Feb 16: Barclays profits up, bonuses down

Sharlene Goff, retail banking correspondent, analyses the forecast-beating profit increase at Barclays to £11.64bn and the role of Barclays Capital in driving a tripling of underlying pre-tax profits. She also assesses the bank's decision to lower its compensation ratio for BarCap staff, and last week's message from chief executive John Varley that "universal banks" are not necessarily riskier than those focused on fewer activities.