Barclays to quit majority of commodities businesses
Barclays will exit from most of its metals, energy and agricultural trading but remain trading precious metals, some oil and gas instruments, and index products, the bank said. The smaller business will be focused on electronic execution, it said.
Barclays is expected to next month unveil a wider reduction in the size of its investment bank, as it attempts to cut costs and improvise profitability by axing areas that have been hardest hit by tougher regulations. ■