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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.

Asian markets hammered overnight

Asian stocks tumbled, driving Japan's Nikkei 225 Stock Average down as much 11 percent, and U.S. futures fell on concern the deepening credit crisis will push the global economy into recession.

Global shares plummet amid raft of new bailouts

Shares plunged globally yesterday as investors baulked at the raft of fresh bailouts across the European banking sector and fears of a deep recession in the US pushed oil prices below $90 a barrel for the first time since February.

Number of jobless will hit 300,000 next year

UNEMPLOYMENT is set to spiral to 8pc next year, a level not seen since the early days of the Celtic Tiger in 1998.

Radio Address by President Bush to the Nation
... update: 10:06 a.m. EDT Oct. 11, 2008 WASHINGTON, Oct 11, 2008 /PRNewswire-USNewswire via COMTEX/ -- ... the American people need to know: the United States government is acting -- and will continue ... for a vital tool that many American businesses use to finance their day-to-day operations -- ...
Interest rates 'will drop to 2.5pc'

The Bank of England and the European Central Bank will lower their benchmark interest rates further than previously anticipated next year, according to economists at BNP Paribas in London.

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.

Subprime lender takes possession of six homes

The High Court allowed lenders to take possession of nine homes and businesses on the first day of the new legal term yesterday.

European officials squabble over response to financial crisis

European officials squabbled over how to respond to the global credit crunch, with Germany opposing a coordinated approach and the Netherlands calling on states to set aside funds to help troubled banks.

Main Street Bank Of Northville, Mich. Fails, 14th Of Year
Main Street Bank Of Northville, Mich. Fails, 14th Of Year
ESRI says 2009 will be even worse

Ireland's recession will be deeper than previously forecast and extend into 2009 as the country's housing market slumps and the global financial crisis worsens, the Economic and Social Research Institute said.

Financial Regulator to investigate Irish Nationwide email

The Financial Regulator is reportedly set to investigate an email circulated by the son of Irish Nationwide boss Michael Fingleton in relation to the Government's bank deposit guarantee.

Boom in safe sales as consumers withdraw savings

SALES of safes have shot up as panicky consumers take money out of banks and seek to stash it in their homes.

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