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Barclays Takes $1.2 Billion Charge in Currency-Rigging Probe
Barclays Plc set aside an extra 750 million pounds ($1.2 billion) to cover the cost of settling the probe into alleged currency rigging and posted a 32 percent drop in full-year pretax profit at its investment bank. The shares fell. The provision was 50 percent larger than the estimate of Jason Napier, a banking analyst at Deutsche Bank AG, and brings the total Barclays set aside in 2014 for a potential settlement into allegations it manipulated benchmarks in the foreign-exchange market to 1.25 billion pounds. Pretax profit at the investment bank fell to 1.4 billion pounds. Chief Executive Officer Antony Jenkins, 53 ... (full story)
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