Barclays takes £750m charge in Q4

London

BARCLAYS took a £750 million (S$1.57 billion) charge in the fourth quarter as it prepares to settle allegations that its traders manipulated foreign exchange markets, overshadowing the bank's efforts to slash costs and boost profits.

Past conduct problems continue to dog Barclays chief executive Antony Jenkins, but despite the burgeoning budget for litigation, he accepted his first bonus since taking charge three years ago, helping to boost his total pay to £5.5 million from £1.6 million in 2013.