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M&S outlets in Ireland are hit worse than those in UK

IT'S not just an ordinary recession, it's a Marks & Spencer recession.

Charities see £120m frozen in Iceland bank collapse

Leading charities have tens of millions of pounds frozen in collapsed Icelandic banks, it emerged yesterday. The Government was locked in talks with charity group leaders amid an estimate that British organisations may have £120m tied up with Iceland's trio of troubled lenders.

Darling defends half-trillion pound package

Chancellor of the Exchequer Alistair Darling said a 500 billion-pound (€643 billion) rescue package, the biggest in U.K. history, will ''go a long way'' to prevent the banking system from collapse.

Trichet sends clear signal: loan rate cuts on the way

EUROPEAN Central Bank bosses revealed yesterday they have discussed cutting interest rates, a development that prompted more economists to predict that rates are likely to start coming down soon.

C&C chief executive resigns

C&C Group Plc, the Irish maker of Magners cider, reported a profit slump, cut its dividend and said Chief Executive Officer Maurice Pratt will resign after a two- year strategy to reinvigorate sales failed to achieve his aims.

Elan falls after Merrion cuts rating

The pharma's stock fell after a downgrade from 'hold' to 'reduce' by Merrion Capital

Oil prices fall to lowest since December 2007

Crude oil fell, giving up a rebound that followed coordinated interest rate cuts by central banks in the U.S., Europe and China intended to thaw credit markets.

Financial crisis could claim English soccer teams

The chairman of English soccer's governing body said the country's clubs have debt of 3 billion pounds (€3.9 billion), and conceded that a team may become a victim of the meltdown in the world's financial markets.

Iceland bails out lender and pins hopes on €4bn Russian loan

ICELAND took over its second largest bank, propped up a battered currency and said it hoped Russia would lend €4bn to help tackle a financial crisis threatening to overwhelm it.

Banking giants to be nationalised

Two of Britain's biggest high street banks will in effect be nationalised today in a dramatic move by the Government that follows a day of international negotiations aimed at co-ordinating a pan-European approach to the global financial crisis.

With Aer Lingus off on a bumpy ride, it's best to steer well clear

On Monday, Aer Lingus chief executive Dermot Mannion finally revealed the extent of swingeing cuts he wants to impose in order to rationalise the airline and save €74m as it faces renewed threats to its survival.

ECB cuts interest rates in co-ordinated global move

The European Central Bank has cut interest rates by half of one percentage point today as part of a co-ordinated cut in interest rates across the world.

Q&A: The British Bank rescue

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