Barclays Launches £1 Billion Buyback After Traders Lift Earnings
The fixed-income desk brought in £1.45 billion, a rise of 26% compared with a year ago, while the equities desk made £870 million, an increase of 25% year-on-year. Both were ahead of analyst estimates compiled by Bloomberg.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
8 minutes ago
- Yahoo
Real Madrid forward leaning towards Liverpool, but move unlikely
Real Madrid are not planning any more groundbreaking arrivals this summer for they have already signed enough stars to elevate the squad from last season. A big sale, however, has not been ruled out. While Los Blancos are under no compulsion to sell, moving away players who are not in the manager's plans would help the books and Rodrygo Goes is seen as one who can make a move in that sense. The Brazilian youngster, while im[important for the club in recent years, saw his prominence fall last season. Now, his future is being called into question after it has become clear that the new manager prefers a system with only two forwards. England is calling Rodrygo has always been one to prioritise the Real Madrid crest over anything else but his forced position leaves him open to considering external offers. The Premier League, in that sense, is one that tempts him and he may well move to England. As relayed by Rodra in a recent report, the club that Rodrygo is most attracted to right now is Liverpool. However, a move right now looks unlikely. What does the future hold for Rodrygo? (Photo by) The player sees the project at the Merseyside club to be one where he can shine and continue to compete at the highest level on all fronts, for the club have done well not only domestically but also in Europe in recent seasons. The hurdle, however, is Arne Slot's team's sudden interest in splashing the cash on Alexander Isak this summer which will be very fund-intensive. Liverpool have already signed a striker this summer and could well drop the interest in Isak soon, something that will reopen the door to Rodrygo's arrival. At this point, however, the move looks unlikely. The Brazilian phenom has also received interest from Arsenal, Tottenham Hotspur and other top Premier League clubs. While the former refuse to meet his wage demands, the player does not fancy the latter option from a competitive standpoint. Given the situation, it is not entirely ruled out that Rodrygo ends up staying put at Real Madrid this summer despite all the speculations.
Yahoo
8 minutes ago
- Yahoo
LyondellBasell Industries NV (LYB) Q2 2025 Earnings Call Highlights: Strategic Adjustments Amid ...
Earnings Per Share (EPS): $0.62 per share. EBITDA: $715 million. Cash Returns to Shareholders: Over $500 million. CapEx Guidance for 2025: Reduced to $1.7 billion, a $200 million reduction from initial guidance. Cash Improvement Plan: On track to achieve a run rate of $600 million in incremental cash flow for 2025. Olefins and Polyolefins Americas EBITDA: $318 million, a more than 25% improvement from the first quarter. Olefins and Polyolefins Europe, Asia, and International EBITDA: $46 million. Intermediates and Derivatives EBITDA: $290 million, an increase of $71 million. Advanced Polymer Solutions EBITDA: $40 million. Technology Segment EBITDA: $34 million. Cash Balance: $1.7 billion at the end of the second quarter. Operating Rates: Olefins and Polyolefins Americas at 85%, Europe, Asia, and International at 75%, Intermediates and Derivatives at 80%. Warning! GuruFocus has detected 5 Warning Signs with LYB. Release Date: August 01, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points LyondellBasell Industries NV (NYSE:LYB) reported a strong safety performance with a top decile total recordable incident rate of 0.12, highlighting their commitment to operational safety. The company is strategically focusing on growing and upgrading its core businesses, particularly in regions with low-cost feedstocks like the United States and the Middle East. LYB is making significant progress in its cash improvement plan, targeting $600 million in cash flow improvements for 2025, up from the initial $500 million target. The company has successfully completed turnarounds at its Channelview complex, leading to improved operating rates and reduced downtime. LYB is advancing its circular and low-carbon solutions business, with projects like the MoReTec 1 chemical recycling plant in Germany progressing well. Negative Points The European market remains challenging for LYB due to high feedstock and energy costs, coupled with insufficient regulatory support, impacting global competitiveness. The company has decided to delay certain growth investments, including the Flex 2 project, due to current market conditions, which may impact future growth potential. LYB's cash flow from operations was negative in the first half of 2025, primarily due to working capital build and additional tax payments. The Advanced Polymer Solutions segment continues to face challenges with sluggish automotive production volumes and lower demand from construction and electronics. The Technology segment experienced a decline in EBITDA due to inventory cost adjustments and changes in sales mix, with subdued licensing activity across the industry. Q & A Highlights Q: Given the operating leverage and price increases, what sort of sequential lift should we expect in O&P Americas, and is there potential for additional price increases? A: (Peter Vanacker, CEO) We expect an $85 million improvement in Q3 due to less downtime following successful turnarounds. Operating rates are planned at 85%. (Kimberly Foley, EVP) Historically, back-to-back price increases are rare without major supply disruptions, but positive indicators like improved export demand and low global inventories suggest potential for a price increase in Q3. Q: With the current downturn, how secure is LyondellBasell's dividend, and what are your thoughts on shareholder returns? A: (Peter Vanacker, CEO) We will pay our Q3 dividend of $1.37 per share. Our liquidity remains strong at $6.35 billion, and we prioritize maintaining our investment-grade rating. We are not planning further share buybacks in 2025 and 2026, focusing instead on improving cash flow by at least $1.1 billion over these years. Q: Does the 2026 CapEx forecast of $1.4 billion include the potential benefit from the European asset sale? Also, can you elaborate on the precious metals opportunity in IND? A: (Agustin Izquierdo, CFO) The $1.4 billion CapEx for 2026 is based on our existing base. The $110 million reduction from the European asset sale will be realized once the transaction closes. (Aaron Ledet, EVP) We are transitioning to a silica-based catalyst in our VAM unit, which will gradually impact us through 2028. We realized $35 million from precious metal sales in Q2. Q: Can you comment on the general level of cash flow generation expected for 2025 and the factors affecting it? A: (Agustin Izquierdo, CFO) Our cash flow from operations was negative in Q1 due to a working capital build and additional tax payments. However, Q2 saw a positive cash flow of $359 million. We expect strong cash conversion in the second half of the year, targeting an 80% cash conversion for the full year. Q: Regarding MoReTec 2, was the decision to delay FID due to market dynamics or cash conservation, and how does this affect your circular strategy targets? A: (Peter Vanacker, CEO) MoReTec 1 is progressing well, and we see positive regulatory momentum in Europe. MoReTec 2's FID is delayed to align with market development and prudent capital allocation. We will complete front-end engineering and design by year-end and will proceed based on market conditions and brand owner commitments. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data
Yahoo
8 minutes ago
- Yahoo
Hugely popular Sutton Coldfield café announces move in expansion plans
A popular café in Sutton Coldfield has confirmed it is moving premises – but it is not going far away and will see a big expansion. Silver Tree Bakery tentatively opened in Sutton's Gracechurch Centre in the former Ernest Jones jewellers premises around a year ago. in August 2024. It was an expansion from the businesses' first shop in in a Scandi-style hut next to their homes in Water Orton Lane in Minworth, but a 'pop-up' which was initially due to stay until Christmas. Read more: 'Thanks guys, we'll miss you'- sadness as burger joint announces closure It first opened from Friday to Sunday to test the water, but was an immediate success and quickly expanded its opening times to a six-day-a-week operation from Tuesday to Sunday. The business also extended its lease beyond Christmas. Now the Silver Tree's owners have confirmed they are moving their town centre site. They will head just a few doors up to the former Office show shop premises which faces Bishops Court, opposite WH Smith's. The new shop will be a bigger unit than the current site and allow the business to offer a lot more. The owners say it is 'more than just an upgrade' and will be an 'extended version of everything you already love about Silver Tree'. The new shop will have an 'extended menu' and not be 'just grab and go'. It will have indoor and outdoor seating – but more of it. And 'real crockery & cutlery' is also being added. A new element will be a brand new private co-working area upstairs and a 'multi-use event space for the community'. In a post on Facebook, Silver Tree Bakery's owners, Kirsty Cosgrave and he brother, Kirk Bick, said: 'We've been a little quiet lately… but that's only because we've been working on something very exciting behind the scenes. 'As we approach our 1-year anniversary at Gracechurch, we're thrilled to finally (and officially) announce that Silver Tree Bakery is expanding — and yes, it's probably the worst kept secret in Sutton Coldfield. 'We've just picked up the keys to our brand new home at Unit 194 in the Gracechurch Shopping Centre, and we're getting to work straight away." Get the latest Sutton Coldfield news delivered direct to your inbox The post continued: 'We've listened to your feedback, and we're building something special, not just for us, but for you, our local neighbourhood hub. 'Massive thanks to Gracechurch, SAV Group, and BPG Holdings. They have big plans for the centre, and it's only right we have big plans too!' The new look Silver Tree Bakery will take a little while to put together with the opening expected in 'several months'. Elsewhere in the Gracechurch Centre, another café, Roma, has reopened after being closed for more than six months. The venue in the former Patisserie Valerie premises (version two, within the inner centre) had closed around Christmas-time. But its not back open with a staff member saying it is 'under new ownership and management'. It has retained the same menu.
