Morning all. Market reports:
Telegraph
The Times
The Times (Need to know)
FT
The Guardian
The Independent
This is Money
The recession in the industrialised world will be longer and deeper than forecast so far and could spread to emerging economies such as China and India, both the OECD and the European commission warned yesterday.
Recession will be longer and deeper than previously thought, says OECD
The value of the pound compared to other major currencies has fallen to a 28-year low amid growing fears over the health of the British economy.
Value of pound falls to 28-year low
The biggest US financial institutions reported a sharp increase to $610bn in so-called hard-to-value assets in the third quarter, raising concerns about the hidden dangers on balance sheets.
US problem assets hit $610bn
The US House of Representatives has approved bailout legislation that would force car makers to restructure their businesses or face failure.
US House approves $14 billion auto bailout plan
Troubled American car and mortgage lender GMACs chances of accessing the US Treasurys $700bn bank bail-out fund appear to be slim after it failed to convince enough bondholders to swap their debt for the sake of the companys future.
GMAC's bail-out hopes appear to be slim
The launch of Woolworths' closing sale today will have huge ramifications for the retail sector, Government and local communities in some of the poorest parts of the country.
Price-cutting threatens high street rivals
The tension between the Government and Britain's biggest power companies escalated last night after British Gas, the country's biggest supplier, ruled out any price cuts until the spring, despite steep recent falls in wholesale prices and demands for action as soon as possible from Ed Miliband, the new Energy Secretary.
Government turns up heat over power price cuts
Dow 4000. Food shortages. A bubble in Treasury notes. Fortune spoke to eight of the market's sharpest thinkers and what they had to say about the future is frightening.
8 really, really scary predictions