Inside Business

£37bn bail-out for three banks

Three of Britain's biggest banks were thrown a £37bn lifeline by the Government today as part of a dramatic taxpayer rescue of the UK's banking system.

Stephen King: Lessons from the Great Depression of the 1930s have not been learnt

We are living through financial history of the tragic kind. As of Friday's close, America's stock market had declined in value by well over 40 per cent compared with its peak a year ago. Already, this ranks as the fifth biggest stock market decline since the 1920s, beaten only by the 1929 Wall Street Crash (and the ensuing Depression in the early-1930s), the technology collapse of 2000, the crash that occurred after the Yom Kippur War (and quadrupling of oil prices) in 1973 and, finally, the collapse in 1937/38 when war was breaking out all over Europe.

The Week Ahead: Autonomy can benefit from banking upheaval

As the investment banking industry goes through unprecedented change – where one seems to disappear or need rescuing every other week – analysts believe opportunities are growing for those in the support services sector.

Market Report: Shares slump as recession fears take hold

It was a miserable end to a miserable week. The fears of recession took hold in earnest yesterday and the terror was palpable. The market opened and plunged, screaming down 10 per cent to smash into the 3,000-levels for the first time in five years.