Barclays reports 7% drop in profitsJuly 30, 2014 - 11:06 AMT PanARMENIAN.Net - Barclays' six-monthly pre-tax profits have fallen after investment bank revenue fell, according to BBC News. The banking giant reported pre-tax profits of £3.35bn, hit by an 18% fall in income at its investment banking business. Profits adjusted for exceptional items fell 7% compared with the first six months of last year. Barclays said in May that it would cut 7,000 investment bank jobs, as part of 19,000 roles to be axed. "Performance in the investment bank was impacted by the repositioning under way, as well as difficult trading conditions in the quarter, but it is where we expected it to be at this point," Barclays group chief executive Antony Jenkins said. The adjusted profit figures did not include £900mln that the bank said it had set aside for Payment Protection Insurance (PPI) mis-selling claims. Related links: Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. Ucom General Director gives lecture at French University in Armenia The General Director of Ucom Ralph Yirikian delivered a lecture at the French University of Armenia. Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. |