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   Web Issue 3275 October 10 2008   
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World markets in freefall as fears of global recession fuel panic
The freefall in world markets continued today as Wall Street opened with more heavy losses. continued...
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HEADLINE NEWS
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FTSE slumps as panic spreads across global markets
The FTSE 100 Index slumped by as much as 10% today as global recession fears rocked world markets.
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President Bush promises to solve financial crisis
President Bush made a public appeal for trust that the US could cut through the "uncertainty and fear" of the the financial crisis today.
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Financial crisis: when will the economic turmoil end?
The plummeting FTSE 100 Index has spread panic throughout the worldwide financial markets.
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Council leaders demand talks over cost of free school meals
Council leaders today called for funding talks with the Scottish Government amid concerns over the cost of providing free school meals.
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Treasury officials hold emergency talks in Iceland
Treasury officials were today in Iceland for urgent talks after the collapse of the country's banking sector left councils and charities in Britain facing losses of up to £1 billion.
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Banks remain paralysed by fear despite rescue package
Banks remained paralysed by fear today despite this week's efforts to unjam money markets.
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Westminster rejects call for Holyrood to run elections
Calls for Westminster to hand over power for the Scottish Parliament elections to Holyrood have been rejected by the new Scottish Secretary.
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Over-expansion of secure units for children could mean closures
An expansion of the number of places in secure units for children has led to an overcapacity that is now threatening the viability of units, the Scottish Government has revealed.
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MAIN BUSINESS
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Interbank loan costs up despite rate cut
Interbank lending rates for three-month sterling continued to climb yesterday – in spite of Wednesday’s emergency half-point cut in UK base rates and Chancellor Alistair Darling's pledge of hundreds of billions of pounds.
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US stocks driven below 9000 by recession spectre
Mounting fears of global recession sent New York's Dow Jones Industrial Average plunging through the 9000-point mark last night.
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Weir buoyed by rising greenback
Weir Group shares soared 8.3% yesterday to regain some of the ground they lost during the summer after the company upgraded its profit forecast thanks in part to a rising dollar.
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Interest rates at 4% by year-end
Benchmark UK interest rates are now predicted by economists to fall by a further half-point to 4% by the year-end, with a slim majority of forecasters expecting this cut will be delivered in one big move.
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Alliance Trust wins backing of leading analysts
Much-criticised Dundee-based Alliance Trust was yesterday added to the “buy” lists of two influential analysts as they backed its cautious approach and the strategy of new chief executive Katherine Garrett-Cox.
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Pension lifeboat levy to be fairer, NAPF is told
The annual levy on business to fund the pensions lifeboat will become fairer, the Pension Protection Fund (PPF) said yesterday.
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PLUNGE: The FTSE 100 Index slumped by as much as 10% today as global recession fears rocked world markets
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MAIN SPORT
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Forgotten man plots return
Maurice Ross made the front pages of the Norwegian tabloids yesterday. This was no sex scandal, no case of having his car vandalised, no brush with the law. He simply expressed the belief that Scotland would beat Norway.
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Murray tells Ibrox fans to pull together
Sir David Murray has urged Rangers supporters to pull together in their fight against sectarianism.
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Now is not a time for novices
He would surely baulk at the term veteran, but Craig Gordon's extensive experience has given him an air of seniority within the current Scotland squad.
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Euro agony fuels common goal, says Brown
Scott Brown knows from bitter personal experience that you can learn more from failure than success. The disappointment of losing to Italy last November, and missing out on the summer’s European Championships, still rankles.
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VIDEO: World Acrobatic Gymnastics championships in Glasgow
The World Acrobatic Gymnastics championships are underway in Glasgow.
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Beware of big, bad John, says Berg
Henning Berg once tried to persuade his countryman, John Carew, to choose the glaur of Glasgow ahead of the glitz of Rome. He failed.
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Heskey labels Croatia’s fine ‘inadequate’
Emile Heskey has branded as inadequate the fine handed out to the Croatian FA after he was subjected to monkey chants from fans during England’s World Cup qualifier in Zagreb last month.
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Cup is pinnacle of sport
No fewer than 415 international players, most of them drawn from the leading nations, are included in the squads of the 24 teams contesting the Heineken Cup which gets under way today.
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Davis looks for win to add to good times
Life is sweet for Steven Davis as Northern Ireland prepare to face Slovenia in Maribor tomorrow.
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Vokes relishing chance to learn from Bellamy
Sam Vokes, Wales' teenage striker, cannot wait for the opportunity to prove himself alongside Craig Bellamy on World Cup duty.
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