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Crudeoil yesterday settled up 1.81% at 5795 edged higher on Wednesday as traders in th

Silver yesterday settled down -2.69% at 39568 against -5% fall in international to hit the lowe

Gold yesterday settled down -1.59% at 26136 as compare with fall of -3.50% in international to its lo

Andrew Bailey, the deputy governor of the Bank of England in charge of prudential regulation, has asked the banks in the country to focus more on lending to the customers and not on lobbying ministers for advancing their interests.

UK's Direct Line has announced its decision to cut a disappointing 2,000 jobs as the insurance player tries to control costs and increase savings.

The company said that it will cut about 14 per cent of its staff besides the 1,200 redundancies already announced earlier. The job cuts will include 500 from the closure of a claims centre in Liverpool, which is already facing high unemployment levels in the UK. Further 1,500 jobs will be slashed at Leeds, the head office in Bromley, South London and the closure of an IT centre in Croydon, South London.

Lloyds Banking Group has said that it is planning to launch a new mobile payment system allowing traders and owners of micro businesses to accept customer payments using their smartphone.

The banking group has already entered into a deal with mobile payments business, Monitise for offering to the clients in the country. The business owner can simply download the app and turn the smartphone device into a point of sale terminal that will be capable of placing an order or sending a receipt to the customer by text message or email.