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News Round-Up. (30.10.2008)
Posted: Thursday 30th Oct 2008
Starting with The Telegraph, house prices have fallen by almost 15% in the last year, while the Bank Of England admits it didn’t act fast enough to stave off the recession.
The Guardian reports that the Federal Reserve’s drastic cut in interest rates may be aped by other central banks across the world, as Deutsche Bank announces big falls in profits.
The Times follows with news that the Pound has made a recovery against the Dollar, whike Hungary becomes the first EU country to go to the IMF with begging bowl in hand.
Next, The Independent says that German airline Lufthansa is about to gobble up the ailing BMI, while Chancellor Alistair Darling admits taxes may have to go up.
The Daily Mail takes time off from demanding the immediate lynching of Jonathon Ross and Russell Brand for doing what they’ve always done by noting that mortgage lending went negative in August while 10% of small firms face ruin.
And finally, the BBC, still in shock over David Tennant leaving Doctor Who and the public being a bit silly, has news that the number of repossessions is on the rise, but so too are Asian shares as they rally in the wake of the Fed’s big cut.