Re-building trust in banks 'years away', says Andrew Tyrie

Re-building public trust and confidence in banks is still years away, the chairman of the Treasury Committee, Andrew Tyrie, has told the BBC.

Despite a raft of new rules designed to rein in bad practice, a culture change at banks has a long way to go, he said.

"My impression is that the spirit is willing, especially at the top, but sometimes the flesh is weak," he told Wake up to Money.

Mr Tyrie said a lack of confidence in banks was hurting recovery.

Some small firms were wary of asking banks for loans and advice because they felt that dealing with financial institutions was still risky, and that was hindering growth, he warned.

He said:

Eurozone manufacturing at 13-month low

Manufacturing growth in the eurozone slowed to a 13-month low in August, according to a closely-watched survey.

The final Markit's Eurozone Manufacturing Purchasing Managers' Index (PMI) dipped to 50.7 in August, down from 51.8 in July. A figure above 50 indicates expansion.

New orders dwindled and factories suffered amid rising tensions between the EU and Russia over Ukraine.

The figures come ahead of the European Central Bank (ECB) meeting on Thursday.

Markets will be looking for a clear plan from the bank to deal with a stalled eurozone recovery, as well as the threat of deflation with inflation standing at just 0.3%.

There is speculation that ECB boss Mario Draghi could offer further indications later this week that he is considering a quantitative easing scheme for the eurozone, similar to those taken by

Personal well-being, consumer confidence indices in Nigeria drop in June

Reversing the upward trend in personal well-being index (PWBI) that began in March this year, last month’s results for the NOIPolls PWBI shows a decline by 1.6-points to stand at 41.4, even as the consumer confidence index (CCI) declined slightly by 1.6-points to stand at 69.5.

The NOIPolls PWBI measures factors impacting on the lives of everyday Nigerians to produce a complete view of the individual’s personal well-being, while the CCI provides consumer assessments of the economic situation and their intentions and expectations for the future.

According to highlights from the June 2013 Portfolio of Indices released on