Hollingsworth Daily Post

• French car giant Peugeot Citroen has reported a return to profit in the first half of the year, driven by strong demand in China and new models.Net profit came in at 680m euros ($885m; £567m) for the six months to the end of June, compared with a loss of 962m euros a year earlier.
  Revenues increased by 21% to 28.39bn euros.
• Steel giant Arcelor Mittal has reported a big jump in profits between April and June, with sales up as the global economy continues to recover.Net profit was $1.7bn (£1.1bn), compared with a loss of $792m in the same period a year earlier and a profit of $679m in the previous quarter.
  Revenue for the period rose by 43%, from $15.2bn to $21.7bn.
• South Korean electronics firm LG Electronics has reported a slump in profits of a third as it struggles to keep pace in the smartphone market.Net profit came in at 856.4bn won ($723m; £463m) for the three months to the end of June, down 33% on the 1.28bn won it made a year earlier.
• Defence group BAE Systems and engine supplier Rolls-Royce have signed a £700m deal to supply India's Hindustan Aeronautics with 57 Hawk training jets.Over £500m will go to BAE and £200m to Rolls-Royce in the deal that should create about 200 jobs in the UK.The jets will be used to train pilots in the Indian air force.
• David Cameron has begun a two-day visit to India with the aim of strengthening relations and creating jobs in the UK.The prime minister is leading what Downing Street describes as the largest UK trade delegation in living memory.Beginning his tour in Bangalore, Mr Cameron will say he wants to make the UK the "partner of choice" for India.
• BP will emerge from the Gulf of Mexico oil spill crisis a smaller and wiser company, according to the man who is due to take over the reins.Bob Dudley, currently in charge of BP's clean-up operation, will replace Tony Hayward as chief executive in October.Mr Dudley described the oil spill as a terrible tragedy from which the company and the industry would learn a lot.

BBC Business News 28th July 2010