Bloomberg Sales of previously owned US homes unexpectedly fell in May for a second month as a lack of inventory and elevated asking prices weighed on demand, National Association of Realtors (NAR) data showed. The drop in sales was led by declines in purchases of single-family homes and cheaper properties, according to NAR, indicating that the market is being driven by …

Bloomberg Banks in the European Union won a battle to soften new rules on how failing firms are restructured, as the bloc’s parliament staked out its position on a sweeping overhaul of rules for the financial industry. Lawmakers backed a cap on the loss-absorbing liabilities that regulator can force troubled banks to hold. The ceiling could help to hold down …

Bloomberg Norway’s central bank is seen firming up plans to lift interest rates “after summer” as the richest Scandinavians leave their oil shock behind them. As Norway moves from a recovery to an outright expansion, policy makers in Oslo are becoming less focussed on the krone and are preparing to tighten ahead of colleagues in Frankfurt and Stockholm. “Norges Bank …