By Daniel Hunter

Barclays is to end its sponsorship of the cycle hire scheme in London when the deal ends in 2015. The bank has provided £25m but following a "strategic review" it has changed its decision to provide a further £25m for expansion of the scheme.

The Mayor of London, Boris Johnson, had said in 2011 that Barclays would continue to sponsor the scheme until 2018, three years after the initial deal runs out.

Transport for London (TfL) said Barclays is not pulling out, and that there was instead a mutual agreement not to extend the deal.

Barclays has also denied that there is any link between the decision and the recent deaths of cyclists in London.

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