Barclays Bank's Major Clerical Error and Financial Fallout

Russia has decided to “dramatically” scale back its military activities in the Kyiv area, and Barclays faces a £450mn hit after the bank mistakenly issued $15bn-worth more of financial products in the US than it had permission to do so. Plus, the FT’s chief economics commentator, Martin Wolf, explains how the war in Ukraine is further disrupting the global economy. 

Mentioned in this podcast:

Russia says it will ‘dramatically reduce’ military activity around Kyiv

The VXX plot thickens with Barclays’ £450m structured notes loss

Putin’s war demands a concerted global economic response

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The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. 

Read a transcript of this episode on FT.com

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