UK housing recovery spurs 'bubble' warnings

The U.K. housing market recovery is gathering speed according to the latest data and is set to be further supported by government funding schemes, but some are warning the measures could spur a housing bubble and the government should instead be tackling the lack of housing supply. On Tuesday, the British Bankers Association (BBA) reported that mortgage approvals hit a 17-month high in June, totaling 37,278. Approvals were up 32.4 percent compared to June 2012.

Duchess of Cambridge gives birth to baby boy

Britain's Duchess of Cambridge delivered a baby boy Monday afternoon, an event analysts said would be "overwhelmingly positive" for the U.K. economy. The child of the Duchess of Cambridge Kate Middleton and Prince William will be third-in-line to the throne. Middleton gave birth in the private wing of Saint Mary's hospital in London.The boy, whose name was not immediately revealed, weighed 8 pounds, 6 ounces.

US Futures Get Lift from DuPont, Travelers Earnings

U.S. stock index futures moved higher on Tuesday as the busiest day so far of earnings season kicked into gear. Dow component DuPont reported profit that beat expectations by a penny and said it is exploring selling its performance chemicals unit. The news sent shares up more than 2 percent in premarket trading. While dozens of companies are reporting, the greatest anticipation is being saved for Apple, which Wall Street expects to show a $7.32 per share profit and $35 billion in revenue an in after-the-bell report. Shares edged higher in the morning. Apple's sales are closely watched for what they say about the broader industry. Technology has been one of the most disappointing sectors so far, with results fromMicrosoft, Google, and Intel missing analysts' forecasts.

Breaking News: UPS posts earnings of $1.13 a share, matching estimates!

UPS posts earnings of $1.13 a share, matching estimates!
Analysts had expected the company to report earnings excluding items of $1.13 a share on $13.59 billion in revenue, according to a consensus estimate.

Europe Shares Mixed

 European shares were mixed in morning trade on Thursday, even as they continued to stabilize after a heavy sell-off last week, and as investors looked ahead to unemployment data due out from Germany. The FTSEurofirst 300 Index was higher following gains in the U.S. and Asia.

EU Strikes Deal on Who Will Pay for Bank Bailouts

Finance ministers from the European Union reached a deal in the early hours of Thursday to set up rules about who would have to foot the bill for any future bank bailouts to avoid costs to tax payers. According to the new rules, shareholders, bondholders and depositors with more than 100,000 euros ($132,000) could end up sharing the burden of saving a bank. Analysts say the negotiations on how to deal with bank failures are crucial to restoring confidence in the euro zone, which has been hit hard by a debt crisis, and the deal helps pave the way towards establishing a banking union in the single-currency bloc.

Italy Faces Restructured Derivatives Hit

Italy risks potential losses of billions of euros on derivatives contracts it restructured at the height of the euro zone crisis, according to a confidential report by the Rome Treasury that sheds more light on the financial tactics that enabled the debt-laden country to enter the euro in 1999.