Sky-high fuel hurts US airlines

Cathay Pacific in profit warning
Shares in Hong Kong carrier Cathay Pacific plunge 14% after it warns of falling revenue and fuel hedging losses.

Asian markets quieter in trading
After dramatic rises earlier in the week, Asian stock markets see small opening losses, after Wall Street ended its day down.

Lehman plunges on funding fears
Shares in US investment bank Lehman Brothers plunge 30% on fears it will not be able to raise the funds it needs to cover losses.

JP Morgan losses gather momentum
JP Morgan Chase says it has sustained $1.5bn in losses related to the sub-prime crisis since the end of June.

UBS reports more sub-prime losses
Swiss bank UBS announces more losses and write-downs linked to debt based on US sub-prime mortgages.