Barclays profits jump ahead of looming bank tax; French bond yields hit fresh 24-year high – business live
French risk premium over German bonds widest since 2011 as oil prices climb above $111 a barrel Here’s our full story on Barclays : Barclays is giving a further £500m to shareholders after reporting a jump in quarterly profits, as the lender steels itself for an increase in UK bank taxes at next week’s budget. Barclays’ bumper profits aren’t an anomaly. All the big banks are doing exceptionally…
Barclays reported a 12% increase in pre-tax profits to £2.3 billion for the three months ending 30 September, as the bank prepares for potential UK bank taxes in Chancellor John Healey's upcoming budget. The bank's UK retail banking operations saw a 6% rise in net interest income to £2 billion. Barclays' profits for the year now stand at £8.4 billion, a 15% increase compared to the previous year.
The TUC has called for higher bank taxes to fund a social energy tariff, which could raise up to £60 billion over four years. Barclays has also announced a £500 million share buyback, bringing the total returned to shareholders this year to £2.8 billion, a 46% increase compared to the previous year.
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