Barclays profits fall by a third

Barclays this year pre-tax profits is £2.6bn for the first six months which is  down 33% from last year.

The bank also said it aimed to downsize at least 1,400 more jobs in 2011, having cut 1,400 posts already this year.

The decline in half-year profits was partly caused by a £1bn provision for settling claims of mis-selling of payment protection insurance (PPI).

However the bank reported a recover of bad debts and said it was on course to meet targets for UK business lending.