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  • Melrose's £7.4bn GKN bid approved by US and Canadian competition authorities
    
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  • Old £10 note goes out of circulation this week – what to do with your notes
    
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  • Revealed: The most stressed city in the UK (and it's not London)
    
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  • Carillion ex-finance chief under fire for selling shares at 'first possible moment' before collapse
    
  • Tighten labour laws to get young people out of insecure work, think tank urges 
    
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  • Ella's Kitchen boss: 'Retailers don't like you getting too big, they like choice'
    
  • Coal groups urge Lloyds of London to do more to fight coal-fired power
    
  • Donald Trump's US tax reform gives Warren Buffett a $29 billion boost
    
  • Provident tests the water on £500m rights issue
    
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  • Thousands of jobs at risk as Toys R Us readies for collapse
    
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  • RBS boss hails 'symbolic' first profit since financial crisis but stock slides on US fine fears
    
  • Dominic Chappell ordered to pay £87,000 for failing to give information about BHS sale
    
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  • End fixation on economic growth, says Labour's McDonnell
    
  • China takes control of insurance giant Anbang
    
  • Ofcom eases price controls on Openreach broadband
    
  • Pearson returns to profit as turnaround continues
    
  • Standard Life Aberdeen starts chairman search as Sir Gerry eyes exit  
    
  • Tech giants face UK tax overhaul as Treasury says they must pay more 
    
  • Market report: Bid talk sends Flybe’s shares soaring 
    
  • Former Carillion finance director thought pension contributions a 'waste of money', trustee chairman says
    
  • Barclays boss Staley promises hike in investor payouts despite £1.9bn loss
    
  • Rio Tinto consults on moving jobs away from London
    
  • Barclays criticised for 'shocking' pay gap with women paid half what men earn at investment bank
    
  • Malaysian gambling crackdown continues to weigh on Playtech
    
  • Boss of Southern Rail operator says it will bid for contract again after 'bloody good job'
    
  • Sales growth miss takes some of the puff out of British American Tobacco
    
  • Serco boss calls for greater outsourcing transparency in the wake of Carillion's collapse
    
  • British gas owner Centrica to cut 4,000 jobs as profits tumble
    
  • Anglo American vows to keep cutting debt after paying biggest dividend in a decade
    
  • Forties pipeline dents GDP growth but promises rebound in 2018 
    
  • BAE Systems spies future opportunities with Typhoon jets but flat forecast disappoints
    
  • Amey buys Carillion rail contracts, saving 700 jobs
    
  • Moneysupermarket shares plunge as investors told not to expect growth 
    
  • Kaz Minerals edges closer to long-awaited dividend on surging profits
    

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WASHINGTON - Surging mortgage defaults whacked U.S. banks and thrifts in the second quarter. Profits fell 3.4 percent to $36.7 billion, and reserves to cover loan losses soared 75 percent from a year ago, regulators said Wednesday. Results for the nation’s financial institutions from the Federal Deposit Insurance Corp. showed that higher expenses for non-current loans, along with lower interest from investments, hurt profits in the April-June period.  More…

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