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US regional bank PNC, tapping into a Treasury emergency fund, said Friday it is buying National City in a 5.6 billion dollar deal to create the nation's fifth largest bank by deposits.

GDP seen falling as recession looms
The economy is expected to have contracted in the three months to September, with policymakers and economists now increasingly certain that the country's first recession since the early 1990s is underway.

Data to confirm looming recession (ITN via Yahoo! UK & Ireland News)
Britain's slide towards recession looks likely to be confirmed later when official figures are released.