Barclays shares have jumped after the bank announced it will cut 3,700 jobs this year following a strategic review, as pre-tax profits plunge due to mis-selling claims.
The cuts will include 1,800 jobs at its investment bank and 1,900 in European retail and business banking. Barclays currently employs 140,000 staff. It said the job cuts would result in a restructuring...
Simon Gergel, manager of the Merchants investment trust, forecasts a much tighter oil market this year and beyond, with a return to higher prices at some point.
The New Year started, as always, with a flurry of forecasts for the next 12 months. But with equity markets having one of their worst starts, a number of commentators have not had to wait as long as usual for some of their forecasts to look a touch optimistic.
To remain as consultant to firm
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Combined business will have £11.2bn AUM