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Credit Crunch

IMF: Credit crunch losses to hit $1trn

Global financial markets "continue to be fragile, and indicators of systemic risk remain elevated", according to the IMF's latest Global Financial Stability Report.

Inside Credit Crunch

Sellers face a double whammy of falling prices and a bigger cut for the estate agent

House prices plunge again – as estate agents raise their fees

Monday, 28 July 2008

Many of Britain's biggest estate agents are raising their prices in a desperate bid to increase their earnings from the ever-dwindling number of homes they are now able to sell.

Bank profits to fall by half as Britain's big seven feel the pain

Monday, 28 July 2008

British banks' profits are predicted to more than halve in the interim reporting season that starts on Wednesday as credit-crunch writedowns and rising bad debts take a toll on the record profits reported a year earlier.

Gloom deepens in the banking sector as HBOS profits plunge 60 per cent

Sunday, 27 July 2008

With bid speculation intensifying after its failed rights issue, the high street mortgage lender is among a raft of banks reporting this week

Economic View: Our best chance of staying out of recession may be to back the Treasury against the Bank

Sunday, 27 July 2008

Housing crashes are always worse than expected. A mood in which people believe that property prices only ever go up is usually a reliable leading indicator of a crash. The psychological factor in housing booms (and busts) is too little noticed, presumably because it is difficult to pin any kind of numbers on a zeitgeist. Still, it matters greatly.

The banker the credit crisis couldn't touch

Sunday, 27 July 2008

Emilio Botin has made Spain's Santander a global player, acquiring Abbey and Alliance & Leicester on the way. But his strategy for growth does not involve being reckless, writes Elizabeth Nash in Madrid

Economy heads for recession as growth slumps

Friday, 25 July 2008

After years of boom, official figures on the economy published today will show that growth has slumped to nearly zero, leaving the nation already in, or close to, recession.

Consumer spending suffers biggest slump

Thursday, 24 July 2008

Official figures showed retail sales last month suffered their biggest slump for more than 20 years.

Mortgage approvals plunge by 66% in a year

Thursday, 24 July 2008

Would-be home buyers, businesses desperate for investment funds and bankers facing the possibility of ruin received unwelcome news yesterday from the Bank of England.

Fall in demand sends oil price sinking to $127

Thursday, 24 July 2008

Oil prices hit a new six-week low yesterday, sinking under $127 a barrel on slowing demand in the US and Europe in the wake of soaring prices and weaker economic growth. The fall was strengthened as fears receded that oil rigs in the Gulf of Mexico would be hit by Hurricane Dolly.

UK economy flirts with recession

Monday, 21 July 2008

The economic slowdown is deepening and a slew of indicators published today point to falling confidence, contracting markets and gloomy predictions for recovery.

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Mark Steel: Why do the unions keep handing over money?

Where unions have defied the trend and grown has been where they're seen to be defending the workforce

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