Global recession: Sony Ericsson and Toshiba cut 6,000 jobs

Sony Ericsson has already laid off 2,000 workers, while Toshiba will lay off 3,900 contract workers in Japan by March 2010. By Julia Kollewe
Russia's oligarchs lose 70% of their wealth in a year

Forbes Russia rich list reports a 'spectacular decrease' in the worth of the country's industrialist elite
Experts urge full nationalisation of Ireland's banks

Temporary takeover is fairer to taxpayers than taking on €90bn of toxic loans, economists argue
Sickly pound a vital asset, says minister

Mervyn Davies is not worried about the declining pound as it provides a 'huge exporting opportunity'

Market data

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Other news

UBS cuts a further 8,700 jobs

UBS chief executive says that the global workforce could be cut to 67,000 as the bank faces a first-quarter loss of Sfr2bn (£1.17bn)
BP centenary marked by investor revolt

Outgoing chairman Peter Sutherland given rough ride over involvement with Royal Bank of Scotland
Halfords buoyed up by biking Britons

Strong bike sales see Halfords enjoy better than expected profits of £92m-£93m. By Zoe Wood
Nokia's smartphone loses out to iPhone

Phone manufacturer's profits plunge more than 90% as cash-strapped consumers hold on to handsets
US economy goes back to 1955

The consumer price index fell at an annual rate of 0.4% in March, the first decline for more than half a century. By Julia Kollewe
- US to reveal robustness of its top banks
Bank leaves interest rates on hold

The Bank of England left interest rates on hold but said it was determined to continue with its policy of kickstarting the economy with £75bn of new money. By Ashley Seager

Market forces live
BT's pension deficit

'More details are expected when BT reports full year results on 14 May, but the company's investors have taken heart from news that the pensions regulator intends to be flexible in its approach to helping companies with their deficits'

Comment and columns
On Europe: Boom in short-time working is protectionism by stealth

Is short-time working throughout Europe just a quick-fix panacea before mass unemployment kicks in?