Barclays boss fined
British regulators and Barclays have fined the bank’s CEO, Jes Staley, a combined £1.1m after he tried to identify a whistleblower who sent letters criticising an employee.
The Financial Conduct Authority and the Bank of England’s Prudential Regulation Authority said last Friday they had fined Staley £642,000. That included a 30% discount for him agreeing at an early stage to settle. Barclays imposed a £500,000 cut to his 2016 pay.
File-sharing and storage company Dropbox beat Wall Street expectations for quarterly results last Thursday and topped estimates for paying subscribers in its first financial report as a publicly traded company. However, the company’s shares, which had gained 10% last week ahead of the earnings, slipped 4% in extended trading on the day. The company said the number of paying subscribers had surged 23.7% to 11.5m at the end of March, topping analysts’ average estimate of 11.3m, according to Thomson Reuters I/B/E/S. Dropbox started as a free service to share and store photos, music and other large files, and has worked to build up its enterprise software offering.