Barclays profits slump by a third

Barclays revealed pre-tax profits for the first six months of this year came in at £2.6bn, down 33% from the same period last year, but beating analysts' forecasts of £2.4bn. Barclays Capital's half-year profit fell 9% on the year and income at the investment banking arm was down 11% to £6.26bn pounds, led by a fall in fixed income revenue. The bank was hit with a £1bn charge for settling claims of mis-selling of PPI. Chief executive Bob Diamond said: "I am pleased with the progress made across Barclays in the first half. We have performed well on our journey to a targeted 13% retu...