Channel 4 pulls the plug on three proposed digital radio stations owing to a slump in advertising revenues.

If a new rescue plan is not announced this weekend, the world economy may experience its worst slump since the Great Depression.

Microsoft, seeking to revive the share price after a 29 percent slump this year, said Monday it plans to buy back as much as $40 billion in stock, raise its dividend and issue its first commercial paper.

NEW YORK, Sept 15, 2008 (AFP) - Lehman Brothers declared itself bankrupt Monday and Wall Street rival Merrill Lynch had to be taken over in a new financial earthquake that sent global markets into a slump and panicked central banks.

NEW YORK (AFP) - Lehman Brothers declared itself bankrupt Monday and Wall Street rival Merrill Lynch had to be taken over in a new financial earthquake that sent global markets into a slump.

The European Central Bank president Jean-Claude Trichet also said Wednesday that the economy is likely to recover from the current slump toward the end of the year.

Prices climbed Tuesday after a slump in oil eased concern that higher fuel prices would spur inflation and curb earnings at airlines and retailers. Asian shares declined.

There is no scope for interest-rate cuts and the European Central Bank may even need to raise borrowing costs again once the economy emerges from its slump, according to the council member Axel Weber.

WASHINGTON (AFP) - A pair of troubling US economic reports released Tuesday showed a sharp uptick in wholesale prices and a heavy slump in new home construction are continuing to plague the world's largest economy.

Germany's central bank ruled out a dramatic slump in Europe's biggest economy in its monthly report released Monday, Aug. 18, but warned inflationary expectations were becoming entrenched.