October 2008 Archive

Stock market plunges on recession fears

The FTSE 100 dropped five per cent in early trading following overnight falls in the Asian markets and fears of a worldwide recession.

Recession: How bad will it get?

This week both Gordon Brown and Mervyn King, governor of the Bank of England, admitted a UK recession was likely.

FTSE 100 drops 5% as recession fears continue global sell-off

Traders around the world hit the sell button

The FTSE 100 was closed down five per cent today after a index hit lows not seen even in the banking crisis sell-off.

FTSE 100 drops over 8% as recession fears confirmed

Traders press sell button as GDP drop beats expectations

The FTSE 100 dropped some 8.79 per cent this morning as official figures showed the UK economy had contracted faster than expected.

Opec confirms oil production cuts

Oil cartel Opec has decided to cut production by 1.5 million barrels in its extraordinary meeting in Vienna.

FTSE 100 drops 4%

FTSE 100 drops on further recession fears

The FTSE 100 was down 4.06 per cent to 3,924.14 at 8:27 BST - as the markets anticipate poor economic data and followed further Asian losses.

FTSE 100 holds firm under pressure

The FTSE 100 closed up 1.16 per cent today to 4,087.83 on a day marked by further global sell-offs.

Currys and PC World sales drop

Currys and PC World owner DSG International has reported a seven per cent fall in like-for-like sales and warned trading conditions could worsen further.

Credit crisis timeline

The last month has been massive for the financial world, with stock markets around the world rising and falling, banks dropping and rescue plans abounding.

FTSE 100 drops 2% into lunch

The FTSE 100 failed to hold onto its position this morning as global falls of the stock markets and poor UK data brought the index down.

FTSE 100 holds steady in recession headwinds

London holds as markets fall across the world

The FTSE 100 opened with a drop but bounced back to hold its value.

Greenspan sees "credit tsunami"

Alan Greenspan delivers his verdict on the "credit tsunami"

The US economy is experiencing a "credit tsunami, Alan Greenspan has said, before warning it will take "many months" for confidence to be restored.

Zurich launches FTSE-linked savings plan

Zurich has launched a new savings plan which offers investors the potential to earn 42 per cent return on their original investment.

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".