Bankers seized on fresh evidence that the housing market may be starting to cool to urge the Bank of England to stay its hand and refrain from widely expected curbs on mortgage lending tomorrow. The British Bankers' Association described new data yesterday showing that mortgage approvals fell for the fourth month running as "significant" and argued that no substantive new measures were needed to take the heat out of the housing market. - The Times The US government has moved towards lifting a 40-year ban on oil exports by allowing two companies to sell ultra-light oil to foreign buyers. Pioneer Natural Resources, of Irving, Texas, and Enterprise Products Partners, of Houston, have been told by the Bureau of Industry and Security that they can export the oil, known as condensate, which can be turned into gasoline, jet fuel and diesel. The US has a glut of oil following a fracking revolution that promises to make the country the world's largest crude producer, ahead of Saudi Arabia and Russia. - The Daily Telegraph Royal Bank of Scotland is expected to face shareholder attacks at its annual meeting on Wednesday after paying out £3.4bn in bonuses in the past four years. Executive pay and Scottish independence will be centre stage at the loss-making bank's meeting at its Gogarburn headquarters on the outskirts of Edinburgh. RBS, which is 80% taxpayer-owned after receiving a £45bn bailout during the financial crisis, doled out £1.4bn in bonuses in 2010, with payouts falling to £576m last year, according to the Robin Hood tax campaign, which represents 115 UK organisations including Friends of the Earth and the TUC. - The GuardianThe Shard will host its first fiery shareholder meeting today as investors revolt against hefty pay packets for executives at the world's largest advertising agency. The battle between the board of WPP, where Sir Martin Sorrell is chief executive, and investors has flared up again in advance of the company's annual meeting to be held at the London landmark after it was revealed that he would receive total remuneration of nearly £30m for last year. - The Times Energy companies will be offered the chance to explore for shale gas across bigger blocks of land, under a revised system aimed at enticing them to commit to fracking. Ministers are expected to launch the '14th onshore licensing round', offering companies the chance to bid for exploration rights, within weeks. In previous licensing rounds companies would typically be awarded rights to drill over blocks spanning 100 sq km (39 sq miles) in return for committing to a plan of exploration work in the area. - The Daily TelegraphSpire Healthcare, one of the country's largest private hospital operators, has unveiled plans to join the stockmarket. The company, which owns 38 hospitals across the country, published its formal intention to float on the London stock exchange on Wednesday, confirming telegraph.co.uk's report on Tuesday and triggering the countdown for a share sale at the beginning of July. Spire, which has 8,000 employees, will be the first hospital chain to go public. - The Daily TelegraphAB
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