Europe's major economies contract

Russia pushes Ukraine on gas debt
Russia demands Ukraine to repay a $2.4bn gas debt, raising fears of a renewed dispute which could disrupt supplies to Europe.

Pound falls again against dollar
Sterling's losses mount as the currency hits its lowest in six years against the dollar on fears of a deep recession.

Oil falls to below $60 a barrel
The price of Brent crude oil falls below $60 a barrel for the first time in 20 months, amid fears of a recession in the US.

European markets fall on opening
Major stock markets in European fall on Wednesday after weak company results in the US renew fears of a recession there.

Shares struggle on Asian markets
Major stock markets in Asia fall on Wednesday after weak company results in the US renew fears of a recession there.