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The pound plunged yesterday, with its overall value tumbling to its lowest for 13 years, as another spate of dire economic news left markets convinced that the Bank of England will order a further, drastic cut in interest rates today.
Sterling tumbles to 13-year low as economys woes raise prospect of historic rate cut
Bank of America has warned that investors may start to shun the bonds of highly indebted European states as governments are forced to cover surging deficits and bank bail-outs with unprecedented borrowing next year.
Bank of America warns on Europe's surging debt
The US government is planning a major assault on the root cause of the current financial crisis, aiming to stem the fall in house prices by working to lower mortgage rates across the board.
US government tackles mortgage rates
China has begun to devalue the yuan for the first time in over a decade, raising fears that it will set off a 1930s-style race to the bottom and tip the global economy into an even deeper slump.
1930s beggar-thy-neighbour fears as China devalues
Russian oil company Sibir Energy has unveiled a $340m (230m) plan to buy hotels and distressed land projects off one of its key shareholders in a move described by some in the investment community as a "first-class scandal".
Russian oil giant Sibir's property deal dubbed a 'first-class scandal'