UK Today Editoweb 2 october 2008

EU rescue fund rejected as U.S. bailout advances

The European Central Bank's chief and the chairman of euro zone finance ministers sided with Germany on Thursday in rejecting any need for a European rescue fund for banks suffering from the global financial crisis.

Share prices crumble on investor nervousness, US data

Share prices crumbled worldwide Thursday on anxiety over the fate of a US finance sector bailout and disappointing US economic data.

ECB opens door for lower rates as turmoil bites

The European Central Bank opened the door for its first rate cut in more than five years on Thursday, saying inflation risks have eased as financial market turbulence hits the euro zone economy.

TSE ends down 1.8 percent on commodities

The FTSE 100 ended down 1.8 percent on Thursday after weak U.S. data renewed recession fears, and the fate of a financial bailout package remained uncertain ahead of a key lawmaker vote on Friday.

Thomson Reuters "challenged" but reaffirms outlook

News and information publisher Thomson Reuters reaffirmed its 2008 outlook on Thursday, although it said the financial crisis hitting many customer banks would hurt the company in the short term.

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