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| Barclays quarterly profits fall 5% | Barclays quarterly profits fall 5% |
| (35 minutes later) | |
| Barclays adjusted pre-tax profits have fallen 5% after a reduction in investment bank income. | Barclays adjusted pre-tax profits have fallen 5% after a reduction in investment bank income. |
| The bank reported an adjusted profit of £1.69bn, hit by a 28% slump in revenue at its investment banking business. | |
| Barclays warned in April that its first quarter profits would be down from the previous year. | Barclays warned in April that its first quarter profits would be down from the previous year. |
| The bank's shareholders have been unhappy about bonus payments at the bank, given falling profits. | |
| The division at the investment bank which trades currencies, bonds and commodities had a particularly grim quarter - revenue dropped 41% to £1.23bn. | |
| Overall, income at the investment bank fell 28% to £2.49bn. | |
| The bank blamed "subdued client activity" and a reorganisation of the business. | |
| It also said comparisons with last year were tough as it had a relatively strong first quarter in 2013. | |
| However, Barclays said the performance of its retail banking division had been "resilient". |