Barclays annual profit falls 6%, unveils overhaul to boost shares

LONDON: Barclays reported its annual profit fell 6%, in line with expectations, as Chief Executive C.S. Venkatakrishnan set out plans including cost cuts, a management overhaul and asset disposals to improve the bank’s performance and lift its share price.

Barclays eyes up to 900 job cuts in Britain

The British lender on Tuesday reported a pretax profit of 6.6 billion pounds ($8.31 billion), down from 7 billion pounds the year before and in line with the 6.7 billion pounds average of analysts’ forecasts as compiled by the bank.