News Summary: Barclays reports new UK inquiry

Published July 27, 2012 5:21pm ET



DISCLOSURE: Barclays PLC faces a new investigation by financial services regulators in the U.K. and a new batch of class-action lawsuits in the U.S. related to its participation in alleged rate-fixing activities.

IMPACT: The revelation means that the European heavyweight could struggle to restore a public image tarnished by the scandal, which has drawn outrage on both sides of the Atlantic.

EARNINGS: The British lender reported a 9 percent gain in adjusted net profit in the first half of the year thanks to lower operating costs and modest growth in income, leading to an adjusted net profit of 3.1 billion pounds ($4.9 billion).