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Americas central bank has taken drastic steps to resuscitate the US economy out of its year-long recession, placing interest rates as low as zero - their lowest level in history - as it announced widespread plans to inject liquidity into the ailing financial markets.
US interest rates slashed as low as zero
Mervyn King, the governor of the Bank of England, warned yesterday that Britain would flirt with deflation next year as a weakening economy, lower commodity prices and the cut in VAT combined to limit price increases.
Bank governor warns that UK faces deflation in 2009
Unemployment is likely to rise above 3 million in the current recession, the Bank of England's labour market expert, David Blanchflower, warns today.
Warning of 3m jobless in UK as US slashes rates
The energy regulator has demanded commitments from power companies to slash gas and electricity prices. Alistair Buchanan, Ofgem's chief executive, told the big six power companies yesterday that they should announce firm pledges to pass on recent steep falls in wholesale energy prices by February at the latest.
Ofgem tells fuel companies to cut prices
The world's biggest fraud could have been averted if the Securities and Exchange Commission (SEC) had acted on numerous warnings about Bernard Madoff's financial impropriety years ago, the regulator's chairman admitted last night.
Madoff warnings 'ignored for 10 years'
A 95-year-old Boston clothing tycoon, Carl Shapiro, looks set to be the biggest single victim of Bernard Madoff's fund management scam by losing up to $545m (357m) at the hands of the Wall Street fraudster.
95-year-old philanthropist loses $550m in Madoff fraud
It sounds like a practical joke from a fratboy comedy. But the boss of the film producer National Lampoon has been charged with fraud over a crude attempt to fiddle his company's share price.
Film boss on fraud charge