UK banks 'less profitable than overseas rivals' - today's papers

The UK banking sector has fallen behind its main competitors since the global financial crisis, a report has said.

Four years ago, UK banks were the second most profitable in the world behind those in the US, but they have now dropped to fifth place, according to the Banker magazine.

It said the UK banking industry had been overtaken in the past four years by China, Japan and France. MORE (from the BBC)...

The strains on the UK economy have been laid bare by new data showing that inflation expectations are rising to dangerous levels at the same time as growth is slipping and consumer confidence evaporating. MORE...

America will cause a "severe shock" to world financial markets should Congress fail to agree an increase in the country's debt ceiling in a month's time, the International Monetary Fund (IMF) has warned. MORE...

Senior policymakers told the banks to put their house in order yesterday to restore public trust in their battered reputations. MORE...

The banking industry has received rare political support after a senior politician questioned the Government's determination to force the country's largest lenders to ring-fence their retail banking arms. MORE...

The housing market has "moved sideways" in the past six months, the Nationwide has said, as house prices remained unchanged in June. MORE...