Service worked with the oligarch to influence Georgian society and politics for Russia’s benefit.
“The committee concludes that the breach of confidentiality was inadvertent and that Mr Sunak has acknowledged this, so the Committee does not recommend any sanction,” the committee said.
Published Date – 06:06 PM, Thu – 14 September 23
London: Rishi Sunak was rebuked by the UK’s parliamentary panel for maintaining standards for a “minor and inadvertent breach” of confidentiality rules related to an investigation into the Prime Minister’s declaration of wife Akshata Murty‘s financial interests in a childcare firm.
The investigation of the House of Commons Committee on Standards arose in the context of the confidentiality rules that applied to an investigation by the Parliamentary Commissioner for Standards into whether Sunak had breached paragraph 6 of the ministerial code relating to the declaration of interests.
Last month, the parliamentary watchdog had concluded that Sunak’s failure to reference his wife’s shares in Koru Kids arose out of “confusion and was accordingly inadvertent”. The related inquiry by the Standards Committee arose around whether his Downing Street spokesperson broke rules over such investigations being confidential until completed.
“The committee concludes that the breach of confidentiality was inadvertent and that Mr Sunak has acknowledged this, so the Committee does not recommend any sanction,” the committee said.
“This was a minor and inadvertent breach of the Code. Mr Sunak’s staff should not have issued any statement about the details of the case under investigation without the approval of the Parliamentary Commissioner for Standards. The Commissioner has made clear that it had no impact on his inquiry. Nevertheless, it constitutes a breach that should not have occurred,” it notes.
“However, Mr Sunak acknowledges that with hindsight, he would have followed a different course of action. The Committee would remind the Prime Minister, and all Ministers, like all other MPs, that it is their responsibility, as individuals, to ensure that such breaches do not occur,” it concludes.
Parliamentary Standards Commissioner Daniel Greenberg’s investigation began in March in the wake of the government’s Spring Budget, which included a pilot scheme of incentive payments of GBP 600 for childminders joining the profession, a sum that doubles to GBP 1,200 if they sign up through an agency.
Koru Kids was one of six childminder agencies in England listed on the government’s website when the policy was announced, and Akshata Murty was listed as a shareholder in the most recently filed paperwork for the business on Companies House.
Greenberg’s findings ended with a “rectification procedure” and without any sanction after he concluded that Sunak believed he had declared the interest as required but inadvertently confused two different sets of processes involved. However, as his findings included a breach of confidentiality rules, it had to be referred to the Parliament’s Committee on Standards – a process which concluded this week.
US Ambassador Lynne Tracy was summoned on Thursday to be issued with a ‘demarche’ note, a form of diplomatic protest, regarding David Bernstein and Jeffery Sillin, the Russian diplomatic department has announced.
Moscow declared the activities of the embassy employees incompatible with their status. They have seven days to leave the country, it said.
In late August, the Russian security service FSB identified the two Americans as persons of interest in an investigation. They are suspected of recruiting Russian citizen Robert Shonov as a confidential informant.
The felony that the man has been accused of was added to the Russian criminal code just last year. A person involved in secret cooperation with a foreign state or an international organization, whose actions are “directed at harming the security of Russia,” may be punished by up to eight years in prison. Shonov was arrested in May.
Washington has denied any wrongdoing and some weeks ago State Department spokesman Matt Miller claimed the accusations against the diplomats as an attempt to “intimidate and harass” embassy staff, RT reported.
The ministry stated that “unlawful activity by the US diplomatic mission, including interference in the domestic affairs of the host state, is unacceptable and will be stopped with determination.”
Moscow and Washington have been degrading their respective diplomatic representation in the US and Russia for years.
The Senior Coroner for Milton Keynes, south-east England, has now submitted a ‘Prevention of future deaths’ report to UK health authorities to urge better labelling of protein drinks and action to prevent another similar tragedy
Published Date – 06:11 PM, Thu – 14 September 23
London: A UK coroner has issued a warning about the dangers associated with easily accessible high protein supplements and drinks after a 16-year-old Indian-origin boy died from brain damage after consuming such a drink.
Rohan Godhania died in August 2020 and the inquest into his death concluded this year that the teenager suffered from undiagnosed conditions of hyperammonaemia and Ornithine Transcarbamylase Deficiency (OTC), a urea disorder that prevents the breakdown of ammonia, which were triggered by the consumption of a high protein drink.
The Senior Coroner for Milton Keynes, south-east England, has now submitted a ‘Prevention of future deaths’ report to UK health authorities to urge better labelling of such drinks and action to prevent another similar tragedy.
“High protein supplements and drinks are easily accessible to the general public, yet their labels fail to adequately inform consumers about the potential dangers posed to individuals with urea cycle disorders, such as Ornithine Transcarbamylase (OTC) deficiency,” the report notes.
“This genetic disorder can lead to severe medical emergencies, requiring immediate medical intervention to prevent life-threatening complications. This disorder can be triggered by the sudden increased ingestion of protein,” he said.
“Consideration should be given as to whether the labels should prominently display a warning about the potential risks for individuals with an undiagnosed urea cycle disorder and include clear and concise information on symptoms of this and the importance of seeking immediate medical advice,” he added.
Godhania was rushed to West Middlesex Hospital, west London, where his condition deteriorated and he died on August 18, 2020.
The coroner’s report also pointed out a lack of clarity and consistent guidance across the UK’s National Health Service (NHS) regarding the appropriate classification of teenagers aged 16-18. He warned that the question of whether they should be treated as paediatric patients or adults is leading to confusion and potential disparities in the care provided.
“I consider that this should be urgently reviewed by NHS England and if necessary the guidance on age classification updated ensuring that all healthcare providers adhere to a unified approach emphasising the importance of consistent and appropriate care for this age group,” the coroner said.
Another matter of concern flagged in the report is the lack of guidance for testing for ammonia in emergency departments in the country.
“Timely and accurate diagnosis is essential in such cases to ensure appropriate treatment and prevent unnecessary deaths. The guideline should include clear protocols for conducting ammonia tests, interpreting the results and making informed clinical decisions based on the findings. The guidance should be disseminated to all emergency departments and healthcare facilities,” the coroner added.
The authorities who have now been seen this report by the coroner have a duty to respond around actions to be taken.
Imran Khan and Qureshi, the 67-year-old former foreign minister, were arrested under the Official Secrets Act for allegedly misplacing and misusing a classified document for vested political interests
Updated On – 06:21 PM, Thu – 14 September 23
File Photo
Islamabad: A special court in Pakistan on Thursday rejected the bail application of jailed former prime minister Imran Khan in the cypher case related to the alleged disclosure of state secrets.
Special court Judge Abual Hasnat Zulqarnain, who heard the bail applications of Khan and former foreign minister Shah Mahmood Qureshi, announced the reserved verdict after Pakistan Tehreek-e-Insaf (PTI) party counsels completed their arguments.
The judge rejected the post-arrest bail pleas of the two leaders, destroying hopes of the early release of Khan, 70, from the District Jail, Attock, where he was lodged on August 5 after conviction in the Toshakhana case.
Khan and Qureshi, the 67-year-old former foreign minister, were arrested under the Official Secrets Act for allegedly misplacing and misusing a classified document for vested political interests.
On Wednesday, the special court extended the judicial remand of both leaders till September 26.
Though his sentence in the case was suspended by the Islamabad High Court (IHC) on August 29, Khan remains in Attock prison in the cypher case. Last month, the special court extended his remand for 14 days till September 13.
The cypher case is based on the alleged leaking of a cable sent by the Pakistan embassy in Washington in March last year.
In March last year, ahead of the vote of no-confidence that resulted in his ouster, Khan pulled out a piece of paper – allegedly the cypher – from his pocket and waved it at a public rally in Islamabad, claiming it was the evidence of an “international conspiracy” being hatched to topple his government.
However, during the interrogation with the joint investigation team (JIT) in the jail on August 26, Khan denied that the paper he waved at a public gathering last year was the cypher. He also admitted to losing the cypher, saying he couldn’t recall where he kept it.
His principal secretary, Azam Khan, stated before a magistrate and the FIA that the Khan used it for his ‘political gains’ and to avert a no-confidence vote against him.
The purported cypher (secret diplomatic cable) contained an account of a meeting between US State Department officials, including Assistant Secretary of State for the Bureau of South and Central Asian Affairs Donald Lu, and Pakistani envoy Asad Majeed Khan last year.
Last month, authorities launched a case against Khan, Qureshi and former PTI Secretary General and Finance Minister Asad Umar under the violation of secret laws of the country.
“Consequent upon the conclusion of the enquiry.…it transpired that former prime minister namely Imran Ahmad Khan Niazi, former foreign minister namely Shah Mahmood Qureshi and their other associates are involved in communications of information contained in the secret classified document…to the unauthorised person (i.e. public at large) by twisting the facts to achieve their ulterior motives and personal gains in a manner prejudicial to the interests of state security,” read first information report (FIR) registered against the PTI leaders.
Earlier today, the same court approved PTI leader Asad Umar’s bail in the case against the surety bond of Rs 50,000. It also noted that Umar expressed willingness to join the cypher probe, but the prosecution did not investigate him in the case.
“If Asad Umar’s arrest is required, the FIA [Federal Investigation Agency] will proceed according to law,” the judge ordered, directing the authorities to inform Umar in advance before arresting him in the case.
