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This is Money
A bigger proportion of non-investment grade companies will go bust in the US and overseas in the coming years than during the Great Depression, according to Moody's, one of the world's foremost experts on credit.
Moody's predicts default rate will exceed peaks hit in Great Depression
A group of multilateral lenders are preparing a loan package of up to 24.5bn to help central and eastern Europes battered banking systems weather the financial crisis.
European banks to receive 24.5bn loan
Expectations are growing China could super-size its stimulus package when it votes on the budget next week, especially since the draft currently being considered already foresees a record-breaking fiscal deficit for the country in 2009 of some 950bn yuan (higher than previously expected).
China: Can I supersize my stimulus?
The list of problem US banks grew by almost 50% in the fourth quarter, the Federal Deposit Insurance Corporation said on Thursday, fanning fears that further bank failures could put the agencys deposit insurance fund under severe pressure.
US bank failures pressure FDIC
President Barack Obama on Thursday unveiled the most expansive blueprint for federal government involvement in the US economy in more than a generation in a 10-year budget outline that showed this years deficit quadrupling to $1,750bn.
Obama forecasts $1,750bn deficit
The fall in property prices has wiped out five years worth of gains, with the 147,746 average now close to what it was in April 2004. Prices dropped a further 1.8 per cent this month, according to a survey that was released yesterday by the Nationwide Building Society, bringing the annual decline to a record 17.6 per cent.
Its back to 2004, as the housing market collapse cancels out five years of growth