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UK mortgage lending jumps in June, business lending plunges

LONDON - British mortgage lending picked up strongly in June, adding to signs that the housing market is regaining momentum, but a sharp drop in lending to businesses was a reminder that the economic recovery has yet to find a sounder footing.

Recent Business News

Bank of England creates capital buffer for banks to absorb losses

LONDON - The Bank of England has made changes to the way banks hold capital above the mandatory minimum in an effort to increase transparency and better absorb losses in the event of a financial shock, such as a housing market crash.

UK 7:22pm BST

MasterCard's revenue misses estimates on higher incentives

- MasterCard Inc , the operator of the world's second largest payment network, reported lower-than-expected quarterly revenue as the company offered more rebates and incentives to win new and renewed deals.

8:07pm BST

Exclusive - FCA's Chrysler group faces U.S. product drought through 2016

DETROIT - Fiat Chrysler Automobiles NV will face a shortage of new products in North America over the next 18 months, especially hot-selling trucks and crossover vehicles, according to three sources familiar with the company's plans.

8:25pm BST

Volkswagen lowers sales goal as China growth slows down

BERLIN - Volkswagen lowered its global sales forecast on Wednesday and said it was braced for stagnant volumes in China, after years of double-digit growth in its biggest market.

5:13pm BST

Zurich Insurance says any RSA bid likely to be all in cash

ZURICH - Zurich Insurance Group said that any offer it might make for British rival RSA would likely be in cash, a day after it said it was weighing a bid.

4:28pm BST
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