Morning Wrap: today's top business stories

News stories from around the web.

New Statesman

Schneider Electric to acquire Invensys for £3.4bn (FT)

France’s Schneider Electric on Wednesday said that it had agreed a friendly offer to acquire Invensys in a deal valuing the British engineering firm at £3.4bn.

British Gas owner Centrica sees half-year profits rise (BBC)

British Gas owner Centrica has reported a rise in half-year profits, after the unusually cold winter boosted gas consumption.

EADS to be renamed Airbus Group (BBC)

EADS, the parent company of Airbus, says it is to rename itself after its commercial plane-making subsidiary.

Bank of England helped the Nazis to sell plundered gold (Telegraph)

The Bank of England has admitted its role in one of the most controversial episodes in its history - helping the Nazis sell gold plundered from Czechoslovakia months before the outbreak of the Second World War.

Diageo sales fall short after troubles in China and Nigeria (Telegraph)

Diageo, the world's biggest drinks company, has fallen short of a target to grow annual sales by 6pc after it experienced difficult trading conditions in a number of emerging markets, including China and Nigeria.