Oil steadies near $126 on storm

Oil steadied below $126 a barrel on Monday due to a tropical storm that may threaten oil facilities in the Gulf of Mexico and to concerns over OPEC producer Iran's nuclear programme.

HSBC profits decline on bad debts

Europe's biggest bank HSBC Holdings said its first-half profit fell 28 percent, in line with analysts' forecasts, as a $14 billion hit on bad debts on U.S. home loans and asset writedowns