Barclays profits jumped 44pc to £3.95bn in the first six months of the year boosted by a sharp drop in bad debts and its investment banking division. The investment bank, Barclays Capital, once again produced the majority of the profits with a trebling in earnings to £3.4bn. Charges for debts that have turned sour fell [...]
Interest rates will have to rise earlier and more sharply than expected to keep inflation under control, two former Bank of England policy-makers have warned. Sir John Gieve, an ex-deputy Governor, and Charles Goodhart, a previous member of the Monetary Policy Committee, are the most senior economists yet to have opposed the current orthodoxy that [...]
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