Econ 101: July 3, 2012

Welcome to ThinkProgress Economy’s morning link roundup. This is what we’re reading. Have you seen any interesting news? Let us know in the comments section. You can also follow ThinkProgress Economy on Twitter.

  • The CEO of Barclays resigned yesterday with the bank at the center of an interest rate fixing scandal. [Reuters]
  • GlaxoSmithKline will pay $3 billion in the largest health care fraud settlement in American history. [Washington Post]
  • Utility crews are still struggling to restore electricity to millions of homes that lost it following last weekend’s storms. [Associated Press]
  • A heat wave gripping the U.S. is threatening this year’s wheat harvest. [Financial Times]
  • Former brokers say that JP Morgan Chase emphasized its own sales over the needs of clients. [New York Times]
  • The Securities and Exchange Commission will vote in August on new rules requiring oil companies to disclose payments to foreign governments. [The Hill]
  • According to a new study of the National Assessment of Education Progress, test scores for Native American students have stagnated. [Education Week]