Barclays chief executive CS Venkatakrishnan has warned that increasing taxes on banks would harm economic growth. He cautioned that higher levies would reduce lending capacity, noting that for every pound of capital retained, banks lend £8 to £10 into the economy. The comments come amid speculation that Prime Minister Andy Burnham and Chancellor John Healey could impose a windfall tax on banks. The Trades Union Congress has lobbied Labour to raise the bank surcharge from 3% to 35%, claiming it could generate £60bn. Barclays reported pre-tax profits of £3.3bn for the second quarter, up nearly one-third year-on-year. Venkatakrishnan emphasised support for the government's growth commitments whilst highlighting the importance of sustaining investment in financial services.

Barclays reported strong second-quarter results, with income rising to £8.3 billion and profit before tax up more than 30% to £3.3 billion. Return on tangible equity reached 16.1% in the quarter. The bank raised its 2026 income target to approximately £31.5 billion. The company announced £1 billion in share buybacks and an £800 million interim dividend. First-half distributions totalled £2.3 billion, up 61% year over year. Barclays is accelerating efficiency efforts, delivering £350 million in first-half savings with plans for up to £500 million in additional structural cost actions. UK businesses generated returns above 20%, whilst strong investment bank performance offset pressure in the US consumer bank. The bank's CET1 capital ratio stood at 14.3% at quarter-end.

BCP Topco IX Pte. Ltd. has pledged its entire 30.55% stake in Mphasis Limited to secure a USD 550 million term loan. This direct pledge replaces an indirect encumbrance from a 2021 facility, which was fully repaid. The new lending syndicate includes major banks like Citibank and Barclays, marking a consolidation of lenders from 35 to nine entities.