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Oil price below $50 a barrel Oil prices have fallen below $50 a barrel for the first time since May 2005 amid fears of recession.

RBS boss apologises over losses The Royal Bank of Scotland's chairman has told shareholders he was "profoundly sorry" for the financial and human cost that the bank's troubles have caused.

China fears grow over job losses China's social security minister has described the country's employment situation as "grim'" and warned that the effects of the global financial crisis were not fully felt yet.

Government agrees Alitalia sale The Italian government has agreed to sell the bankrupt airline Alitalia to a business consortium.

October UK retail sales fall 0.1% Sales on the High Street fell for a second month in a row in October, but at a much lower rate than expected.

US car bosses given grilling US politicians have told the crisis-hit "big three" car makers to come up with their own viable recovery plan if they want a $25bn (£17bn) government rescue.

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