Barclays faces further US fines

Never a dull moment at Barclays these days as they reel from crisis to crisis. This time the US authorities are threatening a fine of £300 million for alleged manipulation of US Energy markets back in 2006 to 2008.

They are also looking to fine individual traders involved that have caused significant losses to various US States that used the energy markets to cover their obligations and hedge exposure.

Barclays has just posted a loss of £47 million for the quarter to September, having to make further provision for misselling of PPI  that now totals £2 billion.

However, they are not alone as far as this particular transgression goes, as Lloyds bank have just announced they are setting aside a further £1bn for to meet PPI claim, now totalling an enormous £5.3 billion.