FTSE LIVE: Miners keep Footsie weak but US, European stocks gain on reports of possible Greek bailout extension

FTSE LIVE: Miners keep Footsie weak but US, European stocks gain on reports of possible

NEW With around an hour of trading to go in London, the FTSE 100 index was 21.3 points, or 0.3 per cent lower at 6,781.6, well above the session low of 6,731.13. In Europe, Germany's Dax 30 index rallied 0.5 per cent higher, while France's CAC 40 index advanced 0.8 per cent, and Greece's Athens Composite jumped 2 per cent. In early trade on Wall Street, the blue chip Dow Jones Industrial Average added 89.1 points at 17,979.4, while the broader S&P; 500 gained 2.6 points at 2,104.9, but the tech-laden Nasdaq Composite shed 5.2 points at 5,105.7.

MARKET REPORT: Double dose of positive news for smartphone makers leads to investors dialling for shares in chip maker Arm Holdings

It rang up a 2 per cent gain or 23p to 1148p on the back of news that Hong Kong-based FIH Mobile - maker of China's Xiaomi Corp smartphones - forecast that its profit will more than double.

SMALL CAP MOVERS: Former Quindell chief Rob Terry raises the stakes at Imaginatik 

Rob Terry - Quindell.

NEW Terry, who was ousted from the insurance claims processing firm last year, lit a fire this week under the share price of Imaginatik, the self-styled innovation solutions consultancy.

Poundland to create 800 new jobs in Wigan with opening of new distribution centre 

If approved, it would be the 'single biggest jobs boost ever' for Wigan Borough, said a spokesman, creating up to 800 new jobs.

Lloyds bonuses under attack after state-backed lender pays ten senior executives £1.05m in shares

Pedestrians walk past a branch of Lloyds bank in London, England on 03 February 2014. 
Lloyds Banking Group has announced that it will set-aside 1.8 billion Pounds (2.1 billion Euros) for claims of mis-selling of payment protection insurance (PPI).  

epa04053691 
EPA/FACUNDO ARRIZABALAGA

News of the rewards, which stem from the first tranche of the 2014 share bonuses and the latest instalment of deferred bonuses awarded in the previous two years, has provoked anger.

Bundesbank president hits out at Greek banks using emergency funds to pay savers scrambling to empty their accounts

File picture shows Jens Weidmann, President of German Bundesbank, as he answers reporter's questions during an exclusive interview with Reuters at the Bundesbank headquarters in Frankfurt, April 16, 2012. A German government spokesman said on August 31, 2012 that Chancellor Angela Merkel and Bundesbank President Jens Weidmann talk regularly on the phone, but he declined to comment on a report that the country's top central banker had threatened to resign. Picture taken April 16, 2012.   REUTERS/Kai Pfaffenbach/File (GERMANY - Tags: BUSINESS)

In a sign patience with Athens is wearing thin, Jens Weidmann, an influential figure at the European Central Bank, said use of the funds for this purpose may breach EU law.

Relieved investors pile back into UK company shares after Conservatives' decisive General Election victory

It is a dramatic reversal from before the polls, when small shareholders were shying away for fear of a Labour triumph.

Tesco sales decline slows as boss Dave Lewis begins to turn round 'the tanker' and pulls 180,000 more shoppers in the door

Boss Dave Lewis is battling to stem the rise of discounters, such as Lidl and Aldi, and Tesco claimed 180,000 more customers shopped with it over the period.

Trinity Mirror doubles cost savings target to £20m as advertising revenues continue to shrink

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The company, which has been battling lower advertising rates at its flagship publications The Daily Mirror and Sunday Mirror, said the move was necessary in order to protect profits.

ALEX BRUMMER: Did pensioner bonds suck up cash that might have otherwise gone into the productive or wealth creating sector of the economy?

There have been some cries of foul about the 65+ bonds from the economic right and the left because of the premium interest rate over UK gilts and bank deposits.

Petrolheads with spare £1m to spend helped McLaren Automotive post pre-tax profit hike of 233 per cent to £15m

The sports car maker said sales grew 67 per cent to £475.5m in 2014, due to strong worldwide demand, especially in the US, China and Europe.

Debenhams' sales suffered in spring as shoppers became addicted to promotions and were reluctant to pay full price

The department store chain, which has a reputation for always being on sale, cut the number of goods on special offer in the third quarter, to boost profits.

Boss of discount chain B&M; handed huge pay rise after floating company on London Stock Exchange

Chief executive Simon Arora, who bought the bargain-basement bazaar now known as the 'new Woolworths' a decade ago, will earn a basic salary of £575,000 this year.

Number of smaller firms making debut on London Stock Exchange's AIM market falls by more than half due to political uncertainty and scandals

Just 24 floated on the Alternative Investment Market in the first five months of the year, down from 51 the previous year.

Shareholders in troubled Afren hope board clear-out will bring end to scandals and disasters at oil explorer

Afren's share price jumped nearly 20 per cent in early trade on news the entire board, including chairman Egbert Imomoh, were to leave their posts after the annual general meeting.

Coining it for the Queen: How the £11bn Crown Estate makes a mint for the nation

Coining it for the Queen: How the £11bn Crown Estate makes a mint for the nation

The landlord and developer, which dates back to 1066, returns all profits to the Treasury which then dispenses 15 per cent of them to the monarchy through the Sovereign Grant. So a 6.7 per cent rise in annual profits to a record £285.1m for 2014-15 means the Royal Family will get a cut of £42.8m in 2016-17 - up £2.7m on the previous year.

Retail sales cool in June after reaching record highs in May, says CBI survey, as grocery sales fall

The CBI said its retail sales balance fell to +29 in June, down from +51 in May. The measure of sales expected for the month ahead also eased after hitting a more than 26-year high in last month's survey.

Minister promises swift action on a new controversial runway at Heathrow or Gatwick as decision expected within weeks  

The view seen by traffic controllers from the control tower at Heathrow Airport. Building a third runway at Heathrow Airport is the 'obvious' solution to airport congestion, a report concludes today.

 PRESS ASSOCIATION Photo. Issue date: Monday July 28 2008. The detailed study rejects building more airport capacity elsewhere around London and says the idea of a new airport in the Thames Gateway is not thought credible. See PA story AIR Heathrow. Photo credit should read: Tim Ockenden/PA Wire
Embargoed to 0001 Monday July 28
 File photo dated 18/4/2007 of

The Government cannot afford to 'stall' on deciding whether to build a controversial new runway at Heathrow of Gatwick, aviation minister Robert Goodwill told travel chiefs today.

Network Rail cuts shamed top staff bonuses of up to £66k due to woeful performance

In a bid to draw the sting from continuing criticism, bosses will not now pocket incentives worth up to 16 per cent of their salary. Details are to emerge after Network Rail publishes its annual report.

ALEX BRUMMER: Why interest rates might have to rise faster than we think

Television Programme: Benefits: How much is Enough? - TX: n/a - Episode: n/a (No. Generics) - Embargoed for publication until: n/a - Picture Shows: Outside of Ipswich Jobcentre Margaret Mountford, Nick Hewer - (C) Silver River Productions Ltd - Photographer: Alex Maguire

As the jobless rate has come down, the labour market has tightened and increases in pay settlements and inflation-adjusted wages finally are coming through.

MARKET REPORT: Going shopping for the grocers! Dutch grocer Ahold has swooped on rival Delhaize in an £18bn merger

Dutch grocer Ahold has swooped on Belgian rival Delhaize in an £18billion merger that will create one of the biggest food retailers in the United States and a major player in Europe.

Gatwick records busiest year in airport's history, boosting campaign to win permission for new runway 

The West Sussex airport had more flights, more passengers and busier planes last year, breaking its record for its busiest ever month in August 2014 with 4.37 million passengers.

Greek stocks rally after being slammed into reverse yesterday when the country's banks fell a punishing 6.6%

After opening lower today, the Athens Composite recovered to gain 0.7 per cent ahead of yet another Eurogroup finance ministers meeting this afternoon and a two-day European leaders summit.

Second senior scientist quits AstraZeneca after 28 years to join company rival

James Ward-Lilley is leaving after 28 years at Astra to become chief executive of lung medicines specialist Vectura replacing Chris Blackwell, who leaves at the end of June.

ALEX BRUMMER: Did pensioner bonds suck up cash that might have otherwise gone into the productive or wealth creating sector of the economy?

ALEX BRUMMER: Did pensioner bonds suck up cash that might have otherwise gone into the

More than one million savers piled into the 65+ bonds, which became the biggest selling retail savings product in British history. There have been some cries of foul about the 65+ bonds from the economic right and the left because of the premium interest rate over UK gilts and bank deposits.

Coining it for the Queen: How the £11bn Crown Estate makes a mint for the nation

Coining it for the Queen: How the £11bn Crown Estate makes a mint for the nation

The landlord and developer, which dates back to 1066, returns all profits to the Treasury which then dispenses 15 per cent of them to the monarchy through the Sovereign Grant. So a 6.7 per cent rise in annual profits to a record £285.1m for 2014-15 means the Royal Family will get a cut of £42.8m in 2016-17 - up £2.7m on the previous year.

ALEX BRUMMER: 'As the jobless rate has fallen, why interest rates may rise'

ALEX BRUMMER: Why interest rates might have to rise faster than we think

For much of this year all the talk has been of deflation and the prospect of an interest rate rise retreated after six years at 0.5 per cent. As the jobless rate has come down, the labour market has tightened and increases in pay settlements and inflation-adjusted wages finally are coming through. Unemployment zipped down to 5.5 per cent of the workforce surprisingly rapidly though you might not have known it judging from the weekend march in London addressed by pop singer-cum-economic guru Charlotte Church (pictured).

CITY INTERVIEW: Taking the tech titan from barn to behemoth, Simon Segars was shot in the ARM for UK's tech industry

CITY INTERVIEW: Taking the tech titan from barn to behemoth, Simon Segars was shot in the

When Simon Segars arrived for his first day at work at ARM, he was greeted by the site of a computer being soldered together for him to use. In the quarter century since, it has gone from barn to behemoth. The processor he helped design - the Arm7 - still accounts for a decent proportion of the company's sales.

ALEX BRUMMER: It's good that regulators are extending bankers bonus clawback - but what about FCA's own flawed leadership?

ALEX BRUMMER: It's good that regulators are extending bankers bonus clawback - but what

There has been much fuss from the Treasury Select Committee over alleged inadequate oversight at the Bank of England. A bigger issue for Chancellor George Osborne ought to be a City regulator led by people up to their neck in accounting and regulatory misadventures.

Lloyds' history retold: New book's fresh look at the ruinous HBOS deal 

Lloyds' history retold: New book's fresh look at the ruinous HBOS deal 

A new book, Black Horse Ride, by former Sunday Times business editor Ivan Fallon, seeks to correct that picture. It strives to justify the deal on commercial grounds, arguing it was just the kind of transaction that Lloyds had been looking for, having abandoned its ambition to forge a cross-border European takeover.

Thorntons gobbled up: Italian confectionary giant Ferrero Rocher unwraps bid for struggling chocolatier

Thorntons gobbled up: Italian confectionary giant Ferrero Rocher unwraps bid for

Ferrero Rocher is set to buy troubled Thorntons - one of the last remaining British chocolate brands - for a price tag of £112million. But buried in the small print of the recommended cash deal it suggests up to 2,000 staff are at risk across Thorntons' 242 stores and 158 franchised outlets, which will put Ferrero at loggerheads with unions and politicians.

EDF ENERGY BOSS: Why we must power on with energy reform and create a low carbon economy

EDF ENERGY BOSS: Why we must power on with energy reform

The CMA is focused on whether the market is competitive, but it would be a missed opportunity if it didn't look at how the market is tackling climate change. The CMA's provisional findings will not be the end of this process. There will be further consultation on the remedies proposed for any market failings they see, and I am determined that we will be part of the solution in creating the thriving low carbon economy the country needs.

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