Today's Economy Headlines

Shares rise as confidence returns
World stock markets power ahead, as investors welcome government action to shore up banks.

US unveils $250bn banking rescue
The US government will buy stakes in major banks to try to stabilise the battered financial sector.

Consumer inflation reaches 5.2%
The annual rate of UK inflation hits a 16-year high of 5.2%, with higher energy bills behind much of the increase.

Germany 'on brink of recession'
Germany's economy is heading for recession and will only expand by 0.2% in 2009, the country's four leading economic think tanks warn.

House sales hit new 30-year low
The UK property market slump is becoming even worse, says the Royal Institution of Chartered Surveyors.

Icelandic stock exchange reopens
Trading resumes on the Icelandic stock exchange for the first time since its suspension last Thursday.

Krugman wins Nobel for economics
American Paul Krugman has won this year's Nobel economics prize for his work on trade patterns, it has been announced.

IMF in global 'meltdown' warning
The world is facing financial "meltdown", the International Monetary Fund warns, as it offers help to credit-starved countries.

Europe acts to strengthen banks
Major European economies announce financial rescue schemes to shore up their banking systems.

EU chiefs confront markets crisis
European heads of state meet in Paris to try to establish a common approach to the global financial crisis.