The Times
Banks to pay the price of botched mortgage sums: Tens of thousands of mortgage borrowers with Clydesdale Bank and Yorkshire Bank will receive compensation payments averaging £1,000 each after they were misled and disadvantaged over botched interest rate calculations.
Lloyd’s members take a battering from low returns: Tumbling investment returns at Lloyd’s of London fuelled a near 10% slide in first-half profits at the world’s oldest insurance market.
Kevin McCloud’s Hab builds on the appeal of a household name: The success of the Hab (Happiness Architecture Beauty) crowdfunding venture is a proof of the strength of the Kevin McCloud brand which went global some time ago, but remains synonymous in the UK with quality and attention to detail in all construction matters.
Madoff accountant arrested as prosecutors rush to lay charges: Federal agents arrested Bernard Madoff’s former accountant in New York, as US authorities stepped up their efforts to bring charges in connection with the disgraced financier’s massive Ponzi fraud.
Rise of the giant wind farm marks power shift away from dirty energy: Britain is more than halfway to hitting its 2020 green electricity targets after a sharp rise in the amount of power being generated from renewable energy projects.
CBI takes issue with the shopkeepers and gurus in great high street debate: Proposals to help rejuvenate Britain’s ailing high streets and encourage growth in the economy will be unveiled by a cross-industry business group.
Supermarket price cuts fuel petrol war: Tesco has pledged to drop the price of its fuel for the second time in a week as a petrol price war between supermarkets gathers pace.
Inquiry into silver trades dropped by U.S. regulator: The price of silver rallied after a five-year federal investigation into potential price manipulation was closed. The U.S. Commodity Futures Trading Commission wound up the inquiry despite widespread speculation that the silver market has been controlled by a few players for years.
The Independent
Hitch for Moss Bros as wedding suit rentals fall: Wedding suit rentals fell this summer because fewer couples were getting married, says the Chief Executive of Moss Bros.
Facebook shares break $50 on the back of mobile ads success: Facebook’s shares closed above the $50 mark, continuing their onward march as the social media giant’s success in making money from mobile ads lures investors back into a stock that, when it floated last year, swiftly plunged below its offer price on worries about being overvalued.
Tui’s sunny outlook puts Thomas Cook shares in the shade: The City dumped shares in Thomas Cook in favour of rival Tui Travel as the Thomson Holidays Owner issued a profits upgrade despite unrest in Egypt.
Lionel Messi’s toughest game – with the taxman: Lionel Messi will be facing his toughest opponent yet: the Spanish tax authorities.
JP Morgan Chief faces the music in person: It was an unusual sight: the Boss of America’s largest bank travelling to Washington for a face-to-face meeting with the U.S. Attorney General to settle the lender’s legal troubles.
Looking smart: Asian boom sends H&M to new high: Shares in the Swedish fashion retailer H&M surged to a record high, thanks to growth in Asia.
The Daily Telegraph
Lord Ashcroft sells £40 million Restore stake: Conservative peer Lord Ashcroft has sold the majority of his stake in office services and document management group Restore for about £40 million.
Nestle ‘looking to sell PowerBar business’: Nestle, the world's largest food company, is looking to sell its PowerBar energy bar business, a pioneer of sports nutrition products, according to reports.
Nike profits jump 38%: Nike’s first-quarter net income rose 38%, boosted by strong demand for its namesake brand and revenue growth in every region except China.
ICAP shares fall after Libor settlement: More than £50 million was wiped off the market value of ICAP as investors took in the impact of the broker’s admission that its staff had been involved in Libor rigging.
The Guardian
Ed Miliband’s energy price freeze wins backing of consumer groups: Leaders of consumer and energy groups have rallied to support Ed Miliband’s proposals to freeze prices and shake up the power market, saying his initiative had exploded outdated ideas that radical reform was not necessary or possible.
GDP grows 0.7% as U.K. economy shows steady recovery: Britain’s economic recovery is on a steady course after stronger-than-expected growth in manufacturing and construction output offset falls in consumer and government spending during the second quarter of the year.
Ladbrokes issues third profit warning for 2013 amid takeover rumours: Ladbrokes has issued its third profit warning this year, heaping pressure on Chief Executive Richard Glynn and raising speculation the bookmaker could be vulnerable to a takeover bid.
Clydesdale fined £42 million over mortgage errors: Clydesdale bank is to pay out £42 million in fines and compensation after miscalculating the amount thousands of customers needed to repay on their mortgages, leaving some with shortfalls of up to £18,000.
Tesco removes ‘Psycho Ward’ boiler suit costume after consumer anger: Tesco has joined Asda in apologising for selling a fancy dress costume that stigmatised those with mental health issues as leading charities and campaigners expressed concern over such harmful and discriminatory depictions of mental illness.
G4S ‘to make joint bid to supply Britain’s new plastic banknotes’: G4S, the world’s biggest security firm, is to believed to be preparing a joint £1 billion bid with the French group Oberthur Technologies to supply Britain’s next wave of banknotes.
Daily Mail
Fund management guru Neil Woodford slams Labour’s energy prices policy as shares in Centrica and SSE plunge: A million small investors were hit by a plunge in Centrica and SSE shares on the back of fears over Labour plans to cap energy prices after the next election.
DMGT on track to hit forecasts despite a difficult comparison with last summer: Publisher DMGT said it was on course to meet full year profit forecasts despite a difficult comparison with last summer, when advertising was boosted by the Olympics.
More than half of shares listed in London are in foreign hands, official figures show: More than half of the £1.75trillion U.K. stock market is now owned by foreign investors, official figures revealed.
US to hit debt ceiling in three weeks unless Congress strikes a deal, warns Treasury Secretary Jack Lew: The U.S. will hit its debt limit in just three weeks unless Congress strikes a deal to avert an economic catastrophe, Treasury Secretary Jack Lew said .
Daily Express
Vodka maker Stock Spirits Group to list: European vodka maker Stock Spirits Group has joined the queue of companies seeking a London stockmarket listing.
Labour plan wipes £2billion off shares: Nearly £2billion was wiped off the value of Britain’s biggest stock market listed energy companies as Labour’s price cap plans sent shockwaves through the industry.
City A.M.
Serco in fraud probe over tags for the dead: Outsourcing firm Serco could face a fraud probe after a government report alleged it was charging for electronically tagging criminals who were either dead, in prison, or had never been tagged.
Candy Crush developer plans U.S. float: The London company behind the addictive Candy Crush Saga game is preparing for a potential IPO in New York, it emerged. King, which is based in Soho, has filed a confidential filing with U.S. authorities noting its intention to float, according to the Daily Telegraph. King makes its money by giving its games away and charging for add-ons.
EBay to acquire Braintree to bolster PayPal: Online auction giant Ebay revealed it has agreed to buy payments provider Braintree in an acquisition to boost its PayPal offering on smartphones and tablets.
Accenture tops expectations as fees increase: Accenture reported record annual revenue figures as its core consulting business returned to growth after a year of decline.