US stocks entered the Christmas holiday in subdued mood, posting a modest Santa Claus rally, as investors digested more gloomy data on the economy and, with just four trading days left in 2008, began to take stock of a torrid year
Music, games and DVD retail chain Zavvi goes into administration following the problems at Woolworths.
Retailers are hoping for a last-minute Christmas rush with a number of shops already starting their sales.
A record number of fines has been imposed by the City watchdog this year as it cracked down on mortgage fraud and the mis-selling of payment protection insurance
Some 2,500 people have applied for Christmas relief packages from charities as growing numbers lose their jobs in the wake of Iceland’s banking collapse
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