Morning Wrap: today's top business stories

News stories from around the web.

New Statesman

Barclays reveals £12.8bn balance sheet hole (FT)

Barclays has revealed a £12.8bn hole in its balance sheet as it announced a £5.8bn rights issue, buttressed by a plan to shrink its balance sheet and issue £2bn of contingent convertible debt.

UBS to buy back toxic assets fund from Swiss National Bank (FT)

UBS said that it will buy back the fund set up to help deal with its toxic assets at the height of the financial crisis, as the Swiss bank reported a 32 per cent rise in net profits in the second quarter.

UK 'losing fight' against internet crime, warn MPs (BBC)

The UK must do more to stop online fraud and deter state-sponsored cyber-espionage or risk losing the fight against e-crime, MPs have warned.

Thousands in their 50s fear losing homes, says Age UK (BBC)

Nearly a quarter of people in their early 50s polled by Age UK are afraid of falling on hard times and being forced out of their homes.

ITV 'shows real momentum' with rise in revenue and profits (Telegraph)

ITV overcame a 3pc drop in advertising sales in the first half of the year to record a 2pc rise in overall revenues as it continued to grow its production business.