Good morning and welcome back to another day of live money and business coverage on The Independent.

Today we’ve got plenty on the way from the stock markets, mortgage news, companies reporting their latest finances and more – and how it all affects you as a consumer, shareholder or worker.

Yesterday in the FTSE 100, BT Group was one of three companies rising around 10 per cent to push the index as a whole towards a 0.9 per cent rise.

A new record closing level means a new record opening today.

Leading the firms in the news this morning will be NatWest Group, currently reporting their latest financial offering.

This will be their first since the government fully exited its shareholder position, following the bail-out of the bank during the financial crisis.

A new survey among small and medium-sized businesses (SMEs) has found that a huge majority expect to be raising prices over the next year, with optimism split on whether they will survive or thrive amid challenging economic conditions.

Meanwhile inflation from raw materials and higher energy costs have meant that their own prices have been on the increase, contributing to overall UK inflation levels. In addition, tariff uncertainty impacted those exporting to the US in the earlier part of the year before a trade deal was agreed.

High street firm River Island has approached creditors over a deal to save themselves from closure within weeks.

Reports yesterday suggested they could be out of cash by the end of August if stakeholders including those who rent shops to them didn’t agree to vast cuts.

River Island need to save £10m within a matter of weeks and an estimated £50m by the end of the year to plug a funding gap.

Dozens of stores will close if the deal is agreed to, with others seeing rents cut by up to 75 per cent in some cases and leased rent-free in others.

While the Bank of England grapples with high inflation and stuttering interest rate cuts, the European Central Bank have gone from 4 per cent to 2 per cent in a year, with inflation also around 2 per cent.

Yesterday they opted to pause interest rate cuts, particularly with an EU-US trade deal close.

The right call? It might end up being the final call, according to one analyst.

“As effectively telegraphed by Lagarde, the ECB paused the easing cycle in July,” said Mark Wall, chief European economist at Deutsche Bank.

“The question is, will this be a short pause or a long pause? And could this be a pause that sees 2% policy rates eventually become the terminal rate in this easing cycle? Uncertainty remains high and the ECB rightly wants to keep its options open.

“But if trade uncertainty fades, the combination of a resilient economy and significant fiscal easing will eventually translate into upside risks to inflation. Markets are not far away from switching focus from the last cut to the first hike.”

These funds aim for long-term growth by spreading risk across global markets, typically including equities (like shares in companies), bonds, property, and cash. On paper, it’s a sensible, low-effort option.

But dig deeper, and you may find your pension is funding sectors you’d rather avoid, such as fossil fuels, weapons, tobacco, and controversial mining firms.

A recent government report reveals 90 per cent of employees stick with their default fund.

That’s not necessarily because it’s the right fit, but because switching feels complex or isn’t front-of-mind.

Here’s what to do if that’s you.

NatWest Group have this morning reported first half profits of more than £3.5bn, higher than expected, in their first financial report since the government sold the last of its holding from the financial crisis bailout.

The group announced returns to shareholders of more than £1.5bn, with a £750m share buyback announced as well as a 58 per cent increase to the interim dividend.

Shares are up close to 1.5 per cent this morning.

NatWest might be in the green, but they are one of just 22 companies with a positive return so far this morning in the FTSE 100.

Most are down a percent or two – probably more to do with some profit taking than anything dramatic in most cases, after a recent surge culminated in yesterday’s climb of almost one per cent for the index.

JD Sports is the biggest faller, down 1.96 per cent; Centrica has climbed highest, 1.74 per cent up this morning.

European steelmakers are not set to benefit from the EU-US trade deal, with the 15 per cent base tariff not covering the industry.

Steel imports from Europe are subject to 50 per cent tariffs which the industry in Europe has said will wipe it out, with cheaper Chinese products and high energy bills.

British steel is at 25 per cent and will be reduced to zero under the terms of the UK-US deal – though that is dependent on solving talks related to the origins of some materials.