Judge approves Barclay's deal with US Justice Department

A judge in the United States has approved a deal that Barclays Bank PLC made with the US Justice Department to defer prosecution of the bank over allegations that it illegally engaged in financial transactions with banks in Cuba, Iran, Libya, Sudan and Burma.

Under the arrangement, Barclays will pay $298m (€231.4m) half of it to the US and the rest under an agreement with the Manhattan district attorney’s office in New York.