Barclays linked to Japanese bank tie-up

Barclays is close to sealing a £470m (€596m) capital injection from Japan’s third largest bank as it seeks to boost its funding, according to reports today.

The banking giant is said to be in talks with Sumitomo Mitsui Financial Group over a potential 100 billion yen deal, which would reportedly see the Japanese firm take a 2% or 3% stake in Barclays.