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Barclays has set aside £500m to cover potential costs from investigations into currency trading.
Barclays is among several banks being probed relating to alleged rigging of currency markets. It also set aside an extra £170m to compensate customers wrongly sold PPI.The bank reported a rise in pre-tax profits for the first nine months of the year to £3.72bn from £2.85bn a year earlier as costs and bad loans fell.The Serious Fraud Office and Financial Conduct Authority are among more than dozen regulators across the world probing alleged fixing of currency markets.
Hedging productsIt is alleged that traders used online chatrooms to plan the fixing of benchmark prices.....Read more here
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