UK & USA Today Editoweb 16 february 2009

Concern over missing philanthropist

Leading British philanthropist Sir Peter Lampl has gone missing, Scotland Yard said.

Second drugs arrest for flight crew

Fifteen members of an airline flight crew have been arrested after cocaine was found in baggage - the second such incident in a month.

Great Train Robber Biggs taken back to prison: son

Ronnie Biggs, one of the most notorious criminals who took part in the 1963 'Great Train Robbery', has returned to jail after having been hospitalised with pneumonia, his son told AFP Monday.

Police search for philanthropist

Leading British philanthropist Sir Peter Lampl has gone missing, Scotland Yard has said.

GM racing to meet restructuring deadline

Negotiators for General Motors Corp and the United Auto Workers union, staring down a Tuesday deadline for the struggling automaker to submit a plan for its survival to the U.S. government, were making progress in high-stakes talks aimed at cutting GM's costs and debt, a person familiar with the matter said.

Japan's economy slumps as global gloom spreads

Japan sank deeper into recession with its worst quarterly contraction since the oil crisis in the 1970s, its reliance on exports and soft domestic demand dragging down the world's second-largest economy.

Men's designers see a time to step back, blend in

Just as flush times gave traditionally staid menswear permission to loosen up, a grim economy is dictating a back-to-basics gravitas and a return to serious business attire.

Fed's Duke: housing woes show tough rules needed

Federal Reserve Governor Elizabeth Duke said on Monday the crisis in housing highlights the need for vigorous enforcement of bank rules and questioned the wisdom of letting banks affiliate with commercial firms.

FTSE 100 down on banking losses

Stocks finished down on Monday as further losses for financial companies led to investor unease about the health of the banking sector.

European stocks drop

Europe's leading stock markets fell on Monday as investors tracked the ailing banking sector and digested evidence of a deep Japanese recession as well as a weekend meeting of key finance chiefs.

Asian markets fall as Japan's recession deepens

Most Asian stock markets fell Monday, as new figures showed Japan's economy contracted at its quickest pace in 35 years and Group of Seven finance ministers warned the global slump will drag on through most of the year. European shares opened lower.

Abercrombie & Fitch 4Q profit drops 68 percent

Teen retailer Abercrombie & Fitch Co., which resisted the steep discounts its competitors offered during the holiday season, said Friday its fourth-quarter profit slid 68 percent as sales slumped.

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