Breaking News This Morning…
Barclays reported third quarter earnings of £611 million, or $799 million, “after losing £292 million in the same period last year, when it took a one-off charge. CEO Jes Staley sounded a cautiously optimistic note about the U.K. bank’s prospects of rebounding from the coronavirus pandemic,” the Wall Street Journal reported.
The bank “reported a big drop in provisions for bad loans in the third quarter as the initial economic shock from coronavirus subsided, while revenue at its trading arm continued to surge in turbulent markets, driving better than expected profits,” the Financial Times said. “The U.K. bank took £608 million of credit impairment charges in the three months. Although that was about a third higher than the same period last year, it was well below the £3.7 billion set aside in the first half of 2020 and less than the £1 billion that