Health secretary brands public pension reforms 'unrealistic'

More public sector pensions uproar, UK recovery fears and still no deal on the US debt ceiling. Our round-up of the news from the nationals.

Health secretary Andrew Lansley yesterday attacked his own government's shake-up of public sector pensions. In a private letter to the chief secretary to the Treasury Danny Alexander, Lansley criticised the controversial reforms as ‘inappropriate' and ‘unrealistic'. Daily Mail MORE

Official data out this morning are expected to show sluggish growth of just 0.2% for the quarter to June, half the level predicted by the Office for Budget Responsibility (OBR). Zero growth in the three months to June or a slow third quarter could cost the UK its gold-plated AAA rating, economists now fear.Telegraph MORE

Millions were given a retirement windfall as £19bn was handed out in share dividends in the last three months - the highest level for three years. Dail Mail MORE

President Barack Obama has said America faces a "dangerous stalemate" over how to prevent the country defaulting on its debt, a risk which increased during the last 48 hours after talks in Washington collapsed. Telegraph MORE

Bank lending to British businesses contracted in June at a faster rate than the average of the previous six months, according to the latest data, sounding a gloomy note ahead of second-quarter growth figures out later. FT (subscription) MORE

BP made profits of $5.3bn (£3.2bn) in the three months to 30 June as higher oil prices offset lower production. BBC MORE

UBS reports second-quarter net profit down 49% on last year at SFr1.01bn ($1.3bn). The group said its investment bank's performance was impacted by declining client volumes and lower trading incomes. MORE

Bank of Ireland has been saved from possible government control by a group of overseas institutional investors that has agreed to buy up to €1.12bn ($1.6bn) of its shares, a stake of up to 37%. FT (subscription) MORE