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A for-sale sign was put up over some of Britains best-known stores yesterday after their main shareholder was forced to seek bankruptcy protection. The collapse of the Icelandic retailer Baugur has put thousands of jobs at risk and left in doubt the ownership of House of Fraser, Hamleys, Principles and Iceland supermarkets, among others.
High street on the skids after collapse of Icelandic retailer Baugur

A "sale of the century" is looming as the Icelandic investment empire that bought up swaths of the UK high street in recent years hovers on the verge of collapse.
High-street shake-up on way as Hamleys and House of Fraser investor collapses

The pound's slump is beginning to push up some shop prices, retailers said today. Although most non-food goods were cheaper than last year, the impact of the struggling currency was filtering through to higher import costs and slowing the rate of price falls, the BRC added.
Pound's slump 'pushing up shop prices'

Building societies told MPs yesterday that they could not increase lending because they did not have enough funds to finance loans.
Mutual lenders unable to raise advances

Gordon Brown appeared to acknowledge for the first time today that the world economy was heading for a 1930s-style depression. Mr Brown stumbled slightly over his words at Commons question time, just a week after admitting that Britain was facing a deep recession. As the financial gloom deepens, he told the Tory leader David Cameron today: We should agree, as a world, on a monetary and fiscal stimulus that will take the world out of depression.
Gordon Brown suggests world heading for a 'depression'

UBS has increased its 2009 average gold price forecast to $1,000 an ounce from $700 as investors seek a safe haven from the financial turmoil.
UBS predicts gold to hit $1,000

The Russian economy, already pummelled by falling oil prices, trade disputes with neighbours and fleeing investors, took another step towards the abyss yesterday as the country's credit rating was downgraded. Russia is the first G8 nation to have suffered a downgrade since the start of the global financial crisis.
Now Russia gets caught in the credit crunch

The Baltic Dry index, the benchmark for freight costs for dry bulk commodities such as iron ore, coal and iron, on Wednesday jumped almost 15% to 1,316 points. the biggest daily increase in almost 25 years, on signs of a recovery in the raw materials trade.
Baltic Dry Index jumps 15%

Now, faced with crippling debts as a result of their high living and Dubais fading fortunes, many expatriates are abandoning their cars at the airport and fleeing home rather than risk jail for defaulting on loans. Police have found more than 3,000 cars outside Dubais international airport in recent months. Most of the cars four-wheel drives, saloons and a few Mercedes had keys left in the ignition.
Driven down by debt, Dubai expats give new meaning to long-stay car park

The man who waged a decade-long crusade to unmask Bernard Madoff as a swindler was so frustrated at regulators' refusal to listen that he offered to go in disguise and undercover to help gather evidence.
SEC 'chickens' humbled by Madoff whistleblower

Robert Peston, Lionel Barber, Simon Jenkins and the Mail's Alex Brummer are giving evidence on media reporting of the banking crisis.
Commons select committee questions financial journalists: As it happened

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