World News

US Fines British Bank in Energy Rate Manipulation Dispute

U.S. energy regulators have imposed $488 million in fines and penalties against Britain's Barclays bank and four former securities traders in a dispute over the price of electricity in the United States.

The U.S. Federal Energy Regulatory Commission on Tuesday ordered the bank and the traders to pay $453 million in penalties within the next 30 days and forfeit nearly $35 million in profits to help low-income homeowners in four western U.S. states to pay their energy bills.

The agency alleges that Barclays and the traders manipulated energy prices for a two-year period between late 2006 and the end of 2008.

Barclays said it believes its energy trades were legal and plans to "vigorously defend" itself against the charges.

Feature Story

UNICEF's Grev Lester Hunt meets with Ebola survivors who are forming a support group in Conakry, Guinea, on Sept. 29, 2014.

Photogallery Ebola Survivors Continue Healing Through Support Group

Guinea group's members find strength by encouraging each other, educating broader communities More

Special Reports