Huge US fine 'another blow for Barclays'

US regulators have upheld a fine on Barclays and four of its traders of $453m (£300m) for allegedly manipulating electricity prices.

Barclays must pay £435m within 30 days, while one trader must pay $15m and three others $1m each.

Barclays must also forgo $34.9m in profits, which will be distributed to low-income aid programmes in Arizona, California, Oregon and Washington.

Barclays said it intended to "vigorously defend this matter".

The BBC's Michelle Fleury in New York said the fine was a blow for the bank's reputation following a number of other high-profile scandals.

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