Chancellor George Osborne has kicked off Britain's biggest ever privatisation by selling �2bn of shares in Royal Bank of Scotland at a loss to the taxpayer seven years after the bank was rescued with a record �45bn state bailout.
A private security guard sits in front of a closed-down business in the colonial district of Old San Juan, Puerto Rico. Photograph: Ricardo Arduengo/AP.
The full extent of the damage caused by the Greek crisis was laid bare when the first day of stock market trading after five weeks of economic paralysis saw shares lose a sixth of their value.
... * HSBC sells Brazil unit at higher-than-expected price. * Deal helps Bradesco boost presence in high-end segment. * Bradesco preferred shares fall 4 percent.
Energy stocks were the biggest losers among the main S&P sectors on Monday. Exxon Mobil and Chevron, which reported poor results on Friday, led the losses.