Feb. 12 - Barclays is axing at least 3,700 jobs and pruning its investment bank as its new boss, Antony Jenkins, put his stamp on the troubled British bank by aiming to cut 1.7 billion pounds ($2.7 billion) in annual costs and raise standards after a series of scandals. Rough Cut (no reporter narration).
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(ROUGH CUT - no reporter narration)
The plans form part of an overhaul which Chief Executive Antony Jenkins hopes will convince a sceptical public that he can change a bank which has been dogged by controversy, including a $450 million fine for rigging Libor interbank lending rates.
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