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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.

Shares take another hit as market at 11-year low

Irish shares plunged to a fresh 11-year low yesterday as investors waited for details of the Government's €400bn banking guarantee scheme and fears mounted that lenders across the globe would need to raise capital to recover from the credit crisis.

Lehman's former chief collects $484.8 million

Lawmakers lashed out at Lehman Brothers Holdings Inc. Chief Executive Officer Richard Fuld, peppering him for two hours with queries about excessive Wall Street pay and his failure to acknowledge the firm's financial woes until it was too late.

News, explainers and analysis – see full coverage of the global turmoil
News, explainers and analysis – see full coverage of the global turmoil
IMF takes action to stem crisis
The International Monetary Fund (IMF) activates an emergency finance facility to help countries hit by the financial crisis.
Lenihan gets frosty EU reception over bailout

FINANCE Minister Brian Lenihan received a frosty reception from his European colleagues last night in the wake of the Government's €400bn bailout for Irish banks.

Superwoman dealmaker advises on Irish banks

One of the most influential female dealmakers in the City of London, Henrietta Baldock of Merrill Lynch, is understood to be advising the Government on the future landscape of Irish banking.

Bush vows to stabilise US economy
President George W Bush vows to work "aggressively" to restore economic stability, as world stock markets tumble.
Robert Peston
A global solution is needed to end the economic crisis
Bailout soars to €500bn as six foreign lenders get protection

THE exposure of taxpayers to the State bailout for banks shot up to almost €500bn yesterday after the Government extended the guarantee to include six foreign-owned institutions.

Icelandic wipeout serves up stake in UK pub group to Irish investors

Joe Lewis, a Caribbean-based associate of Irish horse racing tycoons John Magnier and JP McManus, has snapped up a 26pc stake in British pub group Mitchells & Butler after Iraq-born property billionaire Robert Tchenguiz was forced to liquidate his position in the firm.

Financial crisis 'worries Africa'
The chairman of the African Union appeals against any cut in aid following the global financial crisis.
US bans key Indian drug imports
The US FDA says it has banned the import of more than 30 generic drugs made by Indian drug firm Ranbaxy.

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