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News Round-Up. (10.10.2008)
Posted: Thursday 9th Oct 2008
Over the Atlantic, CNN is reporting that the Dow Jones average is
still taking a battering, while the Washington Post predicts nothing less than the death of US Capitalism as we know it.
Back in Blighty, the BBC has more on Wall Street’s woes, while Gordon Brown is demanding a cut in the cost of oil. (Presumably to deaf ears and gails of laughter.)
Next, The Telegraph reports that the big losers in the forthcoming recession will be the soon-to-be unemployed, while a columnist argues that greed, while now unfashionable, is still rather good.
The Guardian follows with coverage of Asia’s own descent into market
chaos, as the Treasury tries to negotiate a deal with Iceland over all the UK money it now controls.
Then, The Times continues, with news that Channel 4 has dropped its plans for digital stations as ad revenues, well, drop; and panicked investors are now ploughing their money into… property?
And finally, The Independent says that British charities are yet another group of losers in the big Icelandic bank meltdown, as a Minister admits Britain is on the brink of a recession…