𝓤𝓷𝓲𝓽𝓮𝓭 𝓝𝓮𝔀𝓼

HSBC has reported its latest earnings for the second quarter of the year, with profits at $6.3bn (£4.7bn) – a drop of 29 per cent year on year.

Despite that fall, the bank has launched a $3bn buyback scheme for its own shares, along with declaring an interim dividend matching last quarter’s payout, of 10 cents per share.

HSBC also cautioned that the global outlook could impact profitability going forward.

It may be easier said than done, but the process of improving your financial standing over time can really be summarised in two steps:

First, spend less than you earn. And second, put the excess earnings to good use.

The first step is a matter of budgeting, and your options are simple: cut costs or increase income. At step two, your options become diverse and complex, and your choices can lead to very different outcomes over the long term.

Is it better to overpay your mortgage or invest the money? Becky Wilding takes a look for Independent Money:

Yesterday saw shares in Barclays rise almost 2.5 per cent and AstraZeneca almost 3.5 per cent after reporting strong profits for the half-year so far.

Greggs, however, fell more than five per cent after confirming a disappointing period – and confirming they’d open more stores this year.

Today it’s the turn of more high-profile names to present their latest reports and we’ll get you a rundown from each in the next hour or two.

Mining firm Rio Tinto, Asia-focused bank HSBC, pharma firm GSK and renewable energy firm UK Greencoat Wind are all on the agenda.

Here are the earlier headlines for you from yesterday to catch up on:

Good morning and welcome to our live blog coverage of all the UK’s business and companies news, where we’ll also bring you stock market movements and everything else regarding your money.

Today we start with more high-profile FTSE 100 firms reporting their latest earnings, with US behemoths Microsoft and Meta doing the same tonight.