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This is Money
Growing concerns in global markets over how Britain will fund the surge in government borrowing triggered by the recession are piling more pressure on the weak pound.
Sterling hit as funding fears mount over soaring government borrowing
Banks and building societies have quietly increased the costs for new borrowers to profit from sharp reductions in the Bank of England base rate. The average tracker mortgage in October was 6.84 per cent - compared to a base rate of just 4.5 per cent.
Borrowers taking out popular mortgages paying highest rates in seven years
Fresh sources of oil equivalent to the output of four Saudi Arabias will have to be found simply to maintain present levels of supply by 2030, one of the world's leading energy experts has said.
World needs four new Saudi Arabias, warns IEA
Russia's central bank has raised interest rates a full percentage point to 12pc to prevent a collapse of the rouble following a day of mayhem on the Moscow markets, prompting concerns that the financial crisis may be spiralling out of control.
Russia lifts rates to 12pc to save rouble as crisis deepens