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Traffic blocked for Highway 42 northbound at I-43 intersection due to tipped tanker truck

TOWN OF SHEBOYGAN, WI (WHBL) -  Traffic is closed to part of the I-43/Highway 42 intersection due to a tipped tanker truck at one of the roundabouts. The incident occurred around 9:45 this morning on the south roundabout, the one closer to Texas Roadhouse and Hardees.  Sheboygan County Sheriff's Sgt. Doug Tuttle said the situation is not hazardous and no major leakage from the tanker is taking place. For now, all traffic on Highway 42 towards Howards Grove at the roundabout is clo...

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FERC approves $1.5 million settlement with Deutsche Bank

By Scott DiSavino

(Reuters) - A unit of German bank Deutsche Bank AG agreed to pay a civil penalty of $1.5 million to settle allegations by U.S. federal energy regulators of power market manipulation in California, according to an order on Tuesday.

In the order, the U.S. Federal Energy Regulatory Commission (FERC) said Deutsche Bank also agreed to disgorge "unjust profits" of $172,645.

The bank neither admits nor denies the violations, according to the order.

FERC's enforcement unit alleged the Deutsche Bank unit manipulated the California power market by losing money on physical transactions to profit in derivative markets. The bank has disputed those allegations.

The Deutsche Bank action is part of a larger effort by FERC to target electricity trading schemes reminiscent of the market manipulations by Enron and others that led to the California energy crisis more than a decade ago.

FERC has also proposed a record $470 million fine on Barclays Plc for allegedly manipulating power markets in California and a six-month ban on JPMorgan Chase & Co's energy trading arm from some U.S. power markets.

(Reporting By Scott DiSavino and David Sheppard in New York; Editing by Gerald E. McCormick and Nick Zieminski)

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