EUROPE - Five banks have been fined €1.07 billion (£935 million) by the European Commission after traders clubbed together to rig the foreign exchange market. Four banks in the "Banana Split" cartel - Barclays, RBS, Citigroup and JP Morgan - were fined €811 million in all. Three banks in the "Essex Express" cartel - Barclays and RBS again, plus MUFG - were fined €258 million. A sixth bank, UBS, was excused financial penalties for revealing the cartels' existence. The European Commission said the market-rigging took place from 2007 to 2013.