Bloomberg Business

The sharp increase in the cost of a mortgage is triggering a slump in demand for new homes, according to three of Britain’s biggest homebuilders.

Canadian Imperial Bank of Commerce named Jon Hountalas as its new head of Canadian banking, taking over for Laura Dottori-Attanasio, who’s leaving the bank.

Treasury Secretary Janet Yellen welcomed the most recent US inflation figures, saying some of the most important price pressures over the past two years had begun to decline significantly.

Europe’s two biggest economies may have succeeded in skirting a recession in the fourth quarter, defying downbeat expectations and offering hope of similar feats throughout the advanced world.

A bill that promises to give Poland’s government access to billions of euros in European Union aid cleared its first hurdle on Friday after the ruling party secured a majority in parliament to push on with the legislation.

United Internet AG’s web-hosting unit Ionos Group and motor parts maker Euro Group are set to be the first major companies to try to open up Europe’s market for initial public offerings after months of quiet.

The euro is heading for its best week against the dollar since November, a rally that may have plenty more room to run.

A deal may be in sight between UK rail unions and train-operating companies to draw to a close months of crippling rail strikes, government officials familiar with the matter said.