UK

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.

Nationalised lender Northern Rock has returned to profit in the first half of the year.

Former New Star fund manager Patrick Evershed can proceed with a lawsuit over claims he was bullied by company founder John Duffield, a London court said.