barclays

Shareholders lashed out at bank management for its plan to raise $10.5 billion, mostly from Middle Eastern investors, who will receive preferred stock in return.

Shareholders of Barclays PLC, Britain's second largest bank, were on course Monday to vote in favor of a plan to raise 7 billion pounds ($10.5 billion), largely from funds in the Middle East.

Barclays PLC said Wednesday that institutional investors had bought all the 500 million pounds ($750 million) of preferred stock offered to them on Tuesday.

Shares in Barclays bank fell 10 percent Wednesday following a report that major shareholders were resisting the company's plan to raise additional capital from the Middle East.

Britain's Barclays bank said Thursday it has bought the Italian residential mortgage business of Australia's Macquarie bank.

Barclays plans to raise $11.8 billion by selling shares to Abu Dhabi and Qatar to meet Britain’s new capital requirements for banks without the government’s help.

Barclays PLC says it is seeking up to 7.3 billion pounds ($11.8 billion) from Middle Eastern investors as it tries to avoid resorting to a British government bailout.

Britain will launch its biggest bank rescue on Monday when the four largest, HBOS, Royal Bank of Scotland, Lloyds TSB and Barclays, ask for a $60.5 billion lifeline, the Sunday Times reported.

A bankruptcy judge approved a plan just after midnight Saturday under which Lehman Brothers will sell its investment banking and trading businesses to Barclays.

British bank Barclays is buying most of what's left of the bankrupt investment bank for $1.75 billion, saving the jobs of about one-third of Lehman's U.S. staff.