Morning all. Market reports:

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

The American economy faces a painful recession that will be deeper than the downturn at the start of this decade and the most severe since the early Nineties, the International Monetary Fund (IMF) is set to predict next week.
IMF to cut prospects for US growth by two-thirds

Confidence at major Japanese manufacturers fell to its lowest in more than four years as the plunging dollar, soaring fuel prices and fears of a US slowdown weighed on the economy.
Japanese confidence dented by plunging dollar and US fears

As Japanese motorists fought for a place in the great petrol rush they could have been forgiven for thinking it was all a huge April Fool's joke a massive overnight plunge in pump prices despite the soaring global cost of crude oil.
Fuel price plunge fuels Japan's tax crisis

Inflation in the UK's manufacturing sector has risen to its highest since 1995, according to the monthly purchasing managers index, produced by the Chartered Institute for Purchasing and Supply (CIPS).
Inflation climbs to a 13-year high in the British manufacturing sector

Corporate profits reached an all-time high in the final quarter of last year as Britain continued to benefit from the booming world economy. Corporations enjoyed profitability of 15.5% in the last quarter of 2007, up from 15.4% in the third quarter, the Office for National Statistics reported yesterday. The figure for 2007, which does not include banks, was a record 15.2%.
Corporate profits surge in last quarter of boom

UBS led a rally in banking stocks around the world after the Swiss banking giant's $19bn (9.6bn) sub-prime writedown was taken as a sign that the worst of the credit crunch may over.
UBS says it is over the worst of losses

Marcel Ospel, UBSs chairman, once fed as the most brilliant banker in Europe, said that he was quitting as he revealed that losses had more than doubled to $37 billion (18.6 billion)
UBS chairman Marcel Ospel goes as US sub-prime losses hit $37bn

Lehman Brothers long-suffering investors received a boost yesterday as the securities firm raised $4 billion (2 billion) of cash, sending its shares up 8.5 per cent.
Lehman Brothers gets $4bn vote of confidence from Wall Street

First Direct has closed its doors to new mortgage customers after receiving five times the usual volume of applications in recent weeks. The internet and telephone bank, owned by HSBC, said that it was receiving an unprecedented level of business after recent moves by rival banks to pull similar mortgage deals because of the high costs of funding as a result of the credit crunch.
First Direct puts halt to new lending as homes gloom grows

The Swiss government has launched a rearguard defence against foreign pressure for an overhaul of the country's banking laws, which make it a crime for a banker to disclose client details.
Swiss vow to keep banking secrecy laws

American lawmakers told top oil executives on Capitol Hill yesterday the laws of supply and demand were an inadequate excuse for rocketing petrol prices, ballooning profits and for slow progress on investment in renewable fuels.
Oil executives taken to task over soaring pump prices

A U.S.-based company that has controversially laid claim to nearly all of the Arctic Ocean's undersea oil said Thursday that new geological data suggests a "potentially vast" petroleum resource of 400 billion barrels.
Vast oil potential in Arctic, new data says

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

Good morning traders!

In Asia today, the Hang Seng ended the morning up 1,017.29 points (4.4%) at
24,154.75, while the Nikkei was recently up 511.51 points (4%) at 13,167.93.

New York's main oil futures contract, light sweet crude for delivery in May, rose 15
cents to $101.13 per barrel.

Happy trading!

G.

OUTLOOK Woolworths seen slashing dividend despite full-year profit riseOUTLOOK Tate & Lyle on track to meet FY profit expectationsThomson Financial Europe AM at a glance share guide: Stocks rise; oil mixedTFN economic and business calendar

TFN UK calendar and forecasts for today

Australian shares close at 1-month high on financial sector rallyThe Wednesday Press Roundup

London shares outlook - up after big jump on Wall Street; Tate & Lyle update due

Thomson Financial UK at a glance share guideAustralian shares close at 1-month high on financial sector rally - UPDATE

Tokyo shares close sharply higher on Wall Street rally, weaker yen

UK smallcap opening - Redline Communications climbs on Orascom deal

UK smallcap opening - Eckoh adrift as Telephonetics talks terminated

BROKERWATCH AstraZeneca upgraded to 'buy' from 'hold' at CitigroupUK smallcap opening - Conchango surges on agreed EMC Computer bid

Tokyo shares close sharply higher on Wall Street rally, weaker yen - UPDATE

STOCKWATCH Xstrata higher after Citigroup resumes with 'buy', tgt up to 4,500pFTSE opens modestly higherUK smallcap opening - Kiotech firms on swing to FY profits

UK smallcap opening - Works Media lifted as director buys more stock

UK smallcap opening - Portrait Software clipped by revenue shortfall warning

STOCKWATCH Bayer lower on profit warning rumour, co deniesSTOCKWATCH Bayer lower on profit warning rumour, co denies

UK smallcap opening - Black Raven Properties soften after share issue

STOCKWATCH HSBC lower after First Direct suspends new mortgage lending

UK small caps open lower; Portrait Software hit by FY revenue warning