News and Information

Bank expected to cut rates again
The Bank of England is expected to cut interest rates later to their lowest for more than half a century.

Brown unveils mortgage help plan
Many people made redundant will be able to defer part of their mortgage payments for up to two years, Gordon Brown says.

Repossessions 'to reach 75,000'
The number of repossessions will rise sharply to 75,000 next year, the Council of Mortgage Lenders has estimated.

'Strong interest' in Woolworths
There has been "strong interest" from potential buyers of Woolworths' 815 UK stores, the administrator says.

Oil falls on poor economic data
Oil prices fall after a barrage of bad economic data heightens fears of protracted global recession and declining demand.

Lloyds to pass on any rate change
Lloyds TSB will pass on any cut in interest rates on Thursday to all existing customers with variable and tracker mortgages.

M&S to hold second one-day sale
Marks and Spencer is to hold a second one-day, 20%-off sale on Thursday, as it aims to tempt hard-pressed shoppers.

Fears grow for US service sector
A measure of the US service sector dropped to a record low in November, showing further weakness in the sector.

'Fairer' treatment for depositors
Bank users are promised fairer treatment in the new Banking Act, which has been outlined in the Queen's Speech.

DFS advert banned for inflated sofas
An advertisement for DFS is banned by the Advertising Standards Authority because the sofas in it are misleadingly large.

Premium Bond holders see number of prizes slashed
Interest rate cuts by the Bank of England have led to a rapid decline in the number of Premium Bond prizes awarded.

Robert Peston
How much is the taxpayer now guaranteeing?

Crossrail delay?
The cross-London rail plan may face funding issues

Who cares?
Unemployment is back. Did we forget about the jobless?

Water shortage
Ghanaians struggle daily to get hold of regular supplies

Boom to bust
Latvia's once rampant economy seeks economic aid

Market fears
Looming recession scares investors away from shares

Richardson gets US commerce nod
US President-elect Barack Obama names New Mexico Governor Bill Richardson to be his commerce secretary.

Mood darkens in UK service sector
Britain's services sector contracted in November at the fastest rate since at least 1996, a closely-watched survey shows.

Credit data firm to cut 300 posts
Credit information company Experian plans to cut 300 jobs in the UK and Ireland next year.

Merging banks to help small firms
Lloyds TSB and HBOS, which are in the process of merging, both announce support packages for small businesses.

German car downturn 'worst ever'
The downturn in the German car market is "at a pace and magnitude that has never happened before", the country's main autos trade body warns.

UK job market weakening rapidly
The UK job market weakens as permanent placements decline at record levels, a new survey suggests.

Eurozone retail sales slump 2.1%
Retail sales across the 15 nations that share the euro fell more than expected in October, increasing the chance of an interest rate cut.

US bail-out 'lacks oversight'
The US $700bn bail-out plan is being implemented without adequate safeguards, a Congressional watchdog says.

Final machine made at JCB factory
The final machine rolls off the production line at a JCB factory in Staffordshire, after almost 140 years at the site.

Cautious outlook hits Stagecoach
Shares in bus and rail group Stagecoach fall 20%, despite it reporting strong half-yearly financial results.

Telecom Italia to axe more jobs
Telecom Italia, burdened with a 37bn-euro debt, plans to cut an extra 4,000 jobs and sell non-core assets worth 3bn euros.

Lenders' mortgage rationing claim
Mortgage rationing is set to become more severe in 2009 without government action, a lenders' group warns.

Large cut in Thai interest rates
Thailand's central bank cuts interest rates by the biggest amount in eight years, as it aims to lift an economy hit by unrest.

Infineon posts another large loss
German chipmaker reports a seventh straight quarterly net loss because of falling chip prices and weakening demand.

Banks plan for overdraft refunds
RBS NatWest is planning to refund overdraft fees to customers if it loses the test case over bank charges.

Big-ticket items see cut in VAT
Shoppers are likely to get the benefit of lower VAT rates when buying big-ticket items, BBC research suggests.

RBS offers to delay repossessions
The Royal Bank of Scotland will allow defaulting customers six months' grace before taking any legal action against them.

Mortgage approvals still falling
Mortgage approvals drop again in October, official figures show, suggesting that house sales and prices have further to fall.

US economy 'weaker in all areas'
The Federal Reserve's Beige Book paints a bleak picture of the US economy, with economic activity weakening across the country.

Producer prices fall in eurozone
Eurozone producer prices fell 0.8% during October, raising hopes for an interest rate cut by the European Central Bank (ECB).

Sterling rebounds from sharp fall
The pound claws back against the US dollar after suffering the largest percentage drop since 1992 on Monday.

Asian markets fall on new worries
Asian stocks dropped on Tuesday, following the global trend amid worries about deepening worldwide recession.

Zavvi suspends online DVD sales
Retailer Zavvi and WH Smith suspend some online music sales after being affected by the failure of Woolworths.

US carmakers publish rescue plans
Struggling US carmakers General Motors, Ford and Chrysler ask the government for help worth a total of $34bn.

Sales growth slows down at Tesco
Growth in UK sales, excluding new stores and petrol sales, slows down to 2% as Tesco pays the price for its discount brands.

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