A leading US activist fund manager has said that the global economic slump could be more than half way through.

The UK is loaning Iceland £2.2bn to help pay compensation to British customers of the failed internet bank Icesave.

The chief executive of high street retailer Next said that any tax cuts in the PreBudget Report must be sustainable.

There were renewed calls for gas companies to cut their customer bills last night after the price of oil fell below 50 a barrel for the first time in more than three years.

Women should be appointed to the boards of banks that have bailed out by the Government a new study suggested.

A collapse in companies' tax payments has pushed the Government's finances further into the red with borrowing by the Treasury running at almost double the level of last year.

One in eight pubs could close over the next three years because of competition from the supermarkets and the impending recession a leading beer group has warned.

Jobcentres scheduled for closure will be kept open as the Government prepares for major rises in unemployment.

Russia demands Ukraine to repay a $2.4bn gas debt, raising fears of a renewed dispute which could disrupt supplies to Europe.

This year's Pre-Budget Report will bring some tax-cutting measures: One accountant has the odds on the top 10 predictions

The FTSE 100 dropped as gloomy economic data from the US heightened concern the recession is deepening.

It's very rare indeed for a bastion of Britain's corporate establishment to say sorry about anything - let alone say it in a public meeting. So Sir Tom Mckillop's big sorry to shareholders..

Pension savers are in the dark over what to expect from their annuity when they retire

World stockmarkets falter amid growing concerns that the world economy is entering a protracted downturn.

The Telegraph has teamed up with Wesabe the online financial planning site to help readers get a handle on their finances. Emma Wall logged on to see if she could put her money matters..

Big name stores cut their prices and a third of shops offer discounts of at least 20pc.

Martin Wainwright hears from shoppers in Sheffield taking advantage of big price discounts in the run up to Christmas

Speculating about an early election is fun, but the most interesting question at Westminster this week – this month, this year even? – is whether David Cameron's decision to oppose..

The government says it is "right to increase borrowing" as figures show public debt rose by £1.4bn last month.

Banking: Royal Bank of Scotland chairman Sir Tom McKillop tonight told shareholders and staff he was "profoundly sorry" for the disastrous position in which he has left the business

Markets are spooked by three "Ds".

Formula 1 boss Bernie Ecclestone is facing a multi-billion-pound divorce battle

Hundreds of job losses have been announced as the pain caused by the global economic slump intensified.

Peru hitches its wagon to China's economic motor

Oil prices have fallen below $50 a barrel amid growing fears over a global recession and lower demand for oil.

Harrods has been awarded a Scrooge Award thanks to the small percentage of the price of its charity Christmas cards that goes to good causes.

Sir Tom McKillop, the outgoing chairman of Royal Bank of Scotland, today took personal responsibility for the plight of the Edinburgh-based bank which is now set to be majority owned by the..

A businessman is facing jail after admitting stealing rare pages and plates from books in the British Library

The Home Secretary was criticised for granting a visa to a controversial Jamaican reggae singer, allowing him to perform in London this weekend

Data protection rules are preventing ministers from naming all the Haringey social services staff in the Baby P case, Children’s Secretary Ed Balls revealed

Britain has lent Iceland £2.2 billion as part of a deal to compensate savers hit by the Nordic banking collapse

A 14-year-old boy has been stabbed at the ExCeL centre in east London as government minister Tony McNulty opened a skills and careers fair for young people at the venue

London businesses blasted a minister for suggesting that a property tax should be abolished in the North but was “appropriate” for the capital

Offshore tax dodgers will be facing a second round of investigations by HM Revenue & Customs next year.

Sir Tom McKillop chairman of Royal Bank of Scotland has issued a sweeping apology for the dramatic implosion of the banking giant.

A gambler has broken records by claiming the largest amount won from a British bookmaker winning more than £2 million on an online fruit machine on a 50p stake.

Stuck for what to get the man who has everything this Christmas? Help is at hand from a department store which is selling a £15000 dressing gown.

New drivers could be banned from the road if they commit a single offence of doing 45mph in an 30mph zone

Marianne Faithfull has claimed that her one regret in life was taking drugs

Pharmaceuticals: Drugs giant AstraZeneca is axeing 250 UK jobs as part of a plan to shed 1400 worldwide

Panama extradites a Colombian suspected of running the country's biggest pyramid finance scheme.

Most of the 1.8m private shareholders in Santander, owner of Abbey and Alliance & Leicester, are not being given the chance to buy new stock in the Spanish bank’s €7.2bn rights..

Latvia becomes the second European Union country to seek the International Monetary Fund's help to stabilise its financial system.

House sales and mortgages saw a slight increase in October as sellers finally began to drop prices - but the market remains stuck in the doldrums

Falling interest rates mean savers have a limited amount of time to benefit from existing deals, says Huma Qureshi

This year’s Pre-Budget report will bring in some tax-cutting measures and here the experts predict what they will be.

Alwaleed bin Talal injects much-needed cash into ailing bank

The UK's public sector net borrowing widened by £1.4bn in October ahead of the pre-Budget report, official figures show.

The deteriorating state of Britain's finances is underlined with figures that show the biggest deficit since records began.

The FTSE 100 drops in London and the Dow Jones Index in New York as the economic news from around the world signalled a sharp slowdown next year.

Engineering: Engineering giants Rolls-Royce and BAE Systems cut 2200 jobs today as the economic gloom deepened