HSBC will detail their restructuring plans next week which is expected to include the loss of more than 10,000 jobs.
President Barack Obama has announced that US Congressional leaders have come to a tentative agreement to extend the debt ceiling and avoid the US falling into default.
The US economy grew by a disappointing annualised rate of 1.3% in the second quarter. This lacklustre figure confirms the seriousness of the economic downturn the US experienced in Spring.
According to the latest house price index from Nationwide house prices increased by 0.2% in July making the average house price now £168,731, down 0.4% on the same time last year.
BskyB, which run Sky News reported an increase in operating profits of 23% to £1.073 billion in the year ending June 30th. Total product growth increased 17% to 25.5 million households during the year. BskyB shares rose 0.7% on the news in early trading.