Barclays reports third-quarter pretax profit of $1.46 billion

“Barclays reported a worse than expected profit before tax for the third quarter of 1.1 billion pounds ($1.46 billion) as a weak trading performance in its investment bank dragged down group results” writes Justin Solomon for The profit figure for the quarter was well below the 1.43 billion pounds average of analysts’ estimates compiled by the bank.Barclays said it had cut compensation in its investment banking unit by 25 percent for the period.

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