Global Markets

ECB delivers another cut
 Central bankers cut by 50 basis points to battle worsening recession
The European Central Bank surprises no one with its latest cut, but analysts are not sure if this will be the last cut for awhile or not.
• European new car sales slump
 • Euro-zone CPI slows to 1.6%
 • Historic fall in Spanish house prices

EUROPE MARKETS
 Shares lower after rate cut
Stocks fall in a volatile session amid continued worries about the health of the economy after rate cuts. Banks got hit hard once again. 
• London shares pull back from lows | Dollar rallies against euro
 • Citi shuffles Europe auto ratings, sees bleak 2009
 • Carphone less hurt by economic storm than DSG

FOOD AND DRINK
Even for brewers it's bad
 Global economic crisis hits brewers SABMiller, which reports weaker demand and Carlsberg, which announces job cuts.

asia economy
 More grim news for Japan
Machinery orders, a barometer of capital investment, drop 16.2% to the lowest level in 21 years as recession tightens hold on world's second-largest economy.
• China FDI rises 23.6% in 2008
 • Asia stocks fall sharply

financials
Big banks tied to Madoff?
 UBS, HSBC reportedly may be liable for $3.2 billion in losses related to the Bernard Madoff scandal over roles as fund custodians.

 
ECONOMY
S&P cuts Greece's
credit rating
Downgrade comes after a warning last week. S&P says global crisis is taking a toll on the economy.
 

DAVID MARSH
Sailing into uncharted monetary waters

Bank of England's move to near-zero interest rate could be compared with experimenting untried fields of science.
 

CRAIG STEPHEN:
THIS WEEK IN CHINA
Regulation furor bad sign for Hong Kong

Hong Kong regulators face rearguard action in their attempts to control insider trading.
• For business news in Chinese, see Chinese.wsj.com
FROM TIMES ONLINE
Business news from London and beyond, in partnership with the award-winning Times Online.
 Read more at Times Online »
 
NIKKEI
FTSE 100
MARVEL

ENERGY
Schroeder to join BP's Russian venture
 Former German chancellor to join the board of TNK-BP as one of three independent directors. 

AEROSPACE/AIRCRAFT
 Airbus beats out Boeing
 European aircraft maker holds onto the top spot for global jet deliveries for the 6th year running, but warns on 2009 outlook.

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