FTSE crashes 5% (AFP)
AFP - The FTSE 100 index lost 5 percent Friday to trade at 3883.36 after preliminary data showed the British economy shrank 0.5 percent in the third quarter.
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Comments Off OPEC slashes production; crude continues to tumble (AP)
AP - OPEC said at an emergency meeting Friday that it will slash oil production by 1.5 million barrels to stem the "dramatic collapse" of oil prices, but crude prices plunged 5 percent anyway as financial markets spiraled downward across the globe.
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Comments Off UK economy officially on the brink of recession (AP)
AP - Britain's economy shrank in the third quarter as the global credit squeeze took its toll, according to figures out Friday, confirming that the country is on the brink of its first recession since 1991. The pound plunged.
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Comments Off Interbank lending rates fall slightly (AP)
AP - Three-month lending rates among banks in the U.S. and Europe are falling but more slowly amid fears over global economic growth.
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Comments Off Ukraine in for tough times amid global crisis (AP)
AP - Construction cranes have stopped swinging and thousands of steel workers face layoffs as Ukraine braces for a severe economic downturn.
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