News

Some Bank of England regulators wanted lenders to be forced to raise even more fresh capital than the £25 billion they were told to produce last week, minutes from the latest meeting of the financial policy committee indicate.

Bunhill: Troubled banker

IT'S been a tiresome fortnight for Martin Taylor, the new chief executive of Barclays Bank. After nine working days in the saddle, his diary looks something like this. Day two: Brighton businessman announces he was charged pounds 110 by his Barclays bank manager after he (the businessman) took said manager out to lunch and footed the bill. Day three: A survey - hotly contested by the bank - claims Barclays overcharges 43 per cent of its business customers by an average of pounds 963. Day five: Barclays announces 3,000 jobs cuts. Day seven: Barclays revealed as having big exposure to the troubled German group Metallgesellschaft. Day nine: Barclays said to have biggest exposure to risky guarantees to Lloyd's names.

Industry turns to the professionals: Gone is the well-heeled amateur in the old school tie. In the 1990s, the ideal management type in Britain is a battle-hardened pro, honed by fierce competition and two recessions and armed with a university education. Nicholas Faith charts the progress of an industrial revolution

When Martin Taylor, formerly managing director of Court aulds, took over as chief executive of Barclays Bank on 1 January at the tender age of 41, it seemed the ideal of meritocratic management had finally triumphed, even in a notorious citadel of nepotism. (Barclays had for generations promoted members of its founding families to the top jobs.)

Football Round-Up: Ormondroyd's rescue

MORE goals than currants in a mince pie were digested by the 21,000 spectators at Filbert Street yesterday as Leicester City traded strike for strike with Watford, writes Nick Duxbury. Two goals in the last two minutes rounded off a 4-4 draw, with Brian Little's Leicester requiring an Ian Ormondroyd header to pick up a promotion-chasing point against the club fourth from the bottom of the First Division.

Profit warning knocks shares in Courtaulds

SHARES in Courtaulds Textiles slumped 54p to 489p after the company was forced into a second profit warning this year because of deteriorating trading conditions in Europe, writes Neil Thapar.

Football: Byrne lights bright spark

Oxford United. . . .2

Pembroke: Hint of an heir at Hanson

MORE PUFFS of white smoke from the Knightsbridge offices of Hanson, where a new series of board changes sheds a little more light on the possible successor to Lord Hanson.

Football: Pembridge strike stuns the leaders

Charlton Athletic. . .1

City File: Martin Taylor

MARTIN Taylor's appointment as chief executive of Barclays bought much praise for his management style. But Wednesday's half-year results at his old company, Courtaulds Textiles, will show even he is not perfect.

Letter: Pictures of war that are over the top

Sir: Further to the letters from Jane Carmichael and Trevor Harvey (20 August) concerning the possibly staged picture of troops going 'over the top' (18 August), your readers may be interested to know that the Department of Printed Books, Imperial War Museum, has recently re-published the autobiography of Lt Geoffrey Malins, How I Filmed the War.

Change of style at Barclays: Martin Taylor will bring an outsider's approach to the clearing bank. Patrick Hosking reports

FOR close observers of the banking industry, the sartorial signals were puzzling. On Thursday, the day of his appointment as the new chief executive of Barclays Bank, Martin Taylor presented himself to the outside world in a banker's dark suit, traditional striped tie and black brogues.

Bunhill: Martin Taylor

I rush off to the archives when I hear that Martin Taylor, a Lex columnist with the Financial Times from 1978 to 1982, is to be the new chief executive of Barclays. Alas, there is no excoriating attack on the bank in the faded pink pages. Only a niggle in August 1982 over the bank's 'apparent nonchalance' about Third World debt. Lex (aka Taylor) proved prescient. Over the next decade, Barclays proceeded to lose several billion pounds on bad loans to poor countries.

City File: Drugs worry

MEDEVA, the troubled drugs group, will remind shareholders on Tuesday that it is looking for a new chief executive. Bernard Taylor - the former chief executive of Glaxo and no relation to the Martin Taylor who has just joined Barclays - needs to strengthen his board to restore investor confidence.

City: Dynamic duo

HAS Andrew Buxton, executive chairman of Barclays, pulled off a master stroke in appointing a talented young upstart like Martin Taylor to the post of chief executive, or has he signed his own death warrant?

Pembroke: Cadbury taste

It is ironic that the long-awaited splitting of the chairman and chief executive roles at Barclays Bank involves a chain of players for whom the separation of the twin pillars of corporate power has not come easily.

Barclays picks Taylor to lead its recovery: Appointment of Courtaulds Textiles chief ends months of uncertainty over top roles at UK's biggest bank

BARCLAYS Bank has turned to industry to help engineer its recovery, appointing Martin Taylor of Courtaulds Textiles as its new chief executive.
Career Services

Day In a Page

Independent Travel
Lake Garda, Venice & Verona from £629pp
Dubrovnik
Vietnam
Bruges
South Africa
Spain
Prices correct as of 12 December 2014
Homeless Veterans appeal: 'You look for someone who's an inspiration and try to be like them'

Homeless Veterans appeal

In 2010, Sgt Gary Jamieson stepped on an IED in Afghanistan and lost his legs and an arm. He reveals what, and who, helped him to make a remarkable recovery
Could cannabis oil reverse the effects of cancer?

Could cannabis oil reverse effects of cancer?

As a film following six patients receiving the controversial treatment is released, Kate Hilpern uncovers a very slippery issue
The Interview movie review: You can't see Seth Rogen and James Franco's Kim Jong Un assassination film, but you can read about it here

The Interview movie review

You can't see Seth Rogen and James Franco's Kim Jong Un assassination film, but you can read about it here
Serial mania has propelled podcasts into the cultural mainstream

How podcasts became mainstream

People have consumed gripping armchair investigation Serial with a relish typically reserved for box-set binges
Jesus Christ has become an unlikely pin-up for hipster marketing companies

Jesus Christ has become an unlikely pin-up

Kevin Lee Light, aka "Jesus", is the newest client of creative agency Mother while rival agency Anomaly has launched Sexy Jesus, depicting the Messiah in a series of Athena-style poses
Rosetta space mission voted most important scientific breakthrough of 2014

A memorable year for science – if not for mice

The most important scientific breakthroughs of 2014
Christmas cocktails to make you merry: From eggnog to Brown Betty and Rum Bumpo

Christmas cocktails to make you merry

Mulled wine is an essential seasonal treat. But now drinkers are rediscovering other traditional festive tipples. Angela Clutton raises a glass to Christmas cocktails
5 best activity trackers

Fitness technology: 5 best activity trackers

Up the ante in your regimen and change the habits of a lifetime with this wearable tech
Frank Warren column: 2014 – boxing is back and winning new fans

Frank Warren: Boxing is back and winning new fans

2014 proves it's now one of sport's biggest hitters again
Jeb Bush vs Hillary Clinton: The power dynamics of the two first families

Jeb Bush vs Hillary Clinton

Karen Tumulty explores the power dynamics of the two first families
Stockholm is rivalling Silicon Valley with a hotbed of technology start-ups

Stockholm is rivalling Silicon Valley

The Swedish capital is home to two of the most popular video games in the world, as well as thousands of technology start-ups worth hundreds of millions of pounds – and it's all happened since 2009
Did Japanese workers really get their symbols mixed up and display Santa on a crucifix?

Crucified Santa: Urban myth refuses to die

The story goes that Japanese store workers created a life-size effigy of a smiling "Father Kurisumasu" attached to a facsimile of Our Lord's final instrument of torture
Jennifer Saunders and Kate Moss join David Walliams on set for TV adaptation of The Boy in the Dress

The Boy in the Dress: On set with the stars

Walliams' story about a boy who goes to school in a dress will be shown this Christmas
La Famille Bélier is being touted as this year's Amelie - so why are many in the deaf community outraged by it?

Deaf community outraged by La Famille Bélier

The new film tells the story of a deaf-mute farming family and is being touted as this year's Amelie
10 best high-end laptops

10 best high-end laptops

From lightweight and zippy devices to gaming beasts, we test the latest in top-spec portable computers