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Government to part nationalise banking system

The government is to announce a plan to inject £50 billion into individual banks, effectively part-nationalising the UK banking system.

FTSE rebounds but bailout fears still stalk market

The FTSE 100 has closed slightly up after a volatile day of trading on markets across the world.

Icesave expected to fail

Icesave is now expected to go into insolvency in Iceland, triggering compensation claims from 300,000 British savers.

Alliance & Leicester fined �7m

Alliance & Leicester has been fined a record £7 million for payment protection insurance (PPI) failings.

Recession: It's already here

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.

Icesave faces online run as Icelandic owner is nationalised

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

Clegg calls for revolution in bank regulation

Liberal Democrat leader Nick Clegg has called for a revolution in bank regulation, saying the relationship between banks and government will never the same again.

Barclays confident of growth

Barclays is confident it can continue to grow through the credit crunch and predicts there will be more opportunities to grow.

UK �50 billion bank bailout plan

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

Hirst sale points to peak of art market

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

eBay to cut 1,000 jobs

eBay, the online auction website, has announced it is to lay off 1,000 employees, or ten per cent of its workforce, as part of a move to streamline the business.

FTSE in 'Black Monday' slide as market turmoil spreads

The FTSE 100 has joined markets across the world by recording its biggest one day fall since "Black Monday" 21 years ago.

Iceland guarantees all bank deposits

The Icelandic government has guaranteed all bank deposits after trading in financial stocks were suspended earlier today.

Pizza Hut changes to Pasta Hut

Pizza Hut has changed its name to Pasta Hut in an attempt to update its image in the UK and attract more customers.

BNP Paribas buys Fortis assets

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.