US retail sales fall at record rate
US retail sales fell 2.8 per cent in October, as American consumers pulled back on spending at the fastest pace since records began in 1992
November 14, 2008
Eurozone enters first recession
The eurozone fell into its first ever recession even before October’s intensification of the global financial market crisis, official figures have shown, adding to fears that worse economic news is yet to come
Treasury to keep banks at arm’s length
The state’s £37bn stake in part-nationalised banks will be held at arm’s length with no direct boardroom representation, say those charged with managing the investments
Wall Street skids on economic slump, Intel falls (Reuters)
Stocks sank on Wednesday for the third day after the United States backed away from using its $700 billion bailout to mop up sour mortgages and added to uncertainty about how the government plans to revive bank lending.