Barclays: Profits down as bank announces 3,000 job losses

2nd August 2011

In another blow to UK jobs, the bank announced jobs losses of 3,000.

Significantly £2.3bn of profit came from Barclays Capital, its investment banking division.

Shares were up around 2 per cent in early trading.

Reuters focused on a fall in bond trading, noting that Barclays Capital's half-year profit fell 9 percent on the year and income at the investment banking arm was down 11 percent to £6.26 billion pounds, led by a fall in fixed income revenue.

On the Telegraph's message boards, commenter bank charge recovery notes that the PPI £1bn is only a provision at the moment and writes:

"Although Barclays have provided £1 billion for PPI claims they have not paid it out. They will only pay it if it is claimed from them. If you had a PPI claim you must still make a claim. You are also entitled to reclaim over limit and late payment charges on your credit cards."

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