Good morning! Here’s what you need to know on Friday.
1. Five UK banks are facing heavy losses on loans to Carillion, after irreconcilable differences between the company, its lenders and the government pushed the UK construction and services group into liquidation on Monday, sources told Reuters. Royal Bank of Scotland (RBS), HSBC, Santander, Lloyds and Barclays are among the most heavily exposed after providing £140 million of emergency loans in September 2017 and are also lenders on a £790 million revolving credit facility.