Morning all. Friday's market reports:
Telegraph
The Times
The Times (Need to know)
FT
The Guardian
The Independent
This is Money
Saturday
US stock markets surged last night on the news that President-elect Barack Obama has picked a new Treasury Secretary to guide the country through the economic crisis.
US shares surge as Geithner named Treasury Secretary
The board of global banking giant Citigroup was under pressure on Friday night to take drastic action to reverse the run on its share price reflecting a major crisis of confidence among investors.
Citigroup considers drastic action
Alistair Darling will use his pre-Budget report to signal future tax rises and a sharp squeeze on public spending in the years after the next general election, The Daily Telegraph has learnt.
Alistair Darling to signal future tax rises to pay for Government's borrowing
The credit ratings agency Fitch downgraded nine UK building societies yesterday, saying falling house prices and the worsening economy were likely to hit profits in the mutual sector. The agency said it was particularly concerned about societies with large exposures to sub-prime mortgages, buy-to-let loans and high loan-to-value (LTV) deals.
Fitch downgrades credit ratings for nine building societies
Sony is planning big price rises in the UK because of the strength of the yen against sterling, in a move that threatens to put extra pressure on Britain's embattled retail sector.
Sony hikes prices as yen value soars
The troubles at E*Trade Financial Corp have worsened and now hinge on whether it can secure U.S. government funds that would bring some relief to its book of bad mortgage loans.
Battered E*Trade banking on government funds
Sunday
Board members at the beleaguered car-maker General Motors are contemplating filing for bankruptcy as the company's financial condition continues to worsen.
Bankruptcy an 'option' for General Motors
Companies can expect to pay up 25 per cent more for credit insurance next year as insurers raise premiums to reflect the increased likelihood of customers going bust.
Businesses face huge increase in the cost of credit insurance
Restructuring specialists are circling Ineos Group, Britain's biggest private company, as the chemicals manufacturer struggles with its 7.3bn (6.1bn) debt burden.
Rescuers rush to Britain's biggest private company
The Bank of England will "lean against the wind" to prevent future bubbles emerging in housing and other assets, its deputy governor has pledged.
Bank will stamp down on future house price booms, says deputy governor
Monday
The US Treasury has announced rescue plans for Citigroup, once America's largest bank, following a weekend of crisis talks to secure the company's future.
US rescues Citigroup
Citigroup was last night in advanced discussions with the US Administration to create a bad bank to house about $50 billion (33.4 billion) of its most risky assets. It would be partially backed by taxpayers money.
Citigroup and US Administration may set up bad bank for risky assets
High street banks could require another 110 billion in taxpayers money to shore up their finances if they are to resume normal lending to consumers and businesses, a leading think-tank says today.
Banks need extra 110bn of public money to start lending again
Barclays has become the first British bank to secure cheap money under a new 24bn European fund to provide small businesses with affordable loans.
Barclays secures European Investment Bank funds
A 2.5 per cent cut in VAT to be announced today as the centrepiece of the Pre-Budget Report will be in place for just over a year, The Times learnt last night.
VAT cut aims to stave off slump and keep the nation shopping
Alistair Darling will announce today that income tax for those earning more than 150,000 a year will rise to 45p in the pound during the next parliament to help pay for Labour's 15bn anti-recession emergency package.
Darling unveils 45p tax on rich to fund recession package
Official acknowledgement of the scale of the UK's slide into recession will be revealed by the Chancellor, Alistair Darling, today. Experts believe that a growth forecast of between zero and minus 1 per cent next year will be delivered, a dramatic downgrade.
Government debt to rise to highest level since war - Business News, Business
High-street banks are continuing to hit businesses with punitive interest rates for loans and overdrafts and are resorting to more severe measures to ensure they are paid.
Businesses hit by huge bank charges