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Barclays confirms plans to exit most commodities businesses

Posted on 23 April 2014

Barclays PLC confirmed plans Tuesday to exit most of its commodities businesses and focus on electronic trading in the markets it stays in. The bank, which is trying to reduce the size of its investment bank to improve returns and cope with new regulations, said it would continue to trade in precious metals, financial oil, U.S. financial gas and index products.
The Wall Street Journal and other publications had reported over the long Easter weekend that the bank would exit base metals and other physical commodities. “This decision is in line with Barclays’s stated objective to actively evaluate and manage our businesses, ensuring they meet strict economic and strategic criteria within the new regulatory environment,” the bank said……………………………………….Full Article: Source


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