FSA unveils tough new pay code

The FSA is broadening the scope of its pay code to more than 2.500 financial services companies to comply with EU legislation that introduced some of the world’s toughest restrictions on bankers’ bonuses

Karzai attacks ‘shocking’ leak of files

Afghanistan’s president says named individuals could be targeted by insurgents for working with US forces

Shell chief defends deep-water drilling

Peter Voser, chief executive, says deep-water drilling has ‘important role to play in global energy supply’, as the Anglo-Dutch oil group announces a near-doubling in second-quarter profit to $4.53bn

PartyGaming and Bwin plan merger

Proposed deal would create world’s largest online gambling group, with 2009 pro-forma net gaming revenues of €682m, and earnings before interest, tax, depreciation and amortisation of €196m

Stocks struggle to hold gains after Fed caution

Global Markets Overview: Risky assets are fighting to hold their level after a cautious but overall positive assessment of the US economy by the Federal Reserve

Banks agree additional funding for Connaught

The troubled social housing maintenance company, which had warned that it was in urgent need of additional funding, has agreed an additional £15m short-term overdraft facility with its bankers

Sharp fall in lending to UK financial sector

Bank lending to the industry is at its lowest for at least a year following a very sharp drop in June, data from the Bank of England show

EU watchdogs push for market transparency

Push to boost transparency of regions’ securities markets includes call for a ‘consolidated tape’ for pricing data to tackle lack of transparency as part of biggest regulatory overhaul in years

Gandhi pulls out of Cameron meeting

The UK prime minister will leave India without meeting Sonia Gandhi, the president of the Congress party, in a blow to his efforts to forge a “special relationship” with New Delhi

Default retirement age to be scrapped

Move delights pressure groups but dismays business organisations, which warn that the measure is being introduced too quickly
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