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Gordon Brown appealed to UK banks to pass on any interest rate cuts from the Bank of England in parliament this lunchtime.

Bank Pressured For Big Rate Cut
Bank of England rate-setters meet today under pressure to deliver the biggest cut in interest rates for more than 15 years.

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- U.S. president-elect Barack Obama, hoping to boost a struggling economy, has proposed a stimulus package that some experts estimate could cost as much as $190 billion.

SCENARIOS-Obama faces acute economic challenges (Reuters via Yahoo! UK & Ireland News)
- After his triumph at the polls on Tuesday, U.S. president-elect Barack Obama will face a host of economic problems on a scale not seen since the 1930s.

Bank Pressured For Big Rate Cut (SkyNews via Yahoo! UK & Ireland News)
Bank of England rate-setters meet today under pressure to deliver the biggest cut in interest rates for more than 15 years.

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Business minister Peter Mandelson urged banks Tuesday to pass interest rate cuts on to customers as markets are preparing for the Bank of England to slash rates by 75 basis points later this week.

Hamilton: Lewis Learns His Lesson
Anthony Hamilton believes son Lewis will become a stronger driver as the years roll by as he is someone who learns quickly from his mistakes.

Australia central bank slashes rates again (Reuters via Yahoo! UK & Ireland News)
Australia's central bank cut its benchmark cash rate by a bigger-than-expected 75 basis points on Tuesday, in an increasingly urgent effort to save the economy from the recession rapidly engulfing much of the developed world.

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The global financial crisis is pushing the whole European Union into recession, official forecasts showed on Monday, as South Korea unveiled its own 8.5 billion dollar stimulus package against the turmoil.

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British ministers will hold talks with a leading Scottish businessman over a possible rival bid for mortgage lender HBOS, which has been hit hard by the subprime crisis, the government confirmed Saturday.

New Zealand offers guarantee to stop banks running out of cash
The New Zealand government confirmed Saturday it will guarantee wholesale bank deposits in a scheme that it hopes will stop the financial system running out of cash.

Consumers curb spending, deepening recession fears
Sharp falls in consumer spending in the United States and Germany deepened fears of a global recession as stock markets ended one of their most traumatic months in history with mixed results.

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The New Zealand government confirmed Saturday it will guarantee wholesale bank deposits in a scheme that it hopes will stop the financial system running out of cash.

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Roughed up by the global credit crunch and Wall Street layoffs, dozens of mortgage bond traders turned their talents to music in a Halloween rock concert that raised about $50,000 for charity.

US-LIFE Summary
Gadgets still a centerpiece of holiday shopping

One in five U.S. homeowners with mortgages in negative equity
Nearly one in five U.S. mortgage borrowers owe more to lenders than their homes are worth, and the rate may soon approach one in four as housing prices fall and the economy weakens, a report on Friday shows.

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The Business Secretary Peter Mandelson is to confirm that the Lloyds TSB/HBOS deal can go ahead as the Tories prepare to attack the PM over borrowing.

HBOS Deal Looks Set To Go Ahead
Business Secretary Peter Mandelson is to confirm the Lloyds TSB/HBOS deal can go ahead as the Conservatives prepare to attack the PM over borrowing.

Japan cuts rates (Reuters via Yahoo! UK & Ireland News)
Japan cut interest rates for the first time in seven years on Friday, expecting severe stress in the global economy to persist, while banking giant Barclays said it was raising 7.3 billion pounds in capital.

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The Business Secretary Peter Mandelson is to confirm tomorrow that the Lloyds TSB/HBOS deal can go ahead, according to Sky sources.

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Bank of China said it had posted 26.3 billion yuan in potential losses on assets at the end of September, partially related to US subprime mortgage-backed securities.