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This is Money

The European Central Bank has warned that the world economy is still in the grip of a "very serious market correction" and risks repeating the inflation debacle of the early 1970s if global authorities respond by slashing interest rates too soon.
ECBs Trichet calls crisis 'very serious'as troubles reach Europe

Bradford & Bingley's (B&B) shares slumped to a record low amid fresh fears about the mortgage market. Jitters about a potential increase in bad debts also hit other UK banks, including HBOS, owner of Halifax and Bank of Scotland, and Royal Bank of Scotland.
Mortgage debt fears hit banks' shares

Anxiety about Bradford & Bingley's 300m rights issue knocked 16% off the share price yesterday, putting further pressure on chief executive Steven Crawshaw.
Unimpressed investors knock 16% off B&B

Barclays is considering making a daring takeover bid for a rival as part of a move to raise capital from shareholders. Guiding Barclays' decision is understood to be a consideration about whether to try to take advantage of rivals' weakness by launching a large rights issue with a double purpose: to improve its capital ratio and to fund an acquisition.
Barclays considers daring takeover bid in the US or UK

There was more bad news for homebuyers today when one of Britain's biggest mortgage lenders, Cheltenham & Gloucester, pulled its entire home loan range with little notice.
C&G pulls its entire mortgage range

First Direct, the bank that spooked the mortgage market by ceasing all new home lending seven weeks ago, is to reopen its doors. The bank, a subsidiary of HSBC, said yesterday that it had processed a backlog of applications for its mortgages and was ready to begin accepting new business once again.
First Direct re-enters the mortgage market

Citigroup announced plans yesterday to extricate itself completely from new sub-prime lending in Britain, with the loss of up to 700 jobs. The American bank is closing down Future Mortgages, its mortgage operation, and CitiFinancial, its unsecured loans business.
Citigroup shuts UK call centre and 49 branches

The company told staff yesterday that it would close 13 of its 39 branches, cutting about 30pc of its British office-based workforce. Taylor Wimpey has already made 40pc of its US staff redundant since the onset of the housing slump there.
Taylor Wimpey to close a third of its offices as housing slowdown bites

Some of Wall Street's biggest financial institutions are bracing themselves for large fines and legal settlements over the collapsed auction-rate securities market, which is shaping up to be one of the costliest mis-selling scandals of the credit crisis to date.
Mis-selling scandal hits Wall Street as thousands left with unsaleable bonds

Warren Buffett, the world's richest person, yesterday kicked off a four-day, four-city corporate shopping spree in Frankfurt, with family-owned European firms in his sights and, possibly, an unnamed mid-sized British company.
Buffett has $35bn to spend in four-city shopping spree

Japan faces a 50pc chance of recession this year but will emerge from the current credit crisis that is engulfing global markets as one of the few winners among leading economies, according to Takahide Kiuchi, chief economist at Nomura Securities.
Japan to emerge as a winner from credit crisis, Nomura says

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

The Tuesday Press RoundupLondon shares outlook - lower after Wall St pulls back, Asian markets decline

Thomson Financial UK at a glance share guide

Tokyo shares close lower on profit-taking after Nikkei's rapid gains

Australian shares close lower after four-day winning streak, Macquarie plunges

UK smallcap opening - Stonemartin higher on bid approach

UK smallcap opening - Reflec runs back on trading statementTokyo shares close lower on profit-taking after Nikkei's rapid gains - UPDATE

London shares open lower after Wall Street pulls back, Asian markets decline

STOCKWATCH Marks & Spencer top riser on FY profit; Seymour Pierce ups to 'hold'UK smallcap opening - ImmuPharma up on pre-clinical data

STOCKWATCH Icap lower as M&A concerns outweigh forecast-beating FY resultsSTOCKWATCH Yell Group slumps 13 percent as it halves final dividend

UK smallcap opening - Anite lower as bid talks end

One for the "UPS" ........

"UPS" (Added by Master RSI on Tue 20 May 08:39 am)

BRM - Mid 5.2p
Reason - Share price around the cash level on the bank, and is was aproached last month going to 7p more news since on granted exploration permit in Niger, so all those explorations and assets are in for nothing. Signs of Indicators on the turn again

Yesterday@s chart of past performing on low Indicators

BRM

Chart

UK smallcap opening - Enova rises on Navistar supply agreement

UK small caps open lower; Anite down as bid talks terminated

OUTLOOK Experian FY pretax seen up 14 pct; non-core disposals, outlook in focusSTOCKWATCH Astrazeneca gains on Seroquel court hearing news, vague bid talk

London shares open lower after Wall St pulls back, Asian markets decline UPDATE

Metals - Copper edges up as weaker dollar encourages buying

CORRECTION STOCKWATCH AstraZeneca gains on Seroquel court hearing news, bid talk