Staley: Our Presence in Europe Important for Continent
Barclays Plc said profit fell by more than half in the second quarter as the bank posted a 1.1 billion-pound ($1.4 billion) pretax loss from the unit that houses the businesses and assets its trying to sell or wind down. Pretax profit, excluding notable items, fell to 763 million pounds ($1.01 billion) from 1.62 billion pounds a year ago, the lender said in a statement Friday. That missed the 985 million-pound average estimate of six analysts compiled by Bloomberg. “Non-core rundown -- the key to unlocking the full earnings power of that core -- has good momentum, and we remain committed to closing the unit in 2017,” Chief Executive Officer Jes Staley, 59, said in the statement. Staley discusses with Bloomberg's Anna Edwards on "Countdown."