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US stock markets stabilised and the FTSE 100 closed almost 3pc higher as investors digested the Federal Reserve's emergency cut in interest rates.
US stocks stabilise after Fed cut
Fears that Americas bond insurance market could implode triggered the US Federal Reserves biggest interest rate cut for more than a quarter of a century, Wall Street economists claimed yesterday.
Fed rate cut triggered by fear of bond insurance collapse
The threat of a United States recession has caused the first fall in global chief executives' collective confidence for five years, according to an authoritative new report.
US recession fears hit CEO confidence
Cutting the interest rate was the Federal Reserve's biggest card in the fight against the slump in stocks, leaving it - some say - with nowhere to go.
Ben Bernanke plays his ace - now what?
America's central bank has taken unprecedented action to stave off a global recession by making the biggest single cut in interest rates in 23 years. The Fed's surprise move intensified the pressure on the Bank for a cut when it meets next month.
Fed's panic rate cut ups pressure on BoE
The Bank of England sounded a stark warning last night that the economy faced its most testing period for a decade and that the persistent danger of inflation left it boxed-in over potential action to stave off a severe downturn.
My hands are tied, says Bank Governor Mervyn King, as he braces UK for downturn
Hundreds of thousands of retail investors locked into commercial property funds are set for six months of further pain as prices of shops and offices continue to slide, but the market is expected to start to bottom out in the second half of this year.
Commercial property fund investors face continued slide in asset prices
Britain's manufacturers have managed to bring in more orders over January but they are gloomy about the prospects for coming months, according to the latest CBI survey of the sector.
UK industry holds up against global slowdown
As stocks in Japan plunged more than 5.5pc and the Nikkei had its largest single-day loss since the 2001 attacks on the US, traders in the world's second largest economy were "in a panic" and the government was stuck.
Tokyo panics as Nikkei falls below 13,000
Just three months ago, the 100m students, pensioners and small businessmen who buy shares in China thought everything was on their side.
Shanghai suffers biggest two-day loss
It was Bedlam outside Jeejebhoy Towers, India's stock exchange in the financial capital, Mumbai, as thousands of sweating and enraged investors crowded outside, shouting slogans against federal finance minister, P Chidambaram. They tried demolishing an ornate bull's statue outside, but were dispersed by police.
Indian bloodbath as Sensex plunges