Barclays in big restructuring as Q4 profits slump

March 1, 2016 10:31 AM

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LONDON - 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.

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