Barclays profits jump ahead of looming bank tax; French bond yields hit fresh 24-year high – business live

French risk premium over German bonds widest since 2011 as oil prices climb above $111 a barrelGood morning, and welcome to our rolling coverage of business, the financial markets and the world economy.Barclays’ profits jumped in the last quarter and it handed more cash to shareholders as further bank taxes looms in John Healey’s budget next Wednesday.I am pleased with the ongoing momentum of Barclays’ operational and financial performance.With one quarter to go before the end of our original three-year plan, we have either achieved or are on track to achieve all of our 2026 group targets. We are confident in and committed to the 2028 targets that we laid out earlier in the year.A UK bank tax risk is now a base case. If it is confirmed on 28 October, it’ll be the size and timing that will be key. If Healey does go ahead, shares of Lloyds and NatWest, which are almost entirely exposed to the UK, would likely be impacted most, and you are seeing this already in the share price reaction today. Barclays is partly exposed. HSBC is least exposed in the mix.10am BST: UK index-linked gilt 2031 action11am BST: UK CBI Industrial tends survey11.50am BST: Bank of England governor Andrew Bailey speech1.30pm BST: US Initial jobless claims for week of 17 October3pm BST: Eurozone consumer confidence flash for October3m BST: US Conference Board leading index for September Continue reading...