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Barclays (BCS) reportedly intends to slash at least £2B from its £20B annual cost...

Barclays (BCS) reportedly intends to slash at least £2B from its £20B annual cost base as part of an overhaul that CEO Anthony Jenkins is due to unveil tomorrow. Under "Project Transform," Barclays will scale back its investment-banking activities in Asia, as well as some operations in Europe. Barclays also plans to cut its tax-avoidance unit, which has generated huge profits but is seen as toxic to the bank's battered reputation.
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