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Barclays said that it "strongly disagreed" with findings by US energy regulator FERC (Federal Energy Regulatory Commission) that it manipulated US energy markets and is ready to appeal the record $470m (£290m) fine imposed by the body.
US regulators FERC (Federal Energy Regulatory Commission) has threatened Barclays with a record fine of $470m (£290m) to settle allegations of manipulation of Californian electricity markets.
The bank and four traders are accused of rigging the markets over two years from 2006.
FERC has given Barclays 30 days to appeal against the fine.