Earthquake faults located deep within the planet can reconnect after a seismic disturbance, according to new research from the University of California, Davis. The study, published Nov. 19 in Science Advances and supported by National…
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Pistachio consumption at night linked to improved gut health and immunity
A new study has found that eating pistachios may significantly benefit gut health, reduce inflammation, and boost immunity – particularly when consumed at night.
Research conducted in the United States, involving…
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Elmo is 40, but he is forever 3
How do you feel about Elmo?
It might depend on how old you were one autumn 40 years ago, when the diminutive, fuzzy red monster first appeared as a regular character on the educational children’s television program “Sesame Street.” If you…
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Swiss regulator warns mortgage risks are rising as banks stretch lending rules
GENEVA, Nov 22 (Reuters) – Switzerland’s financial market regulator warned on Saturday of growing risks in the housing market, saying banks were stretching mortgage lending criteria as property prices continue to climb.
“The risk in the mortgage market is high, prices continue to rise, and the danger of a correction is correspondingly high,” the head of FINMA, Stefan Walter, told the Swiss news outlet Blick in an interview.
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“We have found that the scope for granting mortgages is being exploited excessively by various banks.”
Internal criteria are either too loose, or a high proportion of financing goes beyond some banks’ own affordability rules, he stated.
He told Blick that some banks were relaxing their internal lending criteria on between 25% and 40% of mortgage loans as a result of intense competition.
FINMA intervenes when it sees exceptions of that level, he added.
Reporting by Olivia Le Poidevin; Editing by Kevin Liffey
Our Standards: The Thomson Reuters Trust Principles.
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Sally Barbrook ready to take on the British Rowing Indoor Championships after just 12 months of rowing
Sign up here.EssilorLuxottica was named in Armani’s will alongside luxury conglomerate LVMH (LVMH.PA) and L’Oreal (OREP.PA) as priority potential buyers of an initial stake of up to 15% in the company.Citing unnamed sources, Il Sole said Franco-Italian company EssilorLuxottica had informed the Armani Foundation that it would be interested in becoming an investor but would seek a smaller stake and not ask for a seat on the board of Armani.
There was no immediate comment from Armani or EssilorLuxottica, whose brands include Ray-Ban.
Reporting by Keith Weir and Elisa Anzolin;
Writing by Keith Weir; Editing by Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.
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