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

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...