IHG unveils plans for new mid-scale brand The hotel group said the as yet unnamed brand would be priced cheaper than its Holiday Inn Express brand and would target guests who want "the basics done exceptionally well". The first hotels will be under construction by 2018. Read more.

Qatar Airways aims to buy 10% of American Airlines The unsolicited bid is worth at least $808m, according to a regulatory filing. American Airlines CEO Doug Parker said: "While anyone can purchase our shares in the open market, we aren't particularly excited about Qatar's outreach." Read more.

Carnival Corporation posts revenue growth of 6.5% to $3.95bn for the second quarter The company, which owns cruise line brands such as Carnival, Princess Cruises and P&O, also announced second quarter earnings of $378m, up from $370m during the same period last year. Read more.

Saga reports good start to the year in core businesses In a trading update, Saga's CEO Lance Batchelor said: "We remain on track to deliver on our strategic objectives, including the launch of our membership scheme, Saga Possibilities, which will go live later this year." Read more.

Giraffe reports uplift in sales at remodelled restaurants The Boparan Restaurant Group-owned chain said each of its remodelled sites had delivered an uplift in like-for-like sales of 13%. The company relaunched certain sites as Giraffe World Kitchen last year. Read more.

Go-Ahead Group reports ‘stabilised’ performance The transport company announced 3% revenue growth on the Southeastern rail franchise, which runs between London and Kent. Passenger revenue and journeys fell 4% in the past year on Govia Thameslink Railway. Read more.