The Press and Journal (Inverness, Highlands, and Islands)
Retailer and bank feels the pinch
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.