Barclays Slashing Japan Fixed Income Jobs Amid Cost Pressures

Barclays is experiencing its best day since 2017 despite a $2 billion charge for PPI insurance claims, part of a scandal costing the UK banking sector $65 billion. Analysts are concerned about potential impacts on dividends and buyback programs, but some remain optimistic. Barclays is also cutting costs globally, including staff reductions in Japan, to counter weaker investment bank profits. Despite recent gains, European banks are trading near all-time lows, contrasting with broader market highs.

What significant financial event is Barclays experiencing despite a large charge for PPI insurance claims?

• Its best day since 2017

• A suspension of its buyback program

• A major drop in stock prices

• Its worst day since 2017

What is the total estimated cost for Barclays due to the PPI insurance scandal?

• $100 billion

• $2 billion

• $14 billion

• $65 billion

What is the analysts' expectation regarding Barclays' dividend amidst the extra charge?

• It will be suspended

• It will be reduced

• It will increase

• It will remain intact

What action is Barclays taking in Japan to manage costs?

• Opening new branches

• Expanding its workforce

• Cutting staff in its fixed income unit

• Increasing salaries

How have European banks, including Barclays, been performing in the market compared to broader indexes?

• Maintaining stable performance

• Experiencing rapid growth

• Trading close to all-time lows

• Trading at all-time highs