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Credit crisis diary: Look at all those beautiful white teeth

Much mirth at SocGen's pre-Christmas drinks at 24, a trendy bar round the back of Carnaby Street. Proudly introducing the French bank's new corporate video, UK md Alain Bataille told revellers how pleased he was that it featured "pictures of our smiling employees". Unfortunately, the TV screens in 24 were still playing the sort of visuals the bar for some reason thinks will relax punters. Cue a platoon of ferocious-looking sharks swimming through the ocean.

Comet's credit insurance cut back as crisis spreads

The UK electricals chain Comet has become the latest big retailer to have its credit insurance scaled back, as the consumer recession and financial crisis gripping the retail sector spreads.

National Express to axe 300 jobs

The jobs axe cut into the rail industry today when a leading firm told union leaders it was shedding more than 300 jobs.

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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.

Sir Stelios may return as easyJet chairman in row over strategy

The founder of easyGroup, Sir Stelios Haji-Ioannou, yesterday threatened to reinstall himself as chairman of easyJet during a row about the airline's growth strategy.

Investment Column: Bodycote tarnished by auto industry links

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.

Barclays Upgraded To Outperform At Exane BNP Paribas
Barclays Upgraded To Outperform At Exane BNP Paribas
Stephen King: Another British currency crisis – it's enough to make you feel nostalgic

Stick your head out of the window, inhale deeply, and enjoy the sweet, yet sickly, scent of nostalgia. It's everywhere. On a Saturday night, you can settle down in front of the television to watch the X Factor or Strictly Come Dancing, throwbacks to the days of Opportunity Knocks, New Faces and the BBC's Seaside Special. You can bask in the reflected glory of our summer Olympians who won the most British medals since the 1908 Olympics when the tug o' war was, apparently, taken rather seriously. Or you can look at sterling's sudden collapse and think of the seemingly countless occasions when Britain's economic prospects were undone as a result of a currency crisis.

London warned as Citigroup axes 50,000

Citigroup Inc. is cutting approximately 53,000 more jobs in the coming quarters as the banking giant struggles to steady itself after suffering massive losses from deteriorating debt.

Pound sinks to record low against the euro

In July,£1 would still buy $2; lower than its recent record of $2.11 set last November, but healthy enough for shopping trips to New York to make sense. Yesterday, sterling was trading at about $1.48, a six-year low. Macy's and Sachs of Fifth Avenue may soon notice a sharp decline in the number of British accents at the tills.

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