Barclays cuts 5,000 jobs as profits jump ahead of looming bank tax; French bond yields hit fresh 24-year high – business live

UK bank says 1,000 job cuts already done with a further 4,000 to go before year end; French risk premium over German bonds widest since 2011 as oil prices climb Barclays also said it is cutting 5,000 jobs, amounting to about 5% of its workforce, our banking correspondent Kalyeena Makortoff reports .

Its chief financial officer, Anna Cross , told journalists on a call that 1,000 of the job cuts have already been…