Morning Wrap: today's top business stories

News stories from around the web.

New Statesman

Barclays fined $470m over US power prices (FT)

The US electricity market’s overseer has slapped Barclays with a record $470m penalty over manipulating power prices, in the latest heavy regulatory sanction against the UK bank.

China vows to step up bribery probes (FT)

China has vowed to step up its fight against bribery, just days after police revealed details of a wide-ranging investigation into UK drugmaker GlaxoSmithKline.

UK unemployment falls by 57,000 to 2.51 million (BBC)

UK unemployment fell by 57,000 to 2.51 million in the three months to May, the Office for National Statistics says.

Driving licences should be graduated, says RAC Foundation (BBC)

Learner drivers in the UK should face a graduated system of licences to help reduce road deaths, says a report by the RAC Foundation.

Vodafone free to complete £9bn Kabel deal after Liberty admits defeat (Telegraph)

Vodafone is free to complete a £9.1bn deal for Germany’s largest cable company, Kabel Deutschland, after rival bidder Liberty Global admitted defeat.

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