Rolling business and financial news through the day, with Mark Carney due before MPs at 2.45pm BSTPound inches back in early tradingFX broker reports surge in demand after sterlings slideThe agenda: Treasury committee to quiz Bank of EnglandSantanders Emilio Botin dies 10.22am BST Lloyds CEO Antonio Horta-Osorio says Emilio Botin was a "great mentor to me" 10.18am BST Greece remains in deflation, although the pace of decline eased last month, according to the latest consumer prices figures.Prices fell by 0.3% in August, compared to a year earlier, following a 0.7% drop in July. Thats a smaller fall than expected, but means prices have shrunk for the last 18 months running as the countrys austerity programmes hit demand and push down wages.Disdeflation.. RT @TradeDesk_Steve: Greek h CPi was much less negative than expected at -0.2% v -0.5% expected 9.58am BST If Ana Botin does leave @santanderuk for Madrid, it will be a huge loss for UK business. She has been terrific - a breath of fresh air. 9.52am BST More reaction to the death of Santander chairman Emilio Botin (see 8.38am), which may mean daughter Ana will take over.One of the titans of European banking, Emilio Botin, dies. Built up Santander into behemoth status. Successor presumably his daughter Ana?Assumption was Emilio Botin wd retire at 83 like his father; Ana would take over after listing Santander UK. His death at 79 changes things.*ANA BOTIN SAID TO SUCCEED EMILIO BOTIN AS SANTANDER CHAIR: SKY 9.50am BST The main event of the day will be Mark Carneys appearance, with senior colleagues, at the Treasury committee at 2.45pm, says Ilya Spivak, currency strategist at DailyFX.Carney is testifying on last months inflation report, alongside deputy governor Nemat Shafik and MPC committee members Martin Weale and David Miles.Mr. Carney argued in favor of an initial rate hike by spring of 2015 with gradual tightening thereafter in a speech in Liverpool yesterday. At least one of his colleagues also due to testify sees that as too dovish considering Mr. Weale was one of the two dissenting votes in favor of an August rate increase. The British Pound paused to digest losses yesterday, ending a 5-day losing streak, as feverish fears of the looming Scottish Independence referendum cooled absent novel news-flow (as expected). If the cumulative tone of BOE officials rhetoric betrays a growing hawkish consensus, the UK unit may at last find fuel for a meaningful recovery. 9.33am BST Quelle surprise. France has announced that it wont hit its deficit targets. 9.19am BST Some detail on the new boss of Kingfisher:New Kingfisher CEO Veronique Laury is a competitive showjumper. She has completely renovated three homes. And, yes, she's a mother of 3. 9.08am BST Housebuilder Barratt Development has doubled its profits, thanks to the recovery in the UK property market.But the party may be over. Barratt says things are settling down to a more sustainable pattern, after the governments Help to Buy scheme sparked demand last year. 9.08am BST Back on the pound.... Societe Generales currency expert Kit Juckes has predicted that sterling could call further, after stabilising this morning..@kitjuckes: "sterling has fallen a bit too fast in the near term and is due a bounce, but there is more downside to come" #indyref 8.52am BST Sir Ian Cheshire, Kingfishers outgoing CEO, has repeated his concerns about Scottish independence.Speaking to reporters this morning, Cheshire warned that consumers could face higher prices, and argued that theres no chance of a currency union being hammered out. Kingfisher CEO says Scottish yes vote = price rises and less investment. Keeping £ and staying in EU no matter what "is not going to happen"Kingfisher CEO says Scots must "take this extremely seriously". "There is no way that currency union will be permitted."Kingfisher CEO Cheshire expects other business leaders to come out against independence in the next few days. Nothing coordinated though. 8.49am BST All change at British DIY chain Kingfisher, with CEO Sir Ian Cheshire announcing his departure this morning.Hell be replaced by Véronique Laury, the head of Kingfishers French DIY business, taking the number of female FTSE 100 bosses up to five. 8.39am BST A slightly stronger start today for the UK Pound £ as it pushes above US $1.61 and nears 172 Yen #GBP 8.38am BST One of Europes most venerable bankers has died.Emilio Botin, chairman of Spanish banking giant Santander, passed away last night after a heart attack, the company announced.BREAKING: Santander says Chairman Emilio Botin has died http://t.co/mBHCbLdvbv pic.twitter.com/BQx14Nu9zIDeath of Emilio Botin is momentous: the last of Europe's owner/manager bankers. Will have repercussions for Santander in UK 8.29am BST Foreign exchange broker HiFX had reported a jump in business since opinion polls began to show the Yes campaign gaining momentum in Scotland.It says inquiries are up 67%, and currency transfers up 35%, since Sundays YouGov poll showed a majority of Scots would vote for independence.Having held off making transfers as they watched the pound steadily rise against many of the worlds currencies, it seems as if the recent polls have focused clients minds. In the last two days, enquires from both private individuals and businesses have shot up 67% as Brits around the world look to protect themselves or take advantage of the sterlings sudden dip. 8.19am BST The pound has inched back from its 10-month lows in early trading, as foreign exchange traders take a rest from pummelling sterling.One pound is trading at $1.613 this morning, up 0.16% - small relief given its 6.5% slide since mid-July.Referendum poll event risk is now writ large, and respite is unlikely to be on the agenda, even if the pound does look very oversold short-term. 8.10am BST Good morning, and welcome to our rolling coverage of the financial markets, the world economy, business and the eurozone.Global equities have retreated with the wall of worry across major economies sending investors into a cautious mode. There are a number of key issues plaguing sentiment at the moment, including a more hawkish Federal Reserve, a struggling China economy, the Scottish referendum and potential hiccups for the ECBs stimulus plans. Continue reading...
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