UK

Adrian Frost and Adrian Gosden of Artemis are to run a new UK and global income fund for St. James's Place (SJP).

The FTSE 100 opened at 5,211, rising close to 6 points or 0.11% in early trading following a flurry of M&A activity.

UK public sector borrowing fell to £3.8bn in July, down from £6.1bn in July 2009, suggesting the nation's finances are starting to recover.

IFAs are increasingly taking out business disruption insurance against regulatory investigations, according to a City law firm.

The Serious Fraud Office says the UK urgently needs a new centralised fraud database to combat rising financial crimes as the current FSA-run register is "clearly not working".

Prudential CEO Tidjane Thiam says he "very much regrets" the collapse of the insurer's giant $35.5bn AIA takeover, which has cost the company £377m.

Clive Cowdery's Resolution consolidation vehicle has received 95.5% shareholder take-up of its £2bn rights issue, which will help fund its part acquisition of Axa's UK business.

The Royal Bank of Scotland Group reported a small £9m net profit over the first half of the year, after recording a £1.14bn pre-tax profit in the six-month period.

BP's shares rose 2.36% to 425.45p at 3.15pm following the news almost three-quarters of the oil spill in the Gulf of Mexico has been cleaned-up or broken down by natural forces.

The Lloyds Banking Group has returned to profitability after posting a £1.6bn before tax profit in the first half of the year.