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Thursday Papers: BP to suspend dividends and set aside £13.5bln to cover spill claims -- other news
Sweeping regulatory changes gives power to Bank of England governor as Osborne abolishes FSA; Director Hector Sants to stay on to affect the shake-up
Markets
* Dow closes at 10,409, up five points, S&P 500 softens 0.06% and Nasdaq eases 0.10%
* US May industrial output surged 1.2% and manufacturing output climbed 0.9%; but wholesale prices eased 0.3% on weak gasoline costs
* US new home construction down 10%, lowest in five months; building permits hit one-year trough
* UK claimant count falls but cuts cloud jobless outlook
* Spain to reveal bank 'stress tests' results
* BP to suspend dividends for the rest of the year and set aside £13.5 billion to cover claims relating to the Gulf of Mexico oil spill
* US Congressmen prepare to grill BP chief Tony Hayward
* BP starts second oil collection system in the Gulf of Mexico
* Brazil says BP deal review not linked to oil spill
* David Cameron warns against excessive claims on BP
* Sweeping regulatory changes gives power to Bank of England governor Mervyn King as George Osborne abolishes FSA
* Director Hector Sants to stay on to affect the shake-up
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