WORLD stock markets fell sharply after investors were spooked by fears of a slowdown in China and by the minutes of the Federal Reserve’s meeting in July which showed officials had concerns about the strength of the global recovery.
Greece’s prime minister Alex Tsipras resigned and called an election for September 20, raising fresh fears about the eurozone recovery. Two days earlier the German parliament approved the latest bailout programme despite a revolt by some members of Angela Merkel’s Christian Democratic Union party.
Mining and trading giant Glencore reported a half-year loss, with chief executive Ivan Glasenberg blaming steep falls in commodity prices.
The Co-operative Bank reported a first-half loss of £204m — nearly treble that of last year — and said it was unlikely to make money this year or next.
The Canadian giant Valeant agreed to buy Sprout Pharmaceuticals for $1bn (£640m) just a day after the tiny company’s drug Addyi — dubbed the female Viagra — was approved for use by the American watchdog.
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Royal Dutch Shell was granted the final permit required to start drilling for oil in the Arctic.
Amazon boss Jeff Bezos defended the company’s treatment of staff after a New York Times article revealed long working hours and weeping employees. He said the article did not describe “the Amazon I know”.
A legal settlement in New York opened the door to civil damages claims against banks over the rigging of foreign exchange markets.
Ryanair said it would appeal against a court ruling that it cannot impose a two-year time limit on compensation claims for flight delays.
Record income-tax receipts helped Britain to its first July budget surplus in three years, official figures showed.
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Glaxo Smith Kline sold the rights to a promising treatment for multiple sclerosis to Swiss rival Novartis for up to $1bn.
Shares in Spire Healthcare plunged 14% after the private hospital chain warned that government plans to cut spending on the National Health Service could hurt its sales.
North Sea workers threatened their first mass strike since the 1980s in a dispute over proposed cuts to pay and conditions.
QVC, the shopping channel owned by John Malone’s Liberty Global telecoms empire, bought the flash sales website Zulily for $2.4bn.