Asking prices for British homes fell in June for the first time in six years, indicating an earlier-than-usual summer slowdown amid mortgage market turmoil and expectations of further Bank of England interest rates increases, a survey showed on Monday.
China's central bank cut the borrowing cost of its medium-term policy loans for the first time in 10 months on Thursday, in line with expectations, as Beijing ramps up stimulus measures to shore up a shaky economic recovery.
China's biggest banks on Thursday said they have lowered interest rates on yuan deposits, in actions that could ease pressure on profit margins and reduce lending costs, providing some relief for the financial sector and wider economy.
Britain's largest mortgage provider Halifax will ramp up interest rates for new home loans on Wednesday, according to pricing provided to brokers, the latest major lender to do so in response to soaring funding costs.
Credit repair company PGX Holdings Inc was approved for a $12 million bankruptcy loan on Tuesday, which it will use to auction its assets after the U.S. Consumer Financial Protection Bureau successfully challenged its billing practices.