Barclays in big restructuring as Q4 profits slump – Business Insider

syndication.ap.orgA pedestrian passes cash points at a branch of Barclays Bank in London, Tuesday, March 1, 2016. Barclays PLC has revealed plans to split itself into two as it reported a big fall in fourth-quarter profits.The bank said Tuesday its adjusted pretax profit, which includes one-off items like provisions to pay for mis-selling policies in the U.K., fell by more than a half to 247 million pounds ($344 million) from the year before. (AP Photo/Kirsty Wigglesworth)

LONDON (AP) Barclays saw its shares plunge Tuesday after the bank revealed plans to split itself into two, simplify its operations and cut its dividend amid weaker earnings.

The bank said its fourth quarter adjusted pretax profit, which includes o…

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