The U.K. economy is being bailed out by stronger growth in the euro area and the rest of the world, according to the National Institute of Economic and Social Research, Bloomberg News reported. A better-than-expected global expansion accounted for about a third of the increase in U.K. gross domestic product last year, explaining the nation’s stronger-than-forecast performance in the wake of the Brexit vote, the think tank said in a report Wednesday. The resulting boost to trade, at a time when future commerce relationships remain uncertain, was “critical” for the U.K.

Most of Carillion’s Canadian business, including facilities management at airports, hospitals and defence sites, is to be taken over by the insurer Fairfax Financial Holdings for an undisclosed amount, the Financial Times reported. More than 4,500 of Carillion Canada’s 7,000 employees will transfer to Toronto-based Fairfax, which has agreed to take over its support services functions, both companies announced on Monday.

The former owner of Monarch Airlines will look to buy parts of Carillion after the British construction and outsourcing company collapsed under large debts last month, the Financial Times reported. Greybull Capital will be among the bidders interested in buying parts of Carillion that might be ringfenced following its liquidation as an auction takes shape, people familiar with its plans said.

Capita Plc slumped the most on record after saying it would halt dividend payouts and sell shares to raise capital, triggering further concerns over the state of Britain’s outsourcing sector just two weeks after Carillion Plc collapsed, Bloomberg News reported. London-based Capita, whose customers include the U.K. government as well as firms like Telefonica S.A.’s O2 and retailer Marks & Spencer Group Plc, will seek to raise as much as 700 million pounds ($993.8 million) and plans to sell some non-core assets. The stock fell as much as 46 percent.

Some borrowers with interest-only mortgages may lose their homes as a result of shortfalls in repayment plans, the U.K.’s Financial Conduct Authority warned. The FCA has identified three peaks in interest-only mortgage repayments, the first of which is currently underway, Bloomberg News reported. Defaults are less likely in the present wave of maturities because the homeowners are approaching retirement and have higher incomes. The next two peaks, from 2027 through 2028 and in 2032, are more at risk of shortfalls, the regulator said.

Top executives at Royal Bank of Scotland say they will no longer fight the main conclusions and recommendations of a withering independent review of alleged mistreatment of small business customers by the bank, the Financial Times reported. Sir Howard Davies, the chairman, said during a bruising hearing before MPs on Tuesday that RBS “no longer thinks it is useful to have an argument” with the UK’s Financial Conduct Authority about the review of the bank’s Global Restructuring Group.

The U.K. Financial Reporting Council opened a probe into KPMG LLP’s audits of Carillion Plc, after the builder collapsed under a mountain of debt earlier this month, Bloomberg News reported. The FRC will examine KPMG’s work from 2014 and whether the auditor breached any "ethical and technical standards," the accounting regulator said in a statement Monday. The FRC will also look at how KPMG recognized revenue on significant contracts and its accounting for pensions. Carillion, a U.K.

British construction outsourcing company Carillion Plc attempted to “wriggle out of its obligations” to pensioners for the last decade, according to Parliament’s Work and Pensions Select Committee. The committee chair, Frank Field, condemned Carillion’s inability to perform its pension obligations while “shelling out dividends and handsome pay packets for those at the top,” Reuters reported.

A London court has sided with Franklin Templeton Investment Management and Russia's Sberbank in a ruling relating to International Bank of Azerbaijan's (IBA) debt restructuring, potentially delaying the process, the International New York Times reported on a Reuters story. Last year, state-owned IBA proposed a plan to restructure $3.3 billion of its debt and said in July it had received approval from creditors holding 93.9 percent of the affected credits.

Ministers are coming under increased pressure to release risk assessments on Carillion made in the months before the contractor’s collapse, the Financial Times reported. The Labour opposition has used an obscure piece of Parliamentary procedure to try to force the government to publish how they perceived the condition of all 30 or so “strategic suppliers” to the state. This “motion for a return” was passed by default on Wednesday night without a vote in the House of Commons.