British bank Barclays is reportedly to cut 2,000 jobs from its investment banking business.
New boss Antony Jenkins is set to unveil plans to slash annual costs by at least 2.3 billion euros as he delivers his first set of annual results as chief executive on Tuesday.
The Financial Times reported there would be reductions in investment banking in Asia, and in retail and commercial banking in parts of Europe.
Barclays is also expected to shut one of its most profitable units that advises multinational companies on lowering their tax obligations.
The Structured Capital Markets division was the subject of public anger after it emerged it was saving firms millions off their tax bills.
- 1Former Greek finance minister confirms there was a secret ‘Grexit’ plan
- 2Oil price stability on the horizon as companies cut jobs and costs
- 3Chinese stock meltdown and Windows 10 debut
- 4Microsoft says Windows 10 is a “new era” in personal computing
- 5Golden shot: China shocks the commodities market with reserves revelation
- 1euronews live TV - News | euronews : the latest international news as video on demand
- 2Russia unveils ‘straight’ flag, internet responds
- 3Seven reasons why Yanis Varoufakis is now a political legend
- 4Greek crisis: ‘Agreement reached’ after marathon talks
- 5International news | euronews, latest international news
- 6Nasa announces the discovery of an earth-like planet
- 7Is Saudi Arabia outlawing rainbows for being gay?
- 8Pluto: New Horizons space probe provides closest-ever pictures
- 9International breaking news | euronews online world breaking news in video
- 10French actor Gérard Depardieu ‘a threat to Ukraine national security’
- 11BREAKING: Formal nuclear deal reached with Iran, says diplomat
- 12Latest News Bulletin
- 13Greece votes ‘No’ in overwhelming rejection of bailout proposals
- 14Berlusconi linked with a shock return to government – in Russia!
- 15At least 10 dead in explosion in Turkish town close to border with Syria
- 16Greece clinches deal with eurogroup after marathon talks
- 17‘Imposed’ bailout deal must be implemented, says Greek PM
- 18Israel angry as Iran and West talk up nuclear deal
- 19Dudamel’s gift of Beethoven to brotherly Bogota
- 20European Union News | euronews: latest breaking news and headlines about European Union
Wires > Business
- 10:17 CET IMF to visit Ukraine in Sept to discuss third loan tranche -…
- 10:10 CET FTSE-Russell boosts London Stock Exchange’s first-half earnings
- 09:24 CET Alibaba pins U.S. growth hopes on Goldman’s China rainmaker
- 09:14 CET ING’s underlying net up 21 percent on loan, deposit growth
- 09:09 CET SocGen targets more capital, savings as results top expectations
- 08:27 CET Motorola receives $1 billion investment from Silver Lake – NYT
- 08:24 CET Legal & General first-half operating profit rises 18 percent
- 07:58 CET Exclusive – India likely to bring in rules to make mills export…