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Credit insurers face huge rise in premiums

Credit insurers face having to pay big increases in reinsurance premiums in the coming months as the effects of the credit crunch worsen.

David Prosser: The jams are no easier this side of the Atlantic

Outlook While the collapse of America's largest car manufacturers continues to fascinate and appal in equal measure, relatively little attention has been paid to the dismal outlook facing the US auto giants' opposite numbers in Europe. Britain's car industry, for example, is in a desperate state, with sales down 23 per cent last month to their lowest levels since 1991.

David Prosser: Deflation is scary. So too is a policymaker in a blind panic

Outlook Here's a thought about the terrifying spectre of deflation now looming large if the much bigger than expected fall in inflation seen last month is a taste of things to come. It may not be so terrifying.

Fed's Lacker: Zero Interest Rates Won't Stop Central Bank
Fed's Lacker: Zero Interest Rates Won't Stop Central Bank
Yahoo faces up to life after Jerry

After a turnaround plan that never got off the ground, falling profits and a disastrous reaction to his rejection of Microsoft's advances, Yahoo chief executive and founder Jerry Yang has fallen on his sword after 18 months at the helm.

Rate of housebuilding has halved in the past year

The Government pledged to fight on to meet housebuilding targets yesterday, despite a fall in new starts to a record low. Seasonally adjusted housebuilding starts fell by a third in the three months to September, compared with the quarter to June. Compared with a year earlier, they almost halved.

Honda to halt production for two months

Car giant Honda is to halt production at its UK plant for two months next year in the wake of the "dramatic change" in the global market, the firm announced today.

Former B&B chief 'massively sorry'for demise of lender

The boss of Bradford & Bingley issued a public apology yesterday as he told a Commons Treasury Select Committee hearing that nationalisation had been the only option after a run on his bank. The former Bradford & Bingley chairman Rod Kent apologised for his management's role in the lender's demise and said the bank's board "accepts it is fully accountable for what happened" and was "massively sorry".

US car makers get frosty reception in bailout plea

The bosses of the big three US carmakers were lambasted for flying on corporate jets as they came to Washington to plead for money to stave off their companies' bankruptcy.

Market Report: Debt fears weigh on Johnston Press

The Regional newspaper publisher Johnston Press lost more than 19 per cent of its value last night after analysts at Teathers said that a covenant breach looked "likely" in light of new assumptions about the impact of the current advertising slowdown.

How India caught the world's cold

House prices are plummeting, credit markets have become frozen, business and consumer confidence are collapsing, the auto industry is at a standstill, and the stock market is off more than 50 per cent.

David Prosser: It's not how big the bonus is, but how you hand it out

Wouldn't it be lovely to characterise the decision by Goldman Sachs executives to give up their bonuses as a triumph for the millions of mere mortals who have been enraged by the staggering awards paid to investment bankers? Would that it were so, but the reality of the Goldman affair is more spin than substance.

Car hire firm Avis to axe jobs

Car hire firm Avis Europe today said it planned to cut 315 jobs - equivalent to 5 per cent of its workforce - and close some rental locations.

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