Portugal faced fresh scrutiny from international lenders over its €78bn (£62bn) bailout yesterday amid mounting concerns that the nation could need "tens of billions" extra in funds. Inspectors from the European Union, European Central Bank and the IMF are making their fifth visit since April last year.

Chemring dives after its warning

The military equipment maker Chemring has warned profits this year will be £15m less than expected, sending its shares diving 13 per cent as investors feared the news would scare off a potential bid from the US private-equity giant Carlyle. Carlyle has until 14 September to make a firm offer or walk away.

John Lewis to sell Nook readers

John Lewis, Britain's biggest department store group, is to be Barnes & Noble's first partner in the push to sell its Nook electronic book readers in Britain. The US chain's Nook devices compete primarily with Amazon's Kindle and the Apple iPad.

TalkSport lifted by Euros surge

The Olympics were a damp squib for advertising, but blokey radio station TalkSport is celebrating after a surge in revenues from Euro 2012. Parent company UTV Media saw turnover at its British radio division jump 16 per cent to £17.2m in the first six months.