October 16, 2008

• World Bank rules out immediate crisis fund for Southeast Asia

  » Click here for the original articleThe World Bank pledged Wednesday to help Asian nations hit by financial turmoil but ruled out immediate prospects for a funding facility for Southeast Asia to cope with the current crisis. (…)

• Leaders eye finance overhaul as markets tumble

  » Read the complete articleEmergency measures to tackle the financial crisis provided little relief for nervous investors Thursday, as stock markets around the world took a battering on fears of a global recession ahead. (…)

October 15, 2008

• Financial crisis looms over London art extravaganza

  » Read the full storyThe art world descends on London this week for a packed calendar of fairs and sales, and the talk over cocktails and canapes will center on whether financial turmoil is about to end the art market's gravity-defying boom.

• US Fed official raises new fears on economy

  » Read the complete articleA top Federal Reserve official raised new fears about the health of the US economy, adding to worries of a global slowdown while nations are already battling a serious crisis in money markets.

October 14, 2008

• CORRECTED – House sales fall to 30-year low

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• Property Sales Slowing To A Crawl

  » Read the complete articleThe number of first-time buyers getting on to the property ladder slumped to a record low during August, the Council of Mortgage Lenders has said. (…)

October 13, 2008

• House price falls accelerate in Sept

  » Read the complete articleThe decline in British house prices accelerated in September and sales fell to the lowest level in at least 30 years, a survey showed Tuesday, in a sign the housing market slump may have some way to go yet.

• Santander injects £1bln into Abbey National

  » Read the full storySpain's biggest bank Santander on Monday said it had injected one billion pounds into its Abbey National arm in support of the government's banking bailout. (…)

• Australian shares jump 5.7 percent in early trade

  » Read the full storyAustralian shares jumped 5.7 percent in early trade on Monday after the government guaranteed bank deposits following a breathtaking stocks plunge last week. (…)

October 12, 2008

• Australia to guarantee bank deposits for three years

  » Read the full storyAustralia will guarantee all bank deposits for three years and will also guarantee wholesale funding to Australian banks in an attempt to combat the global credit crisis, Australian Prime Minister Kevin Rudd said on Sunday.

• IMF warns of meltdown

  » Read the full storyThe IMF warned the world's financial system was near meltdown and France promised that a meeting of European leaders in Paris will detail measures to keep a market panic from triggering the most severe global downturn in decades.

October 11, 2008

• U.S. plans to buy financial equity

  » Read the full storyThe United States is developing plans to buy equity stakes in financial institutions, providing another weapon in its war against financial market turmoil, U.S. (…)

• U.S. plans to buy financial equity

  » Read the full storyThe United States is developing plans to buy equity stakes in financial institutions, providing another weapon in its war against financial market turmoil, U.S. (…)

• G7 aims broad five-point action plan at global crisis

  » Click here for the original articleThe finance chiefs of the Group of Seven major advanced economies announced have a broad five-point action plan to tackle a global crisis that has markets and the banking system reeling. (…)

October 10, 2008

• Market tailspin steps up pressure for world action on crisis

  » Read the complete articleGlobal stock markets went into freefall on Friday as pressure mounted for decisive action from world leaders to contain the worst financial crisis since the Great Depression.

• Number seeking arrears advice soars

  » Read the complete articleThe number of people seeking help after falling behind with their mortgage has soared by more than 50% during the past year, figures have showed. (…)

October 9, 2008

• House prices fall at record rate

  » Click here for the original articleHouse prices have dived by more than 13% during the past year, wiping nearly £26,500 off the value of the average home, Britain's biggest mortgage lender said.

• Central banks cut rates but markets stay fearful

  » Read the full storyCentral banks around the world cut interest rates in unison on Wednesday but the unprecedented move failed to help battered stocks, thaw credit markets or temper forecasts for a sharp global economic downturn. (…)

October 8, 2008

• Global economy in 'major downturn' from financial crisis: IMF

  » Read the full storyThe International Monetary Fund said Wednesday that the global economy was sinking in a maelstrom of financial turmoil and faced a painful crawl toward recovery in 2009. (…)

• Land of Leather profit collapses and outlook bleak

  » Click here for the original articleFurniture retailer Land of Leather reported an 87 percent drop in annual profit on Wednesday, falling foul of an economic downturn and weakening consumer confidence, and said 2009 would be challenging.