finance

European markets moved ahead on Tuesday - a day after a huge sell-off in global stocks driven by worries about world finance.

Australia's central bank cuts its key interest rate from 7% to 6% - a much bigger-than-expected reduction.

Japan keeps its key interest rate at 0.5% for the 20th consecutive month - amid continued worries about the global financial crisis.

Britain is already in a recession, which is worsening and requires urgent action, business leaders warn in a quarterly survey.

Asian stocks open down sharply amid investor panic that global governments may not be able to stem the financial crisis.

Unions are to ballot for all-out industrial action as Aer Lingus announces plans to cut up to 1,500 jobs.

Iceland offers an unlimited guarantee for all bank savers,as bank shares suspended ahead of financial rescue announcement.

The US Congress holds its first hearing into the cause of the financial crisis, three days after passing a $700bn rescue plan.

EBay, the world's largest online auction site, is set to cut 1,000 jobs - 10% of its workforce - with many more under threat.

The battle for Wachovia continues as Wells Fargo secures an appeal court ruling that overturns an attempt to block the takeover.