Summary

  • FTSE 100 closes at 14-month high

  • Pound hovers around $1.30 and €1.17

  • Bank reforms will give customers "better deal": watchdog

  • Consumer groups and challenger banks say changes don't go far enough

  • UK trade deficit widens in June

Live Reporting

Karen Hoggan

  1. Good morning

    Welcome to another day of Business Live. At 07:00 we'll have a major report into the UK's retail banks, which is expected to say they need to do more for customers. It's been two years in the making from the UK competition watchdog, and will look at overdraft charges, current account switches and other changes designed to save customers' money.

    We'll also have results from FTSE 100 finance firms Legal & General, Standard Life and Worldpay, as well as all the latest from the markets.