In the UK, a full-blown recession is now unfolding: export growth set to collapse, credit crisis to hit investment, but consumption benefiting from lower oil prices.

The auto industry is showing the first deep scars of a recession from UK to Japan and all around the world. New car sales in the UK dropped by 23% in October, the highest in 17 years according to the SMMT.

Woolworth’s was about to celebrate its 100th birthday this year, but instead of appointing party organizers to celebrate its century long history of success it had to appoint administrators after a vain last minute attempt to sell stores to raise cash.

Now, the day has come that other troubled companies also saw reason and ask to be baptised bank holding company.

Morgan Stanley, the once-upon-a-time investment bank has recently been converted into a bank holding company to avoid bankruptcy.

Ford Motor Co., General Motors Corp., and Chrysler LLC are all queuing up for cash as sales demand has dropped to record lows amid the global recession.

Forex or Foreign Exchange Trading is an investment activity that has been around for a very long time. It is a worldwide market well known for its long trading hours.

Merrill Lynch Co. only recently eliminated more than 5,000 jobs that accounted for almost 8 percent of its total workforce.

General Motors shares soared by 33% on Monday, 13th October on reports stating that the worlds largest automaker is looking for a merger partner.

The three-month dollar LIBOR fell 5 basis points to 4.5 percent today versus 4.55 percent yesterday, according to the British Banker’s Association.

Iceland’s stock market index (OMX Iceland 15 Index) has hit rock bottom, losing 77.22% of its value in a single day. Iceland’s benchmark index last value was standing at 3004.62, when regulators decided to halt trading