| Barclays is pulling out of commodities trading as its boss Antony Jenkins attempts to focus the investment banking arm on its most profitable and least controversial areas. Just days before Jenkins faces a storm of protests about bonuses at the bank's annual general meeting, Barclays will tell staff in its commodities arm that large parts of the operation are to be shut down or sold off.
The future of the commodities business – one of the world's biggest – is likely to figure in questions at Thursday's AGM where much focus is expected to be on a decision to increase bonuses by 32% after a year when profits fell 10% and shareholders were asked to back a £5.8bn cash call...............................................Full Article: Source
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