Barclays profits rise amid UK tax plans

Barclays reported a 12% increase in pre-tax profits to £2.3 billion for the July to September quarter and announced a £500 million share buyback, bringing total shareholder returns since January to £2.8 billion. The bank’s UK retail banking segment saw a 6% rise in net interest income to £2 billion. The results come ahead of a UK budget expected to increase bank taxes, with critics calling for banks to contribute more to public funds amid high profits.

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