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Barclays posts 182% hike in pre-tax profits to £3.23 billion

Credit: PA

Barclays has reported a 182% increase in annual pre-tax profits to £3.23 billion, up from £1.15 billion in 2015.

The banking giant's boss, Jes Staley said Barclays is "just months away" from completing an overhaul as he unveiled the surge in annual profits.

The bank also reported a four per cent rise in underlying pre-tax profits to £6.4 billion for its core business - Barclays UK and Barclays International.

Mr Staley, who has been selling down and offloading unwanted businesses to focus on US and UK operations, said the group had "accomplished a lot in a year".

He added: "We are now just months away from completing the restructuring of Barclays, and I am more optimistic than ever for our prospects in 2017, and beyond."

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Govt warns it could break 'Big Six' energy firms up

The Big Six energy companies were tonight warned the government would break them up if The Competition Authority were to recommend it.

The watchdog accused the firms of overcharging millions of customers who stay with the same supplier rather than shopping around for the best deals.

ITV Consumer Editor Chris Choi reports:

Car hire cheapest in Cyprus, survey finds

Car rental could set you back as much as £514 a week in Majorca. Credit: Reuters

British tourists could end up paying twice as much for car hire depending where they go on holiday this summer.

Rental fees in Majorca are twice as high as those in Cyprus, a survey by Post Office Travel Money found.

Other popular spots where charges were particularly high were Faro in Portugal, Split in Croatia and Dublin.

Taking into account expenses such as satnav hire, additional-driver cover and petrol the pricest destination was the Norwegian capital Oslo where hiring a car for one week would set you back as much as £614.

The cheapest place to rent a car was in Larnaca in Cyprus where one-week hire was just £295.

Hidden cash benefactor reveals next stash location

In an interview with ITV News, an anonymous British millionaire has brought a free money craze to our shores - and has given a large clue towards finding the next envelope of money:

£60,000 found floating in a Lincolnshire river

Police are appealing for information after banknotes worth around £60,000 were mysteriously found floating down a river in Lincolnshire.

A dog walker spotted the cash near to Spalding town centre last month.

Officers who recovered the banknotes say a large amount was damaged but a good quantity appear to be in fair condition.

They are now trying to trace the owner.

If they cannot it will become the subject of a court forfeiture order.

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