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FIVE at FIVE: HSBC surprises, Whitbread streamlines, FTSE 100 lifts, Rolls-Royce strikes and Adidas upgrades

1. HSBC unveils buyback alongside CEO's surprise departure

Chief executive Noel Quinn delivered some surprises, including announcing his retirement and a new $3 billion share buyback.

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2.Whitbread cuts 1,500 jobs in overhaul of restaurant business

The Premier Inn owner said it would be cutting jobs and shutting its lower-earning sites.

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3. FTSE 100 closes in the red

The blue-chip index finished the day lower after setting a new record intraday high earlier, with Wall Street wobbles weighing on sentiment.

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4. Rolls-Royce faces month of strikes at submarine site

GMB union members are set to undergo a month-long strike in a dispute over pay.

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5. Adidas raises outlook as Yeezy sneakers remain in demand

Adidas expects to sell €350 million worth of Yeezy stock, nearly two years after it cut ties with Kanye West and his brand.

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In other news...

Poolbeg Pharma agrees 12 month option over orphan drug

Greatland Gold "strongly positioned" to buy Havieron back