Greek bailout talks continue as Merkel ally warns of Grexit ‘chaos’ – live

Rolling business and financial news, as negotiations over a third Greek bailout continue and markets await the Fed’s decision on interest rates tonight

Bavarian PM on Grexit chaos
Markets rally ahead of the FedIntroduction: Talks resume in Athens today

9.08am BST

Greek stock market investors need to stay patient.

The Athens exchange won’t open today, because the government hasn’t issued a ministerial decree to allow trading to resume.

9.04am BST

You need nerves of steel to play the Chinese stock market right now.

Believe it or not: #China regulators manages to get stocks into the green. Shanghai Composite ends up 3.5%. pic.twitter.com/UBDScuPKKl

8.47am BST

For all the talk of clean-ups and fresh starts, Britain’s banks are still paying for the mistakes of the past.

The figure was revealed as John McFarlane, the chairman who is standing in as chief executive following the ousting of Antony Jenkins earlier this month, pledged to accelerate the disposal of risky businesses, cut costs at the scandal-hit bank and change the dividend policy.

Included in the provision is a further

Reform in Greece is for the good of all Europe | Peter Ammon

Greece is going through difficult times. But proven economic reforms can create a Europe strong enough to meet challenges from Ukraine to Islamic State

Judging by the flood of comments that followed the recent European summit on Greece, a modern Greek drama is unfolding in which a small but proud nation, the motherland of democracy, is being subjected to senseless austerity by cold-hearted bureaucrats and penny-pinching foreign politicians. These comments have rather puzzled me.

A few days ago, the German parliament gave its approval to negotiations on a new financial assistance package for Greece worth up to €86bn (