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Europe: Britain's Barclays (BARC.L) will axe 19,000 jobs in the next three years and set up a "bad bank" to house much of its investment banking business and European retail operations as it strives to turn itself around in the face of a trading slump.
Chief Executive Antony Jenkins has taken a knife to Barclays' investment bank, once the group's profit engine, after a slide in revenues, a string of senior departures and a row with shareholders over bonuses.
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