FCA says to toughen up crowdfunding rules
LONDON Crowdfunding platforms that offer home loans should be regulated like mortgage lenders to improve safety and transparency for customers, Britain's Financial Conduct Authority said on Friday.
SEOUL South Korea has extended bidding on a $7.3 billion (8.3 trillion won) fighter jet project after a second round of bidding ended on Friday with three aviation makers offering prices above the estimated cost, South Korea's news agency said.
South Korea opened the bidding on June 18 to import the country's 60 next-generation fighter jets between 2017 and 2021 and has since carried out about 30 bidding sessions, yet the offers were over the budget, South Korea's Yonhap News Agency said citing the state's Defense Acquisition Program Administration (DAPA) officials.
Lockheed Martin Corp's (LMT.N) F-35A, Boeing Co's (BA.N) F-15SE and EADS' EAD.PA Eurofighter Typhoon are in the running to win the fighter competition.
"The bidding ended, and an additional bidding will resume on July 2," said Baek Yoon-hyeong, spokesman for the defence acquisition agency, according to Yonhap.
The project, called F-X, is South Korea's largest arms import ever.
(Reporting By Jane Chung; Editing by Michael Perry)
LONDON Britons expect a sharp rise in inflation over the coming year following the plummet in the value of sterling after Britain's vote to leave the European Union, and more now believe a hike in interest rates is on the way, a Bank of England survey showed.
BERLIN Mass-selling German newspaper Bild heaped criticism on European Central Bank President Mario Draghi on Friday, a day after the ECB said it would extend its massive stimulus programme for the euro zone.