Trader jailed over Libor rate-rigging
Craig TaylorFormer City trader Tom Hayes is found guilty at a London court of rigging global Libor interest rates, and sentenced to 14 years in jail, in the first trial of its kind. BBC News – Business
Business
Government may begin RBS sale
The Treasury could begin the process of selling part of the government’s stake in Royal Bank of Scotland from Monday, according to BBC sources. BBC News – Business
Lloyds Bank PPI bill tops £13bn
Lloyds Banking Group’s claims bill for PPI tops £13bn as it sets aside a further £1.4bn to compensate customers. BBC News – Business
IMF wary of third Greek bailout
The International Monetary Fund is wary of any financial contribution to a third Greek bailout and is unlikely to provide funds at the first stage. BBC News – Business
Barclays reports 25% rise in profits
Barclays bank reports a 25% rise in half-year profits to £3.1bn but has set aside another £850m for customer compensation – including further PPI claims. BBC News – Business
China shares continue to slide
Shares in mainland China continue their slide on Tuesday, a day after the Shanghai Composite index saw its biggest drop in eight years. BBC News – Business