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WASHINGTON (AP) — After a dismal start to the year reflecting a harsh winter, the U.S. economy showed signs of rebounding in the spring, with many forecasters expecting growth to be even stronger in the second half of the year.
Britain's scandal-hit lender Barclays posted surging first-half net profits on Wednesday, sending its share price soaring, as it pushed ahead with a restructuring that will shrink its investment bank division. Barclays, which has been plagued by a series of scandals in recent years, added that it was buoyed by its personal and corporate banking and its credit card unit, amid a major group-wide restructuring. In response, the bank's share price leapt to the top of the London stock market, gaining 4.08 percent to 228 pence on the capitals falling FTSE 100 index. Adjusted pre-tax profits however sank seven percent to £3.349 billion in the first half, hit by a 46-percent slump at its investment banking operations.