THE DAILY BRIEFING

RULES PLEA

Christian Sewing, the boss of Deutsche Bank, has called for eurozone countries to adopt identical banking rules to make it easier for banks in different countries to merge.

SALES FIGURES

Sales at the

John Lewis Partnership were dragged down 0.7pc last week by Waitrose where purchases excluding fuel declined 2.2pc, while sales at John Lewis climbed 1.7pc thanks to strong fashion and beauty figures.

PROFITS DIP

Online travel firm Edreams Odigeo has posted a 3pc decline in profits in the three months to June 30 to £23.6m as it made further investment in the business. Customer bookings were up 1pc.

TOXIC DEAL

The Bank of Cyprus is selling £2.4bn of toxic loans to private equity firm Apollo as it seeks to move on from a financial crisis five years ago. Apollo will pay £1.3bn.

Bank chief executive John Hourican, a former Royal Bank of Scotland executive who was forced to quit over the Libor rate-rigging scandal, said the deal will put it on much stronger footing.

WONGA WORRIES

Top tech investors face losing millions of pounds if payday lender Wonga goes bust. Names such as London-based Balderton Capital and California’s Accel Partners are set to have their entire stakes wiped out if the company fails. Wonga could call in administrators within days after finding itself unable to pay compensation claims.

COLLECTOR BANNED

Debt collector Delroy Anthony Roberts, 50, from Birmingham, has been banned from running companies for 12 years after he refused regulators’ orders to refund families he had taken money from following a string of serious complaints.

LIVING COST

Four in ten Britons have just £6.60 a day to spend on meals or luxuries after paying their rent or mortgage and bills, according to research by Nationwide.

It said families have cut back on most non-essential spending such as going out to the cinema. But the amount spent on eating out is up.

CAR MANUFACTURING

Figures from the Society of Motor Manufacturers and Traders show 121,051 cars rolled off British production lines last month, down by 11pc on July 2017.