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Barclays takes huge charge for forex probes

Saturday, November 1, 2014 - 05:50
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BALANCING ACT: Barclays, which has been plagued by scandals in recent years, has set aside £500 million (S$1 billion), and this hit profits hard.

London

SCANDAL-HIT British bank Barclays revealed a huge charge for probes into allegations it rigged foreign-exchange market prices, cutting into quarterly profits reported.

The bank has set aside £500 million (S$1 billion), and this hit profits hard. "A £500-million provision has