Bad assets division drags Barclays down
Profits fell by more than half in second quarter
British bank Barclays has said its profit fell by more than half in the second quarter as it posted a £1.1 billion pre-tax loss from the division which houses the businesses and assets its trying to sell or wind down.
Pre-tax profit, excluding notable items, fell to £763m from £1.62 billion a year ago, the lender said in a statement. That missed the £985m average estimate of six analysts compiled by Bloomberg.
In ...
