1. HSBC launches new buyback as profit more than doubles
The Asia-focused lender said pre-tax profit in the six months to 30 June 2023 soared to US$21.66 billion from US$8.78 billion the year before, including a US$1.5 billion gain on acquiring the UK arm of Silicon Valley Bank.
2. Alcohol tax changes blasted by pub bosses
From today, alcoholic drinks will be taxed based on their strength; a controversial change described by the government as a tax cut but more like a hike by industry voices.
3. FTSE 100 closes near day's low
After a topsy-turvey day, the FTSE 100 finished 33 points lower to close at 7,666, equal to a 0.4% loss on the day.
4. Cineworld lenders take control as it emerges from bankruptcy
Approximately US$4.5 billion of the company’s debt will be swapped for shares and senior lenders will now become the sole owner through a newly incorporated company, called NewCo/New Cineworld.
5. Rolls-Royce questions government strategy as mini-nukes roll-out stalls
Rolls-Royce Holdings PLC (LSE:RR.) has joined MPs in urging a fast-paced rollout of prospective mini nuclear reactor technology in the UK.