NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

The dollar fell to a record low against a basket of currencies on Monday, dragging Asian stock markets down and compounding worries about a likely U.S. recession and more write-downs in the global financial sector.
Asian stocks hit as dollar tumbles

The verdict is in. The Fed's emergency rate cuts in January have failed to halt the downward spiral towards a full-blown debt deflation. Much more drastic action will be needed. Yields on two-year US Treasuries plummeted to 1.63pc on Friday in a flight to safety, foretelling financial winter.
The Federal Reserve's rescue has failed

San Francisco is a city on the frontline of the growing US property nightmare.
'Ninja' loans explode on sub-prime frontline

HSBC has started an internal review of its troubled American banking business, which is expected to reveal writedowns today of up to $11 billion (5.5 billion) from defaults on mortgages sold to poor-risk homebuyers.
Pressure grows on HSBC over sub-prime

Hopes that Britain's manufacturers are holding up well in the face of the economic downturn this year will be boosted by figures out today showing that they reported growth in the three months to March.
Confident factories mark three months of growth

The value of your house may be slipping, but your builder will return calls and you may get a good deal on renovations.
Builders feel the pain as credit crisis bites

The Bank of England is facing one of the biggest dilemmas in its history as it meets this week to consider whether to cut rates to shore up Britain's rapidly slowing economy.
Rate cut unlikely as inflation fears rise

Britains financial regulator and its central bank must develop a better plan for warning banks and investors of high risks, after overseeing the loss of billions of pounds in the global credit crisis, a damning report by MPs will recommend today.
Credit crunch rebuke for FSA and Bank of England

The Treasury Select Committee has accused investment bankers of sparking the credit crisis by creating "ludicrously complex financial products which you need a Nobel prize in physics to understand". In its report on financial stability, which will be published today, committee chairman John McFall will warn the entire financial services industry that it faces far stiffer regulation unless it cleans up its act.
MPs lambast financial sector complexity

Ministers will today unveil plans for a pilot scheme to provide free financial advice to British consumers. The move comes in response to a report commissioned by the Treasury from Otto Thoresen, the insurance boss.
Free financial advice plan as debt fears grow

Otto Thoresen wants to help you - to save more, to manage your money better, to avoid the kind of financial disasters that can ruin lives and lead to burdens that take years to lift, if they lift at all. He wants you to have fair and impartial advice on everything from mortgages, insurance products, savings and pensions. And he wants it to cost you nothing.
Financial management may become a free service

Saudi Arabia and other Opec members are expected this week to rebuff calls from Western consumer nations for an increase in oil production to help to avert the threat of a worldwide recession.
Opec to resist the West on oil production

Moves by 'green' nations to cut energy use will prove pointless if oil-producing states maintain production as prices fall.
Why oil rulers wont go green

The right to use water will soon follow in the footsteps of carbon emissions and become a commodity, like the right to pollute, that industry will have to pay for, executives have warned.
Water to be the next commoditised resource

Energy prices could soar and green investment may suffer if the Government pushes ahead with a threat to impose windfall tax on gas and electricity firms, according to a senior industry representative.
Windfall tax will raise energy prices

The announcement by Shadow Chancellor George Osborne that the Conservative Party plans to set up a new "Green Environmental Market" (GEM) for clean technology start-ups left many in the Aim community scratching their heads.
George Osborne warms green debate with GEM

Japan plans to set up an activist sovereign wealth fund, with a 10 billion share portfolio, aimed at keeping Japan Inc honest and shareholder-friendly, The Times has learnt.
Japan plans activist sovereign wealth fund

OUTLOOK Taylor Nelson Sofres seen reporting 5 pct revenue growth in 2007OUTLOOK Paddy Power set for 50 pct increase in FY earningsOUTLOOK Xstrata FY earnings seen overshadowed by Vale bid talkOUTLOOK HSBC FY profit seen 12.4 pct higherAustralian shares close sharply lower on Wall Street lead, US recession woesTFN economic and business calendar to Friday March 14

Good morning traders!

In Asia today, the Nikkei closed down 610.84 points (4.5%) at 12,992.18, while
the Hang Seng ended the morning down 717.17 points at 23,614.5.

New York's main oil contract, light sweet crude for April delivery, held steady at
$101.84, Friday's closing price in New York.

Happy trading!

G.

TFN UK calendar and forecasts for today

OUTLOOK Pearson's US education market under spotlight

Thomson Financial UK at a glance share guide - weekendTokyo shares close sharply lower on yen's rise, Wall Street's slump

London shares outlook - lower, ahead of HSBC FY; rate decision due Thursday

The Monday Press Roundup

BROKERWATCH Danone upped to 'buy' from 'hold' at Citigroup; tgt 62 eur from 60

BROKERWATCH 3i upped to 'buy' from 'neutral' at UBS; target cut to 1,005pThomson Financial UK at a glance share guideTokyo shares close sharply lower on yen's rise, Wall Street's slump - UPDATE

BROKERWATCH Prudential upped to 'neutral' from 'underweight' by JP Morgan

BROKERWATCH HBOS cut to 'peer perform' vs 'outperform' at Bear Stearns

UK smallcap opening - Maypole perks up on move to black; acquisition

*HSBC SEES 'UNCERTAIN' OUTLOOK FOR 2008UK smallcap opening - Gas Turbine Efficiency higher on contract wins; update

London shares open lower after NY drop on Friday, Pearson falls after FYUK smallcap opening - Staffline gains on solid FY results; Altium 'buy'

First Day of Dealings of AIM

BROKERWATCH Carrefour cut to 'sell' from 'hold' at ABN AmroUK smallcap opening - Focus Solutions rises on Home of Choice contract win

UK smallcap opening - British Polythene slides on 'challenging' year ahead

UK smallcap opening - Sepura retreats on FY revenue warning