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Barclays to close 'tax avoidance' unit

Barclays is to close down a controversial part of its business which helps clients avoid tax, the BBC understands.

The bank will announce that part of its Structured Capital Markets (SCM) business will be axed as part of a wide-ranging strategic review.

The move comes as part of the bank's attempts to improve its image following a string of scandals.

The company is expected to make the announcement when it full year results on Tuesday.

Richard Bilton reports.

  • 10 Feb 2013
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