Barclays’ third-quarter profit was lower than last year’s and below expectations at £1.1bn, with trading at the investment banking arm dragging down group results. German banking giant Deutsche Bank today also saw trading revenues decline (by 30 per cent) in the third quarter, worse than analysts’ expectations. Determined that his cost-cutting plans will eventually bear fruit chief executive John Cryan insisted he will carry on until his contract ends in 2020. In Sweden Nordea, which will be moving its headquarters to Helsinki soon, announced that 6,000 jobs are to be axed to stay competitive.
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