Bank sets aside further £600m for payment protection insurance mis-selling as it reports a 25% rise in first-half profits

Barclays set aside £1.8bn in the first half of the year to compensate customers for a string of mis-selling scandals and fines.

The figure was revealed as John McFarlane, the chairman who is standing in as chief executive following the ousting of Antony Jenkins earlier this month, pledged to accelerate the disposal of risky businesses, cut costs at the scandal-hit bank and also scale back the dividend policy.

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Source: The Guardian Circular Economy RSS