Barclays drops court battle over 2008 Qatari deals to ‘draw line under’ issue

Barclays reported lower earnings and cut its profitability forecasts, as it revealed it is considering cutting costs (Alamy/PA) -

Barclays has been hit with a £40 million fine after abandoning a court battle with the UK’s financial watchdog over deals struck with Qatari investors during the 2008 financial crisis.

The bank had been due to challenge the Financial Conduct Authority’s (FCA) decision in the Upper Tribunal court in London this week.