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Osborne gives 'cautious welcome' to Greek deal

George Osborne has cautiously welcomed the Greek deal, but said: "we need to make sure it works for our country as well as the rest of Europe."

The Chancellor added: "What we really want to see is this turned into a lasting solution. Because this risk from Greece hangs over the whole European economy, including Britain."


New York stock exchange stopped over technical issues

Trading has been suspended at the New York Stock Exchange over technical issues.

Denying that the stoppage was due to cyberattack, the NYSE said it "chose to suspend trading on NYSE to avoid problems arising from our technical issue".

New York Stock Exchange trading suspended

The New York Stock Exchange has suspended trading in all stocks, for unknown reasons.

A NYSE spokeswoman was not immediately available for comment, though some reports are blaming earlier technical issues.

US government officials have told NBC News that there is no indication that the shutdown is not related to cyberattack.

Hundreds of Chinese companies halt trading

Credit: Reuters

Some 787 listed firms in China - the world's second-biggest economy - have paused trading today as prices of some fell by more than 50 percent.

Emergency measures implemented by the Chinese government have failed to stop the decline of Shanghai Composite Index, which has tumbled more than 30 percent since early June.

Some investors fear that China's market turmoil poses a bigger risk to the real economy than the crisis in Greece.

I've never seen this kind of slump before. I don't think anyone has. Liquidity is totally depleted.

– Du Changchun, Northeast Securities analyst


Antony Jenkins: Barclays chief executive to step down

Barclays has announced its chief executive Antony Jenkins is to step down.

A "new set of skills were required" at the helm of the group, Barclays deputy chairman Deputy chairman Sir Michael Rake said.

Antony Jenkins is leaving the bank. Credit: PA Wire

He added that new leadership was required to accelerate the pace of change at the lender.

I reflected long and hard on the issue of group leadership and discussed this with each of the non-executive directors. Notwithstanding Antony's significant achievements, it became clear to all of us that a new set of skills were required for the period ahead.

– Sir Michael Rake

The bank said it will appoint chairman John McFarlane as executive chairman from July 17 until a successor is found.

'We have questions': Energy firms react to investigation

Some of the "Big Six" energy firms have responded to the competition authority's findings that they have been overcharging customers for years.

British Gas, Eon and SSE all said they will look into the findings, with British Gas admitting it has "questions and concerns" about some of the Competition and Markets Authority's proposals to make it easier for customers to switch.

We will now review the material in advance of responding in detail.

Throughout this process and since we first called for a full market investigation in 2011, we have been open and fully supportive of the detailed and thoughtful investigative work undertaken by the CMA and we will continue to provide all necessary and relevant information as we move towards the final report in December.

– Eon spokeswoman

We will now examine today's publications in detail, along with the analysis that underpins them.

We will also continue to work constructively with the CMA as this process continues to help ensure that the opportunity presented by this investigation is fully grasped, and that the final result is an enduring outcome that gives customers confidence, allows regulators to regulate, and encourages investors to invest in the Great Britain energy market.

– Alistair Phillips-Davies, chief executive of energy firm SSE
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