Morning business round-up: Barclays boss to be quizzed

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What made the business news in Asia and Europe this morning? Here's our daily business round-up:

Barclays chief executive Bob Diamond is due to face a grilling by MPs after resigning as Barclays chief executive in the wake of the inter-bank interest rate-fixing scandal.

His appearance was arranged before his resignation. He is likely to be quizzed about who knew what and when, and MPs are also expected to ask about the role of the Bank of England and the previous government in the rate-fixing.

There have been suggestions the BoE's deputy governor and senior Whitehall officials knew rates were manipulated.

Manchester United has applied to list on the US stock market in a share sale aimed at raising $100m (£64m).

In documents filed with the Securities and Exchange Commission, the Premier League giant said it was listing on the New York Stock Exchange.

The club had earlier explored the possibility of a $1bn flotation on the Singapore stock market.

United, among the best-supported clubs in the world, said it would use money from the listing to repay debt.

The eurozone's service sector continued to shrink in June and business confidence plunged according to surveys compiled by Markit.

The news is set to add to pressure on the European Central Bank to cut the cost of borrowing in the eurozone when it meets on Thursday.

It has been accused of holding meetings with other LCD makers in a bid to keep prices of the panels at a high level.

The fine comes just months after Taiwanese firm AU Optronics was found guilty on similar charges.

Media caption,
Biz Heads

Japan's biggest supermarket operator, Aeon, says its net profit more than doubled to 13.1bn yen ($164m; £104m) in the three months to the end of May.

Profits were boosted from the 5.8bn yen reported a year ago by sales of its own-brand Topvalu food and clothing.

The group said it was on target for another year of record profits in 2012.

The airline said it would use the money to acquire new planes, including Boeing 787s, and to bolster its finances.

ANA has been facing growing competition from rival Japan Airlines amid a turnaround in the latter's business after its recent bankruptcy.

The share sale will be the largest by a Japanese firm this year.

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