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FTSE 100 bosses earn 5.5m a year, report says

The bosses of Britain's biggest publicly listed companies now have an average pay packet of nearly 5.5m.

The FTSE 100 continues to rise following Thursday's UK interest rate cut, but RBS shares fall after it reports worse-than-expected losses.

The 100 share index makes a 1% upward swing on rate cut and the pound falls by around 1% against the dollar and the euro.

Retailer Next has led shares higher on the FTSE 100 index after reporting a rise in overall sales in the three months to the end of July.

Bank shares drag the FTSE 100 lower, as the banking sector across Europe comes under pressure.

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