Barclays restructures amid profits fall
Tuesday, March 01, 2016
Underlying annual profits for 2015 fell 2% to £5.4bn. The bank said it would cut its dividend by more than half to 3p per share in 2016 and 2017.Barclays also announced a further £1.45bn provision for PPI mis-selling.
While the political shift brings hope for change, it also places immense pressure on the new administration to deliver on its election promises in the face of serious economic challenges.On another level, newly appointed Finance Minister Ndaba Gaolathe’s grim assessment of the country’s finances adds urgency to the moment. The budget deficit, expected to be P8.7 billion, is now anticipated to be even higher due to underperforming diamond...