News

Concerns about the state of the world economy send global stocks tumbling, losing their gains from earlier in the week.

The International Monetary Fund cuts growth forecasts, predicting that developed economies as a whole will shrink 0.3% in 2009.

The European Central Bank lowers interest rates by 0.5% to 3.25% in an attempt to prevent a eurozone-wide recession.

The Bank of England slashes rates by one-and-a-half percentage points in a dramatic bid to stimulate the economy.

The European Central Bank lowers interest rates to 3.25% in an attempt to prevent a eurozone-wide recession.

The Bank of England slashes interest rates by one-and-a-half percentage points in a bid to stimulate the economy.

House prices fell by another 2.2% in October, says the Halifax, pushing the drop in house prices to 13.7% over the past year.

Concerns about the state of the world economy send Asian and European shares sharply down, reversing gains made ahead of the US election.

Japanese car firm Toyota shocks analysts by announcing a 69% fall in quarterly profits and its 2008 profit forecast.

The IMF approves a $16.4bn loan to Ukraine to bolster its economy, which has been shaken by the global financial turmoil.