November 15, 2007

Barclays takes 1.3 billion-pound hit in credit crunch (AFP)

A Barclays branch in London. Barclays bank has said it has taken a 1.3-billion-pound (1.8-billion-euro, 2.7-billion-dollar) hit since the start of turmoil on the credit markets caused by the US home loan crisis.(AFP/File/Leon Neal)AFP – Barclays bank on Thursday became the latest high profile financial institution to announce hefty losses linked to the US subprime mortgage crisis and consequent global credit crunch.

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