22 October 2008 Archive

Mervyn says there'll be a recession, Gordon says there'll be a recession - 22/10/2008 19:54:04

Perhaps its time to go back to the Good Life

Mervyn says there'll be a recession, Gordon says there'll be a recession, it looks like there is going to be a recession.

Markets drop on further recession fears

Stock markets fall as recession is admitted by Brown

Markets in Europe and the US fell today as further fears of recession grew after both Gordon Brown and Mervyn King admitted a UK recession was likely.

Brown admits UK facing recession

PM Brown admits UK is likely to hit recession

Gordon Brown today admitted the UK is likely to be heading into recession.

Argos and Homebase profits drop

Home Retail Group has reported a sharp downturn in trading, writing off £542 million on its Homebase chain as pre-tax profits dropped 19 per cent to the end of August.

Sterling drops to five year low

The pound has fallen to a five-year low against the dollar as fears for the UK economy grow.

FTSE 100 drops over 2% on opening

Stock markets fall as recession fears grow

European markets saw falls this morning - with the FTSE 100 falling 2.3 per cent on opening.

King admits recession is coming

The governor of the Bank of England last night admitted a UK recession is now "likely" - the first time he has publicly stated the R word - as he looked to a "long march back to stability".