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
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.
- 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.
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.
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.
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.
- Gold: PRECIOUS-Gold inches up after Fed leaves door open to Sept rate hike
- Oil Report: UPDATE 2-U.S. Coast Guard investigates oil slick off California coast
- British Pound Report: Sterling slips to two-week low versus resurgent euro
- US Dollar Report: FOREX-Dollar rises as Fed's jobs view hints at rate hike