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BookmarkOil price goes below $50 a barrel
Oil prices fall below a barrel amid growing fears over a global recession and lower demand for oil.
Source: BBC News | Business | UK Edition
Banks ‘must kick-start lending’
Banks must start lending again to households and businesses, or face being named and shamed, the Treasury Select Committee chairman says.
Source: BBC News | Business | UK Edition
Fullers upbeat amid downturn
Fuller, Smith & Turner says it is confident it will “cope well” even though the UK economic outlook did “not look good”.
Source: BBC News | Business | UK Edition
RBS boss apologises over losses
Royal Bank of Scotland (RBS) chairman, Sir Tom McKillop, says he is “profoundly sorry” for the bank’s financial difficulties.
Source: BBC News | Business | UK Edition
Dell sees quarterly profits slip
US computer maker Dell sees its quarterly profits fall as customers around the world buy fewer computers.
Source: BBC News | Business | UK Edition
No agreement for US car bail-out
US carmakers are given a deadline to produce a viable recovery plan if they want a bn government bail-out.
Source: BBC News | Business | UK Edition
Singapore officially in recession
Singapore downgrades its economic growth figure, which confirms it was Asia’s first country in recession in the current financial crisis.
Source: BBC News | Business | UK Edition
Recession fears hit Wall Street
Wall Street shares fall steeply for the second day in a row, amid investors’ growing fears of a protracted economic downturn.
Source: BBC News | Business | UK Edition
Retail sales bring scant comfort
Sales on the UK’s High Streets fell by a lower-than-expected 0.1% in October, Office for National Statistics figures show.
Source: BBC News | Business | UK Edition
Citigroup ‘considering options’ as shares plunge
Citigroup one of the world’s largest banks is considering selling parts of the business or merging with another company according to reports in the US.
Source: Telegraph Finance
Petrol prices could fall by more than 10p a litre by Christmas
Petrol prices for drivers in the UK could fall by more than 10p a litre by Christmas.
Source: Telegraph Finance
Asian markets rebound after US slump
Asian stocks have rebounded despite the overnight slump in New York and oil falling below 50 a barrel.
Source: Telegraph Finance
One in five home sellers are ‘forced downsizing’
A fifth of homes on the market are being sold because the owners can no longer afford to keep up with mortgage payments according to a new survey.
Source: Telegraph Finance
Woolworths lenders balk at rescue plan
Lastditch talks to rescue Woolworths are close to collapsing after the retailer’s lenders refused to sign up to a deal.
Source: Telegraph Finance
US markets plunge to 11year low
US markets plunged to 11yearlows as concern over liquidity in the banking sector was compounded by failure to reach a funding deal for car makers and oil falling below 50 a barrel.
Source: Telegraph Finance
L?G reluctantly supports Barclays fundraising
Barclays’ largest institutional shareholder Legal ? General is reluctantly supporting the bank’s controversial fundraising.
Source: Telegraph Finance
When money is tight people spend less. Are you listening Mr Darling?
Jeff Randall argues that the root cause of this economic misery is debt and the government must start to redeem its IOUs.
Source: Telegraph Finance
CBI boss is a realist not a pessimist
Directorgeneral Richard Lambert is feeling slightly uneasy that the CBI might be overdoing the economic doom and gloom.
Source: Telegraph Finance
Small business role small hours big pay
City Diary
Source: Telegraph Finance
Taylor Wimpey falls despite Monarch selloff
Hopes that embattled housebuilder Taylor Wimpey may get £100m - £150m for its Canadian division failed to buoy the shares.
Source: Telegraph Finance
Brazil and China emerge as models of stability while UK looks risky bet
When is an emerging market no longer an emerging market? And what happens to developed markets if they start to well backslide?
Source: Telegraph Finance
Mothercare worth adding to your family of shares
Mothercare290p 21½pQuestor says Buy
Source: Telegraph Finance
McKillop may be apologetic over RBS woes but he remains in denial
City Comment
Source: Telegraph Finance
Europe’s superbank EIB enters perilous waters
The European Investment Bank has seen its arrears rate surge over recent weeks writes Ambrose EvansPritchard.
Source: Telegraph Finance
Barclays and Santander set unwanted precedent in their rush for capital
Preemption rights are getting left behind.
Source: Telegraph Finance
Saudi prince backs Citigroup despite share slide
Shares in global banking conglomerate Citigroup slid to 14yearlow despite strong words of support from one of its largest backers.
Source: Telegraph Finance
Blow for US car industry
The US car industry was dealt another blow after it emerged politicians were unable to agree on whether to advance a lifeline to the big three manufacturers.
Source: Telegraph Finance
Financial crisis: UK can’t afford its shopping addiction anymore
Britain has become a nation of shopaholics but at last we might have to get to grips with the addiction.
Source: Telegraph Finance
Dire public finances exposed with first October deficit in 14 years
The dire state of the public finances was underlined as official figures showed the budget deficit widened in October.
Source: Telegraph Finance
GE talks to sovereign wealth funds over tieups
General Electric is speaking to a number of sovereign wealth funds about possible joint ventures in infrastructure projects.
Source: Telegraph Finance
Switzerland’s shock rate cut unnerves markets
Switzerland has slashed interest rates a full percentage point to 1pc in an emergency move.
Source: Telegraph Finance
Another £3bn at risk in Northern Rock
Another £3bn of taxpayer money has been put at risk in Northern Rock after its offbalance sheet funding vehicle went into runoff.
Source: Telegraph Finance
Oil falls below 50 a barrel for first time in three years
Crude oil fell to its lowest price in more than three years dipping below 50 a barrel on recessionary fears.
Source: Telegraph Finance
Halfords sees resilient first half
The carparts retailer said profit in the first half was boosted by sales of bicycles and car maintenance products.
Source: Telegraph Finance
Advertisers want to save ITV pricing regulation
Advertisers have said that the Contracts Rights Renewal CRR remedy introduced to protect advertisers from ITV’s market dominance must not be scrapped despite the “unprecedented worsening economic situation” hitting the broadcaster’s revenues.
Source: Telegraph Finance
Daily Mail Independent in talks to merge back offices
Daily Mail ? General Trust is in talks with Independent News ? Media to combine the back offices of their Londonbased newspapers.
Source: Telegraph Finance
RBS apologises for near collapse
Royal Bank of Scotland executives bowed to pressure and apologised to shareholders for the near collapse of the bank.
Source: Telegraph Finance
Young’s suffers from London slowdown
Young ? Co’s the Londonbased pub company has seen likeforlike sales slide 3.3pc since the end of September as the capital’s leisure sector finally succumbs to the effects of the economic downturn.
Source: Telegraph Finance
Veteran US investor says global economy could recover quickly
A leading US activist fund manager has said that the global economic slump could be more than half way through.
Source: Telegraph Finance
UK Treasury lends Iceland £2.2bn to compensate Icesave customers
The UK is loaning Iceland £2.2bn to help pay compensation to British customers of the failed internet bank Icesave.
Source: Telegraph Finance
"It’s recession not Armageddon" cautions Next chief Wolfson
The chief executive of high street retailer Next said that any tax cuts in the PreBudget Report must be sustainable.
Source: Telegraph Finance
German rail giant seeks strategic investors
Deutsche Bahn has opened talks with potential investors from Saudi Arabia Russia and Asia over raising fresh cash for expansion.
Source: Telegraph Finance
Calls for lower gas bills as oil falls below 50 a barrel
There were renewed calls for gas companies to cut their customer bills last night after the price of oil fell below 50 a barrel for the first time in more than three years.
Source: Telegraph Finance
Women should be appointed to bailedout banks says report
Women should be appointed to the boards of banks that have bailed out by the Government a new study suggested.
Source: Telegraph Finance
Government borrowing running at double last year’s level
A collapse in companies’ tax payments has pushed the Government’s finances further into the red with borrowing by the Treasury running at almost double the level of last year.
Source: Telegraph Finance
New wave of job cuts at leading UK companies
RollsRoyce BAE Systems and AstraZeneca have dealt a further blow to the economy by announcing job cuts totalling 3600.
Source: Telegraph Finance
One in eight pubs could close over next three years as recession bites
One in eight pubs could close over the next three years because of competition from the supermarkets and the impending recession a leading beer group has warned.
Source: Telegraph Finance
FTSE 100 drops as recession fears hit oil giants
The FTSE 100 dropped as gloomy economic data from the US heightened concern the recession is deepening.
Source: Telegraph Finance
CBI warns that companies face new pensions crisis
British companies are struggling to cope with a multibillion pound pension bill due to the economic crisis the CBI has warned.
Source: Telegraph Finance
Scotland should have its own Treasury and Chancellor says think tank
Scotland should have its own Treasury and Chancellor of the Exchequer with the power to raise all the money it spends a leading think tank has concluded.
Source: Telegraph Finance