Economics

HSBC is preparing to sell new shares to pay senior staff bonuses of more than £50,000, under a new pay structure, according to reports.

BlackRock has removed Mark Lyttleton from its UK fund, handing the £449m portfolio to co-manager Nick Little.

Former IMF head Dominique Strauss-Kahn is being questioned by police as a suspect in a prostitution ring inquiry, according to the BBC.

PAYING THE LOCUSTS

A marked rise in net fee income in its investment management division helped Rathbone Brothers post a 30% increase in profits in 2011.

The euro rose sharply against the dollar as news of the €130bn loan to Greece was announced.

Greece will receive emergency funding of €130bn after a second bailout of the stricken nation was agreed.

The FTSE 100 raced to its highest level in seven months this morning, having made solid gains last week, as mounting optimism over a successful Greek deal lifted sentiment.

COLOMBIA

Trillions of dollars in fake US bonds have been seized from a warehouse in Zurich alleviating a "severe threat" to global financial security, according to media reports.