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Hamish McRae: Should we keep our powder dry?

We are still in the early stages of the downturn but we can - in a funny way - see more about the policy response to it than we can about its scale and shape.

Global gloom depresses oil price
The price of oil drifts below $55 a barrel, amid increasing worries over falling demand and slowing global growth.
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.

Market Report: DSG hits 27-year low on Citi downgrade

DSG International slumped to its lowest level since the early Eighties last night after its house broker Citigroup, reiterating its "sell" rating, slashed its earnings forecasts for the troubled retail group.

Surprise as High Street fights back

Official sales figures from the UK high street continued to defy expectations today.

Murdoch attacks newspaper doomsayers

Rupert Murdoch tore into the "doom and gloomers" predicting the demise of newspapers yesterday, backing the industry to hit new heights this century, but admitted this involved "moving beyond dead trees".

Falling demand hits BASF profit
The world's largest chemicals firm, BASF, reduces its profit forecast and says it will cut production because of a huge fall in demand.
Government agrees Alitalia sale
The Italian government agrees to sell the bankrupt airline Alitalia to a business consortium, paving the way for a relaunch.
David Prosser: The buy-to-let dream has turned into a nightmare

Pop. There goes another housing bubble. Two years ago, you could barely move without bumping into someone who'd given up on pension plans and other conventional ways to save for old age in favour of bricks and mortar. The buy-to-let boom was the single most important contributory factor to the meteoric rise in UK house prices. Now the hopes of several million savers are being crushed by the collapse of the market.

Pakistan asks IMF for rescue loan
Pakistan has asked the International Monetary Fund for a loan of at least $7.6bn, its top economic adviser says.
No bonus for Barclays chiefs

Barclays said today that executive directors will not receive any annual bonus this year as the bank seeks to pacify investors over its £7 billion fundraising.

Premier Foods pays £5m to delay debt test

Premier Foods is to scrap its interim dividend payment after agreeing to pay its creditors almost £5m in return for a postponement of an examination of whether the company has breached its banking covenants.

Consortium told £950m Trillium buyout will be 'over by Christmas'

Land Securities, the FTSE 100 property giant, has told the consortium bidding for its Trillium outsourcing division that it hopes to conclude the £950m deal around Christmas.

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