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The Financial Conduct Authority (FCA) has warned that the payday loan companies might be banned from advertising in the country.

Martin Wheatley, chief executive of the FCA said banning advertising from the industry members is one of the option for the regulator as it looks to begin regulation of the industry from April next year. The industry might join cigarette companies and political parties in being banned from placing advertising in the British media.

Online dating company, Cupid has been cleared from allegations that the site was using fake profiles to increase subscribers, following an investigation.

Publishing giants, Random House and Penguin have completed their merger to create a new leading book publishing company.

Markus Dohle, chief executive of the new entity wrote in a letter to the staff members that, "As we begin this new chapter in our history, I am in the truly privileged position of being able to announce a team of such depth and breadth of experience, underpinned by passion for our industry, our authors, and the books we publish."

According to the latest data released, the total youth unemployment level in the countries that make up the Eurozone have risen to 23.8 per cent.

The data showed that the prolonged debt crisis in the Eurozone continues to impact the jobs market with young people being affected the most. The overall unemployment rate in the euro zone rose to 12.1 per cent in May compared to 12.0 per cent in April, according to Eurostat, which is the European Union's statistics office.

The authorities in the UK might appoint Rothschild as an advisor on a proposal to break up the Royal Bank of Scotland Group, which is the largest state-owned lender in the country.

According to a media report that cited people closer to the matter, the appointment of Rothschild might be announced this week. Rothschild will begin a review of the bank and will conclude the process by September. The breakup will of the bank will allow the independent entities to adop steps to revive tis operations.

Greg Abbott, the Attorney General in Texas is leading a group of states to join an investigation by the Justice Department into the proposed merger of American Airlines and US Airways.