American, Iranian and Syrian military aircraft buzzed the skies of Iraq yesterday, conducting parallel surveillance missions and airstrikes as the global battle to halt a Sunni militant offensive grew more intense and complex, drawing in old enemies to the same side. While the southward offensive towards Baghdad appears to have stalled, gains by the Islamic State of Iraq and al-Sham (Isis) in Anbar have brought fresh jitters to the capital. - The Times
Royal Bank of Scotland (RBS) chairman Sir Philip Hampton has warned that further branch closures are “inevitable” as the state-backed lender continues to tackle its financial restructuring. Addressing shareholders at the group’s annual meeting in Edinburgh, Sir Philip also insisted that RBS will maintain its neutral stance in the run-up to the independence referendum, and said it is considering its options should voters choose to break away from the rest of the UK in September. - The Scotsman
Royal Bank of Scotland has told Mark Carney that lenders should make decisions about mortgage policy, on the eve of the Bank of England introducing new rules intended to cool the housing market. Ross McEwan, chief executive of the taxpayer-backed lender, said: “We should be thinking about [the safety of our bank] before any regulator asks." Mr Carney, the Bank’s Governor, is on Thursday expected to announce new measures clamping down on risky home loans at the biannual Financial Stability Review. - The Telegraph
David Cameron faces humiliation at a two-day European summit opening on Thursday in his quixotic campaign to stop Jean-Claude Juncker becoming the next head of the EU executive. Berlin brushed aside his opposition to Juncker on Wednesday, acceded to British insistence on a summit vote on the issue on Friday and announced that it had a "very big majority" in its support. - The Guardian
Barclays Bank (BARC) was last night charged with “fraud and deceit” in its dealings with investors by New York’s attorney-general. Eric Schneiderman accused the bank of operating a “dark pool” to the disadvantage of its clients and for the benefit of high-frequency traders. - The Times
More than £10bn of taxpayers' money a year is being paid to just 20 private companies, according to figures from the Institute for Government thinktank and the data analysts Spend Network. Their report found the biggest suppliers hired by departments and councils were IT firms, but construction and outsourcing companies also featured heavily in the top 20. - The Guardian
