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USA UK and Malta News
22/10/2008 - 19:15

UK Today Editoweb 22 october 2008

German prosecutors unveil raid on state-owned KfW bank - Bank gives few rate cut clues - Retail sales likely to show sharp fall in September.



German prosecutors unveil raid on state-owned KfW bank

Frankfurt prosecutors said Wednesday they had searched the Frankfurt offices of German state-owned KfW bank in connection with a payment to a bankrupt US bank last month.

Bank gives few rate cut clues

Bank of England policymakers unanimously backed this month's emergency interest rate cut, minutes showed on Wednesday, but analysts said they shed little light on how far borrowing costs would ultimately fall.

Retail sales likely to show sharp fall in September

Most analysts reckon retail sales fell sharply in September as economic woes weighed on consumers, but it's far from certain whether official data on Thursday will reflect that view.

Cadbury sees Russia market growth

Sweet-toothed Russia's confectionery market will grow in the mid-teens percent next year and Cadbury can gain market share, its managing director for the region said on Wednesday.

FTSE closes 4.5 percent lower

The leading share index ended 4.5 percent lower on Wednesday, with mounting recession fears further undermining sentiment on ailing banks and demand worries knocking commodity stocks.

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