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Barclays to cut 19,000 jobs by 2016

Europe’s fifth-largest bank Barclays has announced that it will cut 19,000 jobs over the next three years. 7,000 of the jobs will go in the British lender’s investment banking arm, which has seen its earnings plummet in recent months. Joshua Raymond from City Index tells us more. In other banking news, senators in Colorado have voted to create the world’s first financial system for marijuana.