Iceland guarantees bank accounts

Producer prices fall in eurozone
Eurozone producer prices fell 0.6% during October, raising hopes for an interest rate cut by the European Central Bank (ECB).

Ethiopia starts coffee exchange
Ethiopia, Africa's largest coffee producer, starts trading the crop on a national commodity exchange.

Pound struggles after sharp fall
Sterling slips again against the US dollar after a massive fall on Monday - the largest in percentage terms since 1992.

Asian markets fall on new worries
Asian stocks dropped on Tuesday, following the global trend amid worries about deepening worldwide recession.

JP Morgan axes 9,200 jobs at WaMu
JP Morgan cuts more than 9,200 jobs at the former Washington Mutual, which it took over this autumn.