Barclays Bank

Barclays raised its price target for Tesla from $370 to $450 and upgraded its rating from "Equal Weight" to "Overweight." Analyst Dan Levy cites the possible merger with SpaceX as a central topic of discussion, which Elon Musk has reportedly confirmed. Barclays also assesses the core business as robust and sees progress in the robotaxi business. Tesla shares gained as much as about 5.5% in NASDAQ trading, trading around $393.12. » Altro su finanzen.net

Barclays will cut around 5,000 jobs following increased adoption of artificial intelligence; 1,000 positions have already been eliminated and the remainder is to be cut by the end of 2026 (about 5% of the workforce). In the third quarter, profit attributable to shareholders rose 13% to £1.65 billion, and total income increased 3% to just under £7.4 billion, though parts of the figures fell short of analysts’ expectations. Investment banking revenues lagged expectations, while Barclays reduced provisions for loan losses. CEO C. S. Venkatakrishnan said the bank is on track for 2026–2028 and announced a £0.5 billion share buyback. » Altro su manager-magazin.de

The British major bank Barclays plans to cut around 5,000 roles by the end of the year, about five percent of its 93,000 employees, and will replace many positions with AI solutions. About 60 percent of the reductions affect support functions, such as software development; the impact is mainly in retail banking and partly in investment banking. The aim is structural cost savings of around £300 million to create room for further technology investments. » Altro su n-tv.de