The UK's banks have been told to find an additional �13.4bn of capital this year on top of the balance sheet-strengthening measures they had already been planning.

UK retail sales recorded a larger-than-expected rise last month, helped by a strong increase in food sales. Sales rose 2.1% in May from the month before, and were up 1.9% from a year earlier, according to the Office for National Statistics (ONS).

SINGAPORE--The Singapore dollar was lower against the U.S. dollar on Thursday as traders piled into the U.S. unit after Federal Reserve Chairman Ben Bernanke pointed to a tapering of bond buying toward the end of the year.

Sebastian James, Dixons' chief executive, said the chain had experienced a "tablet explosion" last Christmas and, given that less than a third of British households have a tablet, there is "lots of road left in this particular product".

The Scottish first minister has backed a break-up of RBS to split its risky investment bank from its mainstream retail and business lending arm.