The Press and Journal (Inverness, Highlands, and Islands)

Re­tailer and bank feels the pinch

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Bar­clays sank to­wards the bot­tom of the FTSE 100 yes­ter­day as it booked a loss on the back of pay­ment pro­tec­tion in­sur­ance charges and a £1.4 bil­lion set­tle­ment with US au­thor­i­ties.

The bank­ing gi­ant posted pre-tax losses of £236 mil­lion for the three months to March 31, hav­ing re­ported prof­its of £1.68 bil­lion in the same pe­riod last year.

Bar­clays’ shares fell by 1.41%, or 3p to £2.10p as the wider FTSE 100 climbed 42.11 points to 7,421.43.

Embattled re­tailer Car­petright won the back­ing of cred­i­tors and land­lords for a re­struc­tur­ing plan that will spark store clo­sures and hun­dreds of job losses. Shares ended the ses­sion up 1p to 39p.

Car­petright has ear­marked 81 stores for clo­sure as part of a vol­un­tary ar­range­ment, which al­lows firms to shut loss-mak­ing out­lets and se­cure rent re­duc­tions.

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