Morning all. Friday's market reports:
Telegraph
The Times
The Times (Need to know)
The Independent
The Guardian
This is Money
Saturday
Citigroup is facing further financial write-downs after revealing it has an exposure of $4bn (2.03bn) to the troubled bond insurance sector and has been forced to move a $10bn hedge fund on to its balance sheet after significant losses.
Citigroup facing further big write-downs
The credit crunch, triggered last February by a surge in defaults on high-risk, sub-prime mortgages, appeared to have travelled right across the financial system yesterday, as it emerged that the cost of insuring even the most robust corporate bonds had reached a record high.
Credit crunch contagion has bonds cover at record high
Weakening housing markets in Britain, Ireland and Spain will stretch the finances of some mortgage lenders this year, credit ratings agency Fitch warned yesterday. Fitch expects the British housing market to see the recent trend of lower prices continue, though the scale remains hard to predict, it said, adding it did not expect a collapse in UK house prices.
Mortgage lenders at risk of falling into credit-rating trap
China's increasingly aggressive sovereign wealth fund is poised to unleash a $10 billion (5 billion) investment spree in Japan and is initially expected to set its sights on the energy sector.
Big-spending Chinese eye up Japan's energy 'champion' in $10bn drive for investment
State-backed companies, including the biggest steelmaker, Baosteel, are understood to have refused to meet Rio's opening demands for a package that would see some iron ore prices rise by more than 100pc, with knock-on implications for the price of consumer goods and inflation. Japanese steelmakers are thought to be organising a similar response as big iron ore consumers dig in against price rises.
Chinese steelmakers resist Rio Tinto's iron ore price hike
Sunday
ONE of Germanys biggest financial institutions is to sue UBS, the Swiss banking giant, claiming it was mis-sold hundreds of millions of pounds worth of sub-prime securities.
Germans accuse UBS of sub-prime mis-selling
Lloyds TSB is to weigh up potential takeover approaches to Alliance & Leicester and Bradford & Bingley as it scents opportunities to snap up rivals hit by the credit crunch.
Lloyds takes aim at A&L and B&B
The Qatari government is this weekend contemplating making an investment in Royal Bank of Scotland (RBS), Britain's second-largest bank, which would be the latest foray by a foreign government entity into struggling western banking stocks.
Qataris' eye on RBS shares
House prices will decline by 6 per cent in 2008, and continue falling next year, as anxious homeowners rush to cash in their gains from the decade-long property boom, analysts at JP Morgan warned this weekend. Just three months after predicting that prices would remain stagnant for at least a year, Malcolm Barr, JP Morgan's chief UK economist, said the evidence now looked 'pretty bleak'.
House prices will drop 6pc in 2008 - and keep falling
TWO of Britains biggest housebuilders are expected to trigger fresh worries over the state of the housing market this week by confirming that reservation levels at their developments have plunged by more than 20% compared with a year ago.
Top builders Persimmon and Barratt set to reveal market woes
TOP fund managers such as Fidelitys Anthony Bolton and Neil Woodford of Invesco Perpetual champion contrarian investment, but a new study has found that the opposite strategy can make you big money.
Turn a 1 investment into 4.2m
Monday
The Federal Reserve will today continue its unprecedented efforts to prop up the credit markets, in what is set to be one of its most closely watched auctions of new debt.
Fed auction to be watched for signs of credit market distress
Investment banks are secretly profiting from emergency European Central Bank funding by acting as brokers to funnel billions of euros of much needed liquidity to Britain's banks and building societies.
Lloyds accesses European Central Bank funding
Sir Fred Goodwin will this week mount a robust defence of his strategy at Royal Bank of Scotland by unveiling an increase in the company's dividend and an improved cost-savings target from its takeover of ABN Amro.
Bullish RBS to confirm it will increase dividend
Private equity groups and investment banks are turning to mezzanine finance, a forgotten corner of the debt markets, in the wake of the credit crunch with firms raising multi-billion pound funds to back acquisitions.
Mezzanine finance helps beat credit crunch
House prices have fallen in February for the fifth month in a row, deepening the gloom over the property market. The average price of a new property decreased by 0.2 per cent to 174,400, according to Hometrack, the property research group. The annual rate of house price inflation fell to 1.4 per cent, its lowest in nearly two years.
House price fall continues despite small rise in buyers
Britain's largest companies saw their corporation tax bills rise by 18pc last year, far outstripping the increase in profits, a new study has found.
Corporation tax surge 'making UK unattactive'