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Thursday, October 30, 2014

Barclays takes $800M provision over forex probe



MarketWatch.com - Financial Services Industry News http://ift.tt/1tRDUko LONDON-- Barclays PLC on Thursday reported a fresh GBP500 million ($800 million) legal provision related to investigations into the alleged manipulation of the foreign-exchange market. The charge weighed down what was otherwise a brighter quarterly performance by the British bank. After stripping out the charge and other one-off items, Barclays posted a better-than-expected adjusted third-quarter pretax profit of GBP1.59 billion, 15% higher than last year's GBP1.39 billion and beating analyst expectations of around GBP1.21 billion because of lower-than-expected restructuring costs in the three-month period.


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