UK

Barclays is set to name its investment banking boss Bob Diamond as successor to current chief executive John Varley.

The Global Bond sector reached its highest ever monthly sales figure in July, according to the Investment Management Association.

Adrian Frost and Adrian Gosden of Artemis are to run a new UK and global income fund for St. James's Place (SJP).

Threadneedle is preparing to launch a UK Absolute Alpha fund for Chris Kinder and Mark Westwood, and plans to close its UK Crescendo hedge fund.

Lazard is launching its growth-orientated Developing Markets equity strategy to UK investors on 30 September.

Tony Nutt's Jupiter Income trust has seen its payout to investors fall by 9% after the £2.52bn fund was hit by the BP crisis.

THE LEADER

British Airways has identified about a dozen potential merger targets as the BA and Iberia tie-up aims to consolidate the global aviation industry.

The cost to BP of cleaning up the Gulf of Mexico oil spill has hit $8bn (£5bn).

In the US, trading volumes fell ahead of key job market data to be released later today.