'Satisfactory' half-year for Aviva

Insurance giant Aviva reported a “satisfactory” first half after cost-cutting boosted earnings by 5%, but delivered another blow to investors as it almost halved its interim dividend payout.

The group confirmed a cut in its divi from 10p to 5.6p, having already warned earlier this year it would be reduced in line with the mammoth cut to its full-year payout.