UK economic growth slows sharply

UK economy comes to a standstill
UK economic growth ground to a halt between April and June, official figures show, heightening fears of a recession.

Economic growth continues to ease
The UK economy grew 0.4% in the first three months of the year, its weakest quarterly growth in three years.

OECD fears economic slowdown
The OECD says economic growth in the world's richest countries will slow as a result of the credit crunch.

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.

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.