|
Larry Elliott and Heather Stewart
|
|
Monday, 30 November 2009 08:05 |
|
The Guardian, UK
The FTSE 100 index dropped more than 170 points as Dubai World's debt worries spooked investors. Photograph: AP
Share prices in the City suffered their biggest fall since March today amid fears that a debt crisis in the millionaires' playground of Dubai heralded a new phase in the global financial meltdown and a double-dip recession in 2010.
With Alistair Darling admitting that he had been forced to rip up his already gloomy forecasts for the UK economy this year, the FTSE 100 index of leading shares dropped more than 170 points – wiping £44bn off their value.
|
|
Read more...
|
|
David Robertson
|
|
Monday, 30 November 2009 08:01 |
|
TimesOnline
When an Arabian consortium bought the Peninsular & Oriental (P&O) ports company three years ago, American politicians went into uproar over the perceived terrorist threat. It emerged this week, however, that the bombshell the world should have been worried about was the debt that the group was taking on to fund its growth.
The Government of Dubai said on Wednesday that it was seeking a standstill on debt repayments for Dubai World, the vast conglomerate that bought P&O (minus the American ports) for £3.9 billion in 2006.
|
|
Read more...
|
|
Ellen Hodgson Brown
|
|
Friday, 27 November 2009 08:54 |
|
Download PDF
|
|
Arif Sharif and Laura Cochrane
|
|
Friday, 27 November 2009 08:51 |
|
Download PDF
|
