Richard Hunter, Head of Equities at Hargreaves Lansdown (LONDON:HRGV) joined Tip TV to talk about the key headlines over the weekend.
Barclays PLC (LONDON:BARC) to take axe to retail business?
The obvious area of interest was the news surrounding Barclays and the prospective decision to slash more than 30,000 jobs following the resignation of CEO Antony Jenkins.
Barclays ex CEO Jenkins ousted over investment/retail battle?
Hunter noted that while not confirmed, the rumours are gathering momentum and vigor and looks to be connected to disagreements at board level regarding the future of Barclays and whether the company would lead as a retail or investment bank. Hunter feels that the sacking of Jenkins implies that investment banking may be the future of the company.
Germany to consider debt restructuring
Looking to Greece, Hunter comments that Merkel’s recent comments regarding considering debt restricting could indicate some calm before the storm ahead. He feels that she personally is not going to be moved by debt forgiveness or hair cuts, but could move to give Greece the chance to repay debt and overcome their collapsing economy. He added that now Greek banks have reopened and the capital controls have been raised to €420 per week.