Barclays Hits Highest Annual Profit on Record: The London Rush

Barclays Plc: The bank announced a share buyback of up to one billion pounds after its dealmakers compensated for a slump in trading activity, leading the bank to its highest annual profit on record.

The banks’ remuneration committee suspended former CEO Jes Staley’s unvested pay awards pending the ongoing FCA and PRA investigation into his relationship with financier and sex offender Jeffrey EpsteinGroup finance director Tushar Morzaria will retire from the role in April and be replaced by Anna Cross

Aston Martin Lagonda Global Holdings Plc: The carmaker’s Chair Lawrence Stroll sees the company as an “ultra-luxury performance brand,” and says it has transitioned to that model under his leadership.

Customer demand is well ahead of supply, he said, and profitability is increasing

Peel Hunt Ltd.: The broker says the backdrop for capital markets activity has been “particularly challenging” as inflation and interest-rates concerns weigh on investor sentiment.

The company now expects full-year revenue to be marginally below the bottom of the previously guided range, while earnings will be “commensurately lower than current market expectations”

Outside The City

The International Monetary Fund announced it would start a virtual mission to Ukraine that, if successful, will pave the way for the country to get more aid to shore up its economy after its standoff with Russia escalated. At stake is $700 million in disbursements the government in Kyiv expects to receive after the mission is completed.

Ukraine’s dependence on foreign funds has increased since neighboring Russia started to mass troops at the country’s borders in November, leading to warnings from the US and NATO of an invasion. Moscow denies such intentions.

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