Royal Bank of Scotland (RBS) and Lloyds Banking Group are the two major UK lenders most exposed to the commercial real estate market, which poses a risk for banks after asset managers froze withdrawals from property funds, according to analysts.

Irish exploration firm, Circle Oil, has effectively placed itself up for sale, by initiating an “all options” strategic review to reduce debt, maintain sufficient cash-flow, and maximise shareholder value.

Royal Bank of Scotland — the parent of Ulster Bank — will sound out potential buyers for Williams & Glyn after receiving a number of approaches while continuing preparations for an initial public offering of the consumer bank.

Walter Smith has resigned as Rangers chairman and left the board amid a bitter struggle for power at Ibrox.

Oil in place at the Barryroe oil field could be twice original estimates and may be closer to two billion barrels, according to the latest analysis by field owner Providence Resources.

Providence Resources has raised an additional $100m (€75m) via a share sale which will help it pay off a further $40m of debt.

PROVIDENCE Resources chief executive Tony O’Reilly Jnr has told shareholders that the company has the capability to become debt free within the next three years.

Little Shilling has proved a big hit with punters and the money-spinner landed his fifth race inside 15 days in the Cenkos Won Cricket Again Handicap Chase at Plumpton.

News of a possible multi-billion pound bid for mining giant Rio Tinto helped offset steep early session losses on the London market today.

Oil and gas exploration company Providence Resources have agreed the terms of a placing of 368.2 million new ordinary shares at 7c per share.

With three non-runners and two fences bypassed down the back straight, the Cenkos Securities Novices' Chase at Fontwell failed to produce much in the way of excitement.