00:51 - The bid for Conservative party leadership is underway and 11 lawmakers are battling it out for the throne including Boris Johnson, the current favourite to win, as well as Michael Gove the Minister of Agriculture. Candidates will go through several rounds of voting which will reduce the numbers of contenders before they announce the new prime minister.

04:41 - Deutsche Bank has discovered serious failings in its anti-money laundering and sanctions controls that allowed cheques and high-value electronic payments to be processed without proper screening. The bank’s credit rating by Fitch Ratings was downgraded to BBB from BBB+ last Friday.

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