Barclays

The FTSE 100 reached its highest level since October 2008 this afternoon, leaping more than 80 points to within touching distance of 4,700.

Miners are leading the FTSE 100 higher this morning, as Barclays announced a near £3bn pre-tax profit for the first half of 2009.

Barclays and Royal Bank of Scotland will have to find billions of pounds more capital if they are to continue growing their investment banks under new rules designed to protect against the higher risks of "casino" banking, says The Telegraph.

Barclays staff are to be balloted for industrial action over the company's plans to close its final salary scheme to future accruals.

Lloyds Banking Group has begun the process of repaying the taxpayer after raising almost £4bn from its shareholders through a rights issue.

Banking giant Barclays this morning confirmed it is in talks with US manager BlackRock over the sale of its Global Investors arm.