Fed survey offers bleak outlook

Beige book adds to growing fears of protracted recession

• • In depth US downturn
• • Record contraction in US services sector
• • Record rise in US home loan applications

Agence,France-Presse

Rice urges India to foil repeat outrages

Islamabad denies involvement in attacks

• •  Political elite feels wrath of protesters
• • Warning over mass destruction attacks
• •  Defiant city turns anger on politicians
• • Comment India needs clear Pakistan policy
• • Gideon Rachman Lessons from the Mumbai tragedy
• • Analysis India under fire

Western banks face snub by China fund

Chairman points to lack of clarity

• • Paulson in last stand against weaker renminbi
• • Financial crunch weakens Christie’s bidding

Getty

Volatile Wall Street ends day with rally

Banks and homebuilders in favour

• • FTSE recovers following Wall St rally
• • Telecoms and pharma lead European recovery
• • Qantas shares lead weak rally across Asia
• • Short View China fear

US auto union makes concessions

UAW negotiates for emergency funding

• • In depth Detroit in distress
• • Lex Detroit’s misleading mantras
• • US carmakers ask for $34bn
• • John Gapper’s blog The hard road from Detroit to Washington
• • Carmakers’ return trip to Capitol Hill
• •  GM outlines restructuring plan

Record number of companies at risk of default

iTraxx Crossover index rises above 1,000

• • Insight A rocky road to 2010
• • Long View Low yield bonds
• •  Insight A fistful of clamour for a few basis points more

Discounts drive 15% sales jump on ‘Cyber Monday’

US online sales fail to reverse seasonal downturn

BlackBerry maker warns on slowing growth

RIM issues surprise profit warning

• • Lex BlackBerry picking
• • Tech blog
• • Palm plans 20% cuts after sales fall by half
• • Nokia releases its answer to Apple’s iPhone

Commodities prices at six-year lows

Oil volatile after US inventories data

• • China looks to buy more base metals
• • Insight Post-bubble realities
• • Short View China fear