Italian economy shrinking again

UK to suffer 'severe' recession
The OECD says that the UK will suffer a deeper recession than any other major economy in 2009.

Singapore officially in recession
Singapore downgrades its economic growth figure, which confirms it was Asia's first country in recession in the current financial crisis.

Spain 'to slide into recession'
Spain is likely to slip into recession in the fourth quarter and stay there into 2009, the Bank of Spain governor says.

Mitsubishi UFJ profit drops 64%
Japanese banking giant, Mitsubishi UFJ Financial has posted a 64% drop in its second-quarter profit but reiterated its lowered full-year forecast.

Japanese economy now in recession
Japan's economy falls into its first recession since 2001 after shrinking by 0.1% in the July to September quarter.