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Financiers have rounded on the Bank of England for failing to address the liquidity crisis properly despite its pledge to inject short-term cash into the markets, on a day of gathering fears for the state of the global economy which saw the FTSE 100 tumble 106 points. The Bank will provide credit markets with 4.4bn next week if overnight interbank lending rates remain "unusually high". Should the problem persist, it has the option of releasing the funds again in each of the following two weeks.

Bank of England attacked despite 4bn injection into credit markets

A sharp drop in foreign holdings of US Treasury bonds over the last five weeks has raised concerns that China is quietly withdrawing its funds from the United States, leaving the dollar increasingly vulnerable.

Is China quietly dumping US Treasuries?

The west's leading economics thinktank today called for an immediate cut in US interest rates as it warned that the fallout from the housing crisis could trigger a recession in the world's leading economy.

In an update to its half-yearly forecasts for the global economy, the Paris-based Organisation for Economic Cooperation and Development said the Federal Reserve should cut the cost of borrowing by a quarter-point and called on central banks in the Eurozone and Japan to shelve plans for higher rates.

OECD warns of 'ominous' risks to world economy

An $8.8 billion (4.35 billion) investment fund managed by the London-based Cheyne Capital Management was put into receivership yesterday as the short-term credit famine looked set to intensify.

Cheyne fund forced into receivership as additional cash sought

Hedge funds suffered one of their worst performances last month since the collapse of Long Term Capital Management in 1998, data from Hedge Fund Research (HFR) show.

Assets sharply trimmed in fallout from sub-prime mortgage debacle

Moody's, the under-fire credit ratings agency, unleashed a flurry of credit downgrades and negative outlooks on the debt held by highly specialised investment vehicles that are at the centre of the global credit crisis.

Moody's slashes SIV ratings

NIKKEI	AUSTRALIA	SHANGHAI	HANG SENG

OUTLOOK Drax to announce H1 dividend, 22 pct rise in underlying earningsOUTLOOK Aegis to flag Olympic boost for 08 ad marketOUTLOOK Galiform H1 underlying pretax profit seen doublingOUTLOOK Galiform H1 underlying pretax profit seen doublingThomson Financial Europe AM at a glance share guide: Stocks fall, oil higherTFN economic and business calendar

TFN UK calendar and forecasts for today

BROKERWATCH Reuters upgraded to 'overweight' at Lehman, target raised to 770p

London shares outlook - firmer ahead of BoE rate decision and possible statement

BROKERWATCH Aquarius Platinum upped to 'overweight' at Morgan Stanley

BROKERWATCH Anglo American, Rio Tinto upgraded by Sanford Bernstein

BROKERWATCH Premiere initiated as 'buy' in Goldman Sachs satellite TV reviewThomson Financial UK at a glance share guide

Tokyo shares close mixed, Nikkei rebounds on bargain-hunting

Australian shares close lower, BHP Billiton, Rio Tinto up on takeover talk

BROKERWATCH Novartis initiated as 'buy' at UBS, target price 82 sfr

Australian shares close down, BHP Billiton, Rio Tinto up on takeover talk UPDATE

Tokyo shares close mixed, Nikkei rebounds as bargain hunters emerge - UPDATEUK smallcap opening - Zenith Hygiene gains on upbeat update

UK smallcap opening - ReNeuron rises on research update

London shares open firmer, BoE rate decision and possible statement in focus

UK smallcap opening - Smallbone higher on swing to H1 profits; Landsbanki 'buy'

STOCKWATCH Drax Group lower after results fail to impress; Citigroup 'hold'

UK smallcap opening - Plethora Solutions up on positive drug trialUK smallcap opening - Media Corp up on directors' share buying

STOCKWATCH DSG International started as 'outperform' by Bear Stearns