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This is Money
The price of oil jumped by more than $6 a barrel yesterday, as a sliding dollar and anxiety about a new cold war between Russia and the west prompted investors to buy commodities.
Oil prices rise as commodity investors fear renewed cold war
Half the world economy, including the UK, is in recession or on the brink, according to research from Goldman Sachs. The investment bank has warned that the world's major economies, including the US, Japan, the eurozone and the UK, are "either in recession or face significant recession in the months ahead".
Recession fear for half the globe, says Goldman Sachs
Investors have pulled funds out of Russia at the fastest rate since the country's 1998 debt crisis, in the wake of the conflict with Georgia, official figures have shown.
Russia investors flee after conflict
Lehman Brothers, the Wall Street investment bank, is ripe for a hostile takeover, a New York banking analyst has told clients. Richard Bove, from the respected investment bank Ladenburg Thalmann, has told clients that he believes Lehmans management is unwilling to sell out at a deeply distressed value. The stage is set for a hostile bid to take over the whole company, he said
Lehman Brothers may face hostile takeover bid, says analyst
Singapore sovereign wealth fund Temasek gave hope to struggling Western banks by saying it could increase its holdings in Merrill Lynch and others.
Eastern promise for Western banks as Temasek looks to invest further
A top caste of Nobel Prize economists has warned that the world's financial system may not start to recover for at least another year, leaving banks at mounting risk of an insolvency crisis.
Nobel prize winners warn financial system is still not out of the woods
The Financial Services Authority has told investment banks to improve checks to prevent mis-pricing of trading positions and to stop firing staff who work in valuation control functions.
Stop firing crucial back-office staff, FSA warns banks
The Government's grasp of official statistics has come under scrutiny after it withdrew three years' worth of closely watched housing data and its high street sales figures provoked incredulity and outrage from retailers.
Accuracy of ONS data questioned