Bloomberg Some borrowers with interest-only mortgages may lose their homes as a result of shortfalls in repayment plans, the UK’s Financial Conduct Authority warned. The FCA has identified three peaks in interest-only mortgage repayments, the first of which is currently underway. Defaults are less likely in the present wave of maturities because the homeowners are approaching retirement and have higher ...

Bloomberg The only thing that might be colder than Toronto in January is the Canadian city’s housing market. While the bleak mid-winter is never the best time to sell a home in Canada, a string of open houses in the country’s largest city were chillingly empty on a recent afternoon. Tougher mortgage rules went into effect on January 1 just ...

Bloomberg Russia is hosting a Syria peace summit in the Black Sea resort of Sochi, with its hopes for securing an internationally-backed plan dashed as the opposition boycotts the initiative. More than two years since Russia’s military intervention in the war-torn country, it’s succeeded in decisively shoring up ally Bashar al-Assad. But even as the Syrian leader closes in on ...

WASHINGTON / Reuters The United States will resume admissions for refugees from 11 countries identified as presenting a high security risk, but with extra vetting for these mostly Middle Eastern and African nations, senior US officials said on Monday. The changes came after a 90-day review of refugee admissions from Egypt, Iran, Iraq, Libya, Mali, North Korea, Somalia, South Sudan, ...

Bloomberg The US identified 210 Russian billionaires and top officials in a sweeping list required under last summer’s sanctions law, but underlined that those named aren’t being targeted for new restrictions. The highly anticipated document, mandated by Congress over White House objections to punish Russia for alleged meddling in the 2016 election, had fuelled alarm in Moscow and threatened to ...

Bloomberg Mariano Rajoy is rallying his troops for a political fightback. But his troops aren’t so sure. The Spanish prime minister is encouraging some senior officials to run in regional elections next year as he looks to shore up his People’s Party’s power base, according to people familiar with his thinking who asked not to be named discussing party strategy. ...

Bloomberg Kenya’s main opposition alliance defied warnings of a crackdown and prepared to inaugurate its leader as a so-called people’s president, threatening to deepen the East African nation’s political crisis. Thousands of National Super Alliance (Nasa) supporters thronged Uhuru Park on the edge of Nairobi’s city center by late Tuesday morning, awaiting the arrival of their leader Raila Odinga. The ...

Bloomberg China’s top banks — the biggest in the world — have typically traded below the value of their assets on concern over rising bad debt and falling profitability. That’s starting to change, and quickly. A recent surge in the Hong Kong-traded shares of China’s Big Four state banks lifted their average price-to-book value ratio to 1. That’s the highest ...

Bloomberg Lloyds Banking Group Plc is changing the way it reports some of its key numbers ahead of its annual results next month. The earnings of the consumer finance unit, whose assets increased by 12 percent to 39.2 billion pounds ($54.8 billion) in 2016, will be merged with the retail division, according to a memo sent to investors and seen ...

Bloomberg Inflation expectations in Mauritius are contained for now, leaving room for the central bank to stick to its accommodative stance to support economic growth, Governor Yandraduth Googoolye said as he prepares to chair his first Monetary Policy Committee meeting next month. The pick-up in the average rate of price growth in the 12 months through December was due to ...