Morning all. Market reports:

Telegraph
The Times
The Times (Need to know)
The Independent
The Guardian
This is Money

Panic swept the credit markets on reports of an insolvency crunch at both the US investment bank Bear Stearns and the mortgage giant Fannie Mae, triggering a dramatic surge in default insurance and rumours of yet another emergency rate cut by the US Federal Reserve.
Market panic after Bear Stearns reports

Lehman Brothers has begun this week to dismiss 5 per cent of its workforce as the deepening credit crisis eats away at investment banking revenues and the sector prepares for a recession.
Lehman Brothers starts to shed 5 per cent of workforce

The crisis in Carlyle Capital Corporation, the Dutch affiliate of the American buyout giant Carlyle, increased yesterday after the fund said it was in emergency talks to prevent the unwinding of $16 billion (8 billion) of assets.
CCC crisis as lenders demand repayment

Buyout firm goes $170 million in the red, warns credit crisis will worsen, and gives its executives elevenfold pay rise.
Pay rises as Blackstone predicts gloom

Europes economic leaders sounded renewed warnings yesterday over the euros relentless rise against the embattled dollar, in the latest sign of mounting eurozone anxiety over the single currencys sky-high valuation.
Joaquin Almunia calls for concerted action to halt collapse of US

Jean-Claude Trichet, president of the European Central Bank, said yesterday that central bankers remained on alert as inter-bank lending rates climbed outside the US.
ECB 'on alert' over interbank rates

Hopes that the Bank of England may soon deliver further interest rate cuts receded yesterday as figures suggested that the economy has yet to slow drastically, while inflationary pressures persist.
Early rate cuts unlikely as sales growth holds up and prices rise

The housing market is in a worse position than at any time since 1990 - the start of the last housing crash, according to a survey of estate agents and surveyors. Potential buyers are reluctant to view homes and there is a growing number of properties on the market, forcing sellers to cut their prices.
Homes market worst since 1990

Alistair Darling is to curb energy companies' profiteering from the poor and elderly through pre-payment meters. The Chancellor plans to use reserve powers to cap tariffs on meters which have allowed utilities to make profits of up to 400 million a year from their poorest customers.
Energy companies' profiteering to be curbed

The Irish banking system faces acute strains and may require a phase of temporary nationalisation as the property slump leads to a wave of defaults, according to a leading Irish economist.
Irish banks may need life-support as property prices crash

China's Bank of Communications may follow other large Chinese financial institutions by buying a stake in a western lender.
China's BoCom looks west

Gov. Eliot Spitzer, who gained national prominence relentlessly pursuing Wall Street wrongdoing, has been caught on a federal wiretap arranging to meet with a high-priced prostitute at a Washington hotel last month, according to a law enforcement official and a person briefed on the investigation.
Scandal-hit NY governor 'sorry'

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

Good morning traders!

In Asia today, the Nikkei ended up 126.15 points at 12,658.28, while the Hang
Seng closed the morning session down 301.7 points at 22,403.35.

New York's main oil contract, light sweet crude for April delivery fell 25 cents to
$107.65 a barrel from its record finish of $107.90 in US trading hours Monday.

Happy trading!

G.

*FRIENDS PROVIDENT SAYS OUTLOOK FOR INTERNATIONAL LIFE, PENSIONS OPS STRONGThomson Financial UK at a glance share guideTokyo shares close higher on bargain-hunting - UPDATEThe Tuesday Press RoundupLondon shares outlook - flat; Antofagasta, Friends Provident in focus

BROKERWATCH European miners downgraded in HSBC sector review after rally

BROKERWATCH European food retailer sector cut to 'cautious' at Morgan Stanley

BROKERWATCH Swisscom downgraded to 'underweight' from 'neutral' by JP Morgan

UK smallcap opening - Paros dips as only trading unit sold for nominal sum

UK smallcap opening - China Shoto up on upbeat update; Seymour Pierce 'buy'FTSE opens session modestly higher

London shares open higher as recovery in Asia helps offset Dow losses

UK smallcap opening - OCZ Technology climbs on solid H2 numbers

UK smallcap opening - Vision Media lifted by Clear Channel agreement

STOCKWATCH ARM Holdings, CSR hit by read-across from Texas Instruments warning

UK smallcap opening - Motive TV edges up on new programme ordersUK smallcap opening - Litho Suplies clipped as FY results slump

STOCKWATCH Friends Provident up as bid hopes overshadow disappointing FY results

One for the "UPS" (Added by Master RSI on Tue 11 Mar 09:31 am)

JRVS - Mid 16.375p
Reason - Yet again yesterday Investeringsselskabet ups therir stake on the company. Company has recently booked a tax refund 6.50M , Broker Brewin-Dolphin said BUY last month, Company repited "It expects to record its best full-year result since 2003"

STOCKWATCH Antofagasta up on mixed FY; brokers generally cautious on outlookUK small caps open sharply lower; Paros hit as trading arm sold for nominal sum

BROKERWATCH Marks & Spencer, Next price targets, forecasts cut by Deutsche BankSTOCKWATCH Cadbury Schweppes up as demerger set for May 7; Evolution upgradesMetals - Gold edges higher on continued dollar weakness

Metals - Copper rises in bargain hunting, large stock-fall

WALL STREET OUTLOOK Rebound seen on gains in overseas markets; TI in focus