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This is Money

Wall Street stocks yesterday plunged nearly 3 per cent for their worst trading day of 2008 as data showed that Americas services sector had shrunk by its fastest rate for seven years.
Henry Paulson says US in difficult transition

The US President George Bush has unveiled a fiscal plan that will see the US federal budget deficit double this year, with larger-than-planned deficits stretching well into his successor's term of office. US government borrowing this year and next will approach the previous all-time record deficit, of $413bn (209bn) in 2004, Mr Bush warned.
US fiscal plan will double federal deficit

Mr Bernanke has come in for some stinging criticism in the past few months. The Wall Street crowd thinks that he has been behind the curve in cutting interest rates. Inflation hawks think that he is to blame for the weak dollar and rising prices.
The future may be bleak for Ben Bernanke

House prices remained flat across the nation in January as the market continues to show signs of weakness, according to the latest monthly report from Halifax.
House prices flat as City awaits rate decision

For City economists there are few moments more nerve-wracking than noon on a Bank of England interest rate decision day. As the minutes tick away towards midday tomorrow, the 60 or so professionals whose job it is to monitor the UK economy will steel themselves for the moment of judgement.
Day the credibility of experts rises and falls with the rates

BHP Billiton has launched an all-out hostile bid for its Rio Tinto, hiking its offer price from 3 shares to 1 to 3.4 to 1.
BHP Billiton launches hostile bid for Rio Tinto

BHP Billiton, the worlds largest mining company, raised its bid for Rio Tinto to more than 70 billion late last night as it emerged that Rios new Chinese shareholder was already preparing to counterbid.
Chinese ready to counterbid for Rio after BHP raises offer

The junior French trader responsible for bringing his bank to its knees when he bet 5 billion (3.7 billion) on a falling stock market broke his silence yesterday to claim that he had got a little carried away as he lost touch with financial reality.
French trader Jerome Kerviel says he 'got carried away' but won't be a scapegoat

NIKKEI	AUSTRALIA	SHANGHAI	HANG SENG

OUTLOOK Daily Mail trading update seen cautious amid economic uncertaintyOUTLOOK BSkyB profit down in H1; operational performance in focusOUTLOOK Aviva full-year sales seen 19 pct higherSTOCKWATCH Chalco tumbles in HK after BHP Billiton sweetens offer for Rio TintoAustralian shares close sharply lower on US recession worries - UPDATETFN economic and business calendarThomson Financial Europe AM at a glance share guide: Stocks, oil slide

TFN UK calendar and forecasts for today

Tokyo shares close sharply lower on US recession fears

The Wednesday Press RoundupLondon shares outlook - lower after sharp declines overseas; BHP, Rio in focus

BROKERWATCH Morrison upped to 'overweight' vs 'equal-weight' at Morgan Stanley

Thomson Financial UK at a glance share guide

BROKERWATCH Johnson Matthey cut to 'hold', Solvay upped to 'hold' at CitigroupTokyo shares close sharply lower on US recession fears - UPDATE

STOCKWATCH BHP Billiton seen pressured on Rio offer, 'disappointing' H1

UK smallcap opening - Minco firms on positive drilling updateUK smallcap opening - Messaging International rises on Bell Canada deal

UK smallcap opening - Angle off as bid talks termination offsets contract win

FOCUS Bayer pitted against rival Boehringer in race for anti-clotting pillUK smallcap opening - Company Health dips as facility extended

BROKERWATCH India's Tech Mahindra raised to 'buy' from 'hold' at Pinc Research

STOCKWATCH Diageo higher on vodka joint venture; Merrill Lynch repeats 'buy'STOCKWATCH BSkyB up as H1 opg decline beats forecasts; Merrill retains 'neutral'London shares open lower after sharp declines overseas; BHP top FTSE 100 faller

UK smallcap opening - Ormonde Mining eases on cost worriesUK smallcap opening - RM down on H1 profits alert

UK smallcap opening - Manpower Software lower on post-interims profit-taking

UK smallcap opening - Alexon rally after Style Menswear sale

UK small caps open lower; Company Health dips on facility extension

STOCKWATCH Aviva lower as UK sales disappoint; Collins Stewart maintains 'buy'

London shares - midmorning features

Metals - Gold firms as safe haven buying interest is buoyed by recession fears

Metals - Base metals decline on recession fears

BROKERWATCH Renovo Group initiated 'buy' at Panmure Gordon, target 193p

STOCKWATCH Iberia off as BA reps opposing Spanair bid seen negative

BROKERWATCH Imperial Tobacco cut to 'reduce' from 'add' at Evolution Securities

Metals - Base metals decline on recession fears UPDATE

STOCKWATCH Danone gains as Exane sees 33 pct upside

STOCKWATCH BSkyB up as H1 opg decline beats forecasts UPDATE

London shares - midday features

BROKERWATCH British Energy target upped and Drax target cut by Goldman SachsUK small caps still down at midday; Company Health down on facility extension

Midday Market Roundup

Precious Metals Summary - London AM Fixings

FOCUS Ofgem reiterates UK energy markets are functioning wellWALL STREET OUTLOOK Seen opening higher; Time Warner, Disney earnings in focus

WALL STREET OUTLOOK Higher open seen; company earnings in focus UPDATE

Metals - Gold heads back towards 900 usd mark on safe-haven buying

Metals - Base metals reverse earlier losses by tracking equities higherLondon shares - midafternoon features

Precious Metals Summary - London PM Fixings

STOCKWATCH Campari up on Diageo's high-priced Ketel One vodka deal

TFN economic and business calendar to Wednesday Feb 20

End-of-day Market Roundup

UK small caps close lower; Company Health slumps on facility extension