Reuters British finance minister George Osborne said that homeowners would face a “significant hit” from lower house prices and higher mortgage costs if voters decided to leave the European Union in a referendum in June. “This isn’t just a big question about who we are as a country. This goes to the heart of people’s financial security,” Osborne said ...

  Bloomberg Two of Australia’s largest lenders, which tightened home loans to some foreigners, said they uncovered mortgages backed by questionable overseas-income documentation. Australia & New Zealand Banking Group Ltd. and Westpac Banking Corp. have identified issues with some loans that rely on foreign income for approval, the two lenders said in separate e-mails. The statement comes after the two ...

  Bloomberg After almost four years of negative interest rates, Danish policy makers need to act now to prevent a housing bubble, according to the IMF. “We strongly encourage the authorities to take early action to lean against the wind on house price increases,” David Hofman, IMF mission chief to Denmark, said. “We see a need for action on a ...

  Bloomberg Governor Chris Christie’s warning of Hurricane Sandy-like destruction of the New Jersey shore will be tested as the worst storm season in three years approaches and beachfront homeowners delay his building protective dunes along all 127 miles of the state’s coast. Christie, a second-term Republican, has been battling with property owners in court over his plan to erect ...

  Bloomberg Deutsche Lufthansa AG said passenger fares are set to erode further this year as it grapples with unions over a restructuring of European operations aimed at stemming the flow of customers to discount rivals. The stock fell as much as 7.1 percent. Lufthansa’s yield, a measure that reflects average ticket prices, suffered the biggest drop in at least ...

  Bloomberg Investec Bank’s aviation arm made its first foray into financing the Airbus Group SE A380 superjumbo with a deal to purchase four jets operated by Emirates before leasing them back to the Dubai-based carrier. Investec will pay a total of $1 billion for the double-deckers, of which two are new and owned by Emirates, with the other two, ...

  Bloomberg JetBlue Airways Corp. resumed talks with Bombardier Inc. about a possible order of the planemaker’s C Series aircraft, after a pause in discussions earlier this year, people familiar with the matter said. The two sides began meeting over the jetliner in the second half of last year, but broke off negotiations about two months ago, said the people, ...

  Bloomberg HNA-Caissa Travel Group Co. plans to raise as much as 8 billion yuan ($1.2 billion) through a private share sale as the Chinese tourism and catering company seeks funds to expand its cruise and global-travel services. The company’s controlling shareholder HNA Tourism Group and as many as nine other investors will buy the shares, HNA-Caissa said in a ...

  Bloomberg London’s delivery companies are experimenting with electric vehicles to curb the smog spewed by vans distributing parcels packed with goods purchased on the Internet. The UK capital’s transport authority is catalysing the transition from diesel to battery-powered vehicles by funding Gnewt Cargo Ltd., which operates London’s largest all electric delivery fleet. Gnewt is part owned by shipping DX ...

  Madagascar / AFP The sweet flavours of vanilla are taking on a bitter edge for buyers in Madagascar as prices have almost quadrupled but quality has declined, with experts blaming speculation, money laundering and a poor harvest. Madagascar, producer of 80 percent of the world’s vanilla, has seen the spice’s price jump from about $60 per kilogramme (2.2 pounds) in ...