Morning all. Market reports:
Telegraph
The Times
The Times (Need to know)
FT
The Guardian
The Independent
This is Money
Paul Volcker, the former chairman of the US Federal Reserve, has warned that the economic slump has begun to metastasise after a shocking collapse in output over the past two months, threatening to overwhelm the incoming Obama administration as it struggles to restore confidence.
Volcker issues dire warning on slump
Sterling could drop to $1.28, its lowest level since 1985, and to 92p per euro in early 2009, according to Paul Meggyesi, a currency strategist at JP Morgan.
Pound could shrink to $1.28, currency expert warns
The bosses of America's big three carmakers will appear before Congress tomorrow to plead the case for a $25bn (17bn) government aid package for the industry.
Big three car firms unlikely to get bail-out
Barclays' board is preparing to issue a "back us or sack us" ultimatum to its rebellious shareholders as part of a package of measures designed to quell their anger over the high cost of the bank's emergency fundraising.
Barclays board says back us or sack us
SVG Capital is in talks to scale back payments to Permira, its parent, as concerns grow that the private equity industry is facing a funding crisis.
SVG Capital eager to ease payments to Permira as clouds gather