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10 Oct 2008 07:00PM - Faisal Islam

World credit has seized up from Tokyo to London, from Frankfurt to New York. Is the world on the verge of a global recession?

George Bush

What can world leaders do? »

Finance ministers from the G7 gather in Washington to try to agree co-ordinated action: Britain's bank rescue plan is seen as a key solution. Jonathan Rugman reports.


Unravelling Iceland's mess »

Diplomatic war with Iceland cools as both London and Reykjavik near a deal to pay out those who have suffered financial loss, the details are vague but Cathy Newman has the latest.

Icelandic bank

Mark Zuckerberg

Facing the future with Facebook »

So how is new business preparing for the recession to come? Benjamin Cohen talks with the boss of Facebook: he thinks he can survive a three-year downturn, but then what?