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Published: 14.02.2025
Total Summaries: 5
Barclays Shares Drop 5% Following Mixed Financial Results and Guidance
Barclays' shares fell by 5% after the bank reported a 24% rise in pre-tax profit to £8.108 billion for 2024, slightly surpassing expectations. However, net profit of £5.316 billion disappointed analysts, who anticipated £5.449 billion. The fourth-quarter profit also missed forecasts. Barclays aims for a net interest income of £7.4 billion in 2025, but its cautious outlook failed to excite investors. The bank is undergoing a strategic overhaul and has faced challenges from the U.K. economy and competition in the banking sector.
Source: CNBCUK Economy Grows by 0.1% in Q4, Surpassing Expectations
The UK's economy expanded by 0.1% in the fourth quarter, according to the Office for National Statistics, contrary to predictions of a 0.1% contraction. Growth was driven by the services and construction sectors, while production fell by 0.8%. The Bank of England recently cut interest rates to 4.5% due to sluggish growth and declining inflation. Chancellor Rachel Reeves defended her fiscal policies amid criticism regarding tax increases on businesses. Economists have downgraded growth forecasts for 2025, citing higher taxes and weaker global demand as contributing factors.
Source: CNBCCommerzbank to Cut 3,900 Jobs by 2028 Amid Strategic Changes
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Read extended summarySources (7)AppLovin Stock Rises Nearly 30% Following Strong Earnings Report
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Read extended summarySources (7)X Settles $10 Million Lawsuit with Trump Over Account Suspension
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Read extended summarySources (7)