All you need to know from today’s papers

We bring you a round-up of the rest of this morning’s news.

Pensioners suffer higher inflation
The inflation rise from 4.2% to 4.4% in July will hit pensioners hardest, Alliance Trust said.

People aged between 65 and 74 have an effective inflation rate of 5.1% as they have the greatest exposure to petrol, electricity and food price rises, the Telegraph reports.

Unemployment falling
Jobs figures are expected to show unemployment fell in the three months to June but at a slower rate than in the previous quarter.

The number of unemployed is expected to fall by 10,000 over Q2 to 2.44 million people, the Guardian reports.

The unemployment rate will remain at 7.7%.

Govt refuses bomb investment regulation
The government has refused to create legislation preventing banks' investment in companies that make cluster bombs.

Despite pressure drummed up by an Independent campaign, Number 10 said though it is illegal to invest directly in cluster bombs, it will not intervene when banks invest in the arms manufacturers which make them.

Royal Bank of Scotland, HSBC and Barclays have invested millions of pounds in arms giants Textron and Alliant Techsystems, which make parts of cluster bombs.