Lending to businesses has collapsed by the largest amount in more than four years, the Bank of England has found, with the shock decline sharply contrasted by the biggest rise in mortgage lending since 2008.
Facebook now accounts for one out of every five minutes people spend on mobile phones in the US, the social network revealed, as it unveiled second-quarter results.
Chime Communications, the London-listed sports marketing company, is in advanced discussions to sell itself for more than £350m to Sir Martin Sorrell's WPP and US buyout group Providence Equity Partners.
The Financial Conduct Authority's director of supervision, Tracey McDermott, says: 'Firms should have in place systems to manage the risks posed by benchmark activities.
Banks have to beef up their risk management controls or face the expensive consequences of building up bigger capital buffers, the Bank of England said, in the latest drive to make banks more stable.