Dalian Wanda Group, a Chinese property developer, says it will spend £1bn ($1.6bn) to buy a British yacht maker and property in London.

Shares in London fall in early trade with investors expected to remain cautious ahead of news from the US Federal Reserve.

US satellite TV operator Dish Network says it will not submit a revised bid for Sprint Nextel, leaving the way open for a rival bid from Japan's Softbank.

Japanese exports rose in May at the fastest annual rate since 2010 as the yen weakened, providing a boost to Prime Minister Shinzo Abe's plan to revive the economy.

The Parliamentary Commission on Banking Standards calls for new measures, including criminal sanctions, to make bankers responsible for their own failings.