The government's banking rescue package has been broadly welcomed by unions and banks, although shareholders have expressed concern over the plans.

Consumer confidence fell again in September after two months of stability as turmoil in the financial system hurt sentiment.

The UK fell into recession in May, according to new GDP estimates.

The FTSE 100 ended 16 points higher at 4,605.22 after a volatile day of trading, helped by a calmer Wall Street opening.

Gordon Brown, Alistair Darling and Mervyn King are to meet this evening to discuss the current banking crisis.

Russia has agreed to lend Iceland €4 billion to help the country through the financial crisis.

Pope Benedict XVI yesterday weighed into the financial crisis hitting the world, claiming it showed the futility of money.

Icesave is stopping savers withdrawing cash as the firm is nationalised.

EU finance ministers are to meet today in Luxembourg following a day of confusion and record falls on European stock markets.

The UK government is being pushed to invest £45 billion in the banking sector to shore up confidence, it emerged last night.

After yesterday's unprecedented falls, the FTSE 100 opened higher today and had gained 120 points by 08:25 BST.

After yesterday's unprecedented falls, the FTSE 100 opened higher today and had gained 120 points by 08:25 BST.

Australia's central bank reacted to the global stock market slump with a surprise one per cent cut in the base rate - taking it down to six per cent.

A third of graduates who started university after 1998 are not paying back their student loans yet.

A UK recession has started already and the outlook is getting worse as confidence "collapses", according to research from the British Chambers of Commerce (BCC) for the third quarter.

Damian Hirst's recent £111 million sale of works will mark the peak of the arts market, according to new analysis.

Alistair Darling has told MPs that the government is committed to doing all it can to support UK banks and that the ultimate responsibility rests with him.

The FTSE 100 continued its dramatic slide by lunchtime and was 5.51 per cent lower by 12:00 BST.

The FTSE 100 tumbled over 200 points this morning after a weekend of turmoil in Europe.

BNP Paribas has snapped up Fortis' Belgium and Luxembourg operations for €14.5 billion (£11.2 billion) to make it the eurozone's biggest bank.

UK energy giants have been warned to sort out problems in the gas and electricity markets or face a competition investigation.

Over a weekend of panic, several European governments have moved to shore up their financial systems to prevent a meltdown.

Pressure is growing on the government for an unlimited savings guarantee to be introduced as economic turmoil swirls across Europe.

The FTSE 100 tumbled over 200 points this morning after a weekend of turmoil in Europe.

Less than 100,000 new homes will be built next year, half the amount needed to meet government targets.

German chancellor Angela Merkel has announced the German government will guarantee all private savings accounts, as the country's second largest mortgage lender struggles for survival.

Germany's second-largest mortgage lender, Hypo Real Estate, is on the brink of collapse after a bail-out deal to rescue it fell apart.

Europe's four largest economies will work together to support financial institutions - but without forming a joint bail-out fund their leaders have said.

President Bush has signed the economic bailout bill just hours after it was passed by the US congress but warned the country's economy continues to face "serious challenges".

Gordon Brown is among European Union leaders meeting in Paris today to discuss the current turmoil in the financial markets.