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This is Money
Poor data on consumer spending, confidence, car sales and property has thrown a pall over the Thanksgiving holiday.
Torrent of gloomy news gives US little to be thankful for
The oil price rose yesterday on the strength of the Chinese interest rate cut, Europe's economic stimulus plan and the potential of yet another cut in supply in the near future.
Opec to consider further supply cuts as oil price rises again
The collapse of Woolworths could spark a bitter "high street price war" as the retailer's administrator slashes prices in an attempt to extract cash from the business and avoid being left with piles of unsold stock.
Woolies collapse to provoke price war
Britain's banks will need to raise more capital if the economy shrinks at the same dramatic pace as in the early 1980s, UBS's respected senior economist George Magnus has warned, raising the spectre of nationalisation.
Banks face nationalisation if recession is as bad as early 1980s
Direct Whitehall control over the lending rates of Britain's high-street banks is among the contingency plans being drawn up by Alistair Darling to ensure that the dearth of lending caused by the credit crunch does not force thousands of small businesses to go bust
Ministers could set loan rates, banks warned
Apacs, the credit card industry group, said lenders would suspend interest for troubled borrowers for 30 days to give them time to arrange a repayment plan through a non-profit debt agency. The measure is intended to avoid putting further pressure on customers' finances after they have admitted they are in financial difficulty.
Credit-card lenders ease pressure on borrowers
Lehman Brothers built up a huge balance sheet exposure to Asian property in the form of loans and investments worth billions of dollars, KPMG, the liquidator of the Hong Kong subsidiaries of the collapsed bank, has revealed. The book value of Lehmans property exposure in Thailand alone is $1bn, while the banks HK units racked up a further $1bn exposure with about 100 loans or direct real estate investments across the region. The subsidiaries also made inter-company transfers worth $5bn to the banks Japanese arm.
Lehmans Asia risk revealed
The current economic climate could increase some people's chance of suffering a stroke, a conference will hear. And watching coverage of the credit crisis on the evening news can add to the risk of suffering real mental and physical health problems, including stroke and suicide, a leading psychologist will tell the Chartered Institute of Personnel and Development meeting.
Economic climate 'can increase the risk of a stroke'