Growth slow at Standard Chartered

Slowing growth in India and China saw Standard Chartered produce its slowest increase in first-half profits for a decade.

Even so its 10th consecutive record first-half profit saw a 9 per cent rise to $3.95bn (£2.52bn), reflecting the London-headquartered bank's concentration on emerging markets. Chief executive Peter Sands said: "These results represent a very positive start to the year. Amidst all the turbulence in the global economy…we remain consistent in delivering strong performance."