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- Olan Mills photography studios cease trading
Olan Mills the photography studio has joined the list of retailers falling victim to the downturn. - Japan's Nikkei 225 slumps to worst year on record
The stock market limps to its worst ever year as recession deepens in the world's secondlargest economy. - GMAC gets 6bn from US Treasury
The US Treasury committed 6bn Ј4.1bn to support GMAC the financing arm of General Motors widening the government's effort to keep the country's largest motor manufacturer out of bankruptcy. - USC in administration: Sir Tom Hunter buys 43 stores
Scottish entrepreneur buys USC stores after clothing chain becomes latest retailer to fall into administration. - Sterling nears parity with euro amid UK recession worries
The prospect that sterling enters 2009 worth less than the single currency for the first time in history edges closer. - Retailers are paying the price for prepacks
The decision by credit insurers to withdraw cover for a string of leading retail chains provoked outrage earlier this month. - Commodities help drive FTSE higher
THE FTSE 100 surged by almost 2.5pc on Monday led higher by oil explorers and mining companies. - Iceland may get stake in retail group Baugur
Baugur the retail conglomerate is in talks with Iceland's stateowned banks about restructuring. - A little belttightening improves the feelgood factor
Fear drives a recession but most people can't save enough to stave off the dire effects of losing their job says Tracy Corrigan. - UK pensions end year in surplus
The UK's 200 largest privately sponsored finalsalary pension schemes look set to end 2008 in surplus. - Will oil prices recover after tanking in 2008?
The oil price gyrated wildly in 2008 - but what's in store for the price in 2009 asks Garry White. - Small businesses seek cap on credit cards rates
Recessionhit small business owners should be protected from onerous credit card interest rates industry body urges Government. - USC designer clothing chain goes into administration
USC the designer clothing chain backed by entrepreneur Sir Tom Hunter has become the latest retailer to collapse. - Hot Tuna turns cold without Elle Macpherson
Iconic surfwear brand Hot Tuna which until last year included Elle Macpherson on its board has booked a Ј5.2m pretax loss despite sales increasing 81pc in the year ending 30 June. - USC designer clothing chain heads for administration
USC the designer clothing chain backed by entrepreneur Sir Tom Hunter is set to become the latest retailer to collapse into administration. - Tagging company Dmatek agrees Ј53m bid from private equity
Dmatek a company that specialises in creating technology that monitors people for law enforcement agencies and governments has agreed to a Ј52.9m takeover by a group headed by private equity fund Francisco Partners. - Age discrimination claims to rise as redundancies soar
Employees claiming that they have been unfairly discriminated against on age grounds will rise in the downturn. - Basil Brush owner confirms talks with investors
Entertainment Rights the firm behind tv programmes including Postman Pat and Basil Brush is seeking funds. - Justice delayed is justice denied for Equitable Life victims
Justice delayed is justice denied for Equitable Life victims - Share forecasts and tips for 2009
Our panel of experts predict which share investment sector and country will provide the best returns in 2009. - Icelandic government could take stake in House of Fraser owner Baugur
The Icelandic government could take a financial interest in House of Fraser Hamleys Debenhams and other stores partowned by retail giant Baugur under a proposed debtforequity swap according to sources close to the company. - Rouble in trouble
As it devalues the rouble the Bank of Russia is trying to prevent a soft landing from becoming a sudden fall. - Pound heads towards parity with euro in thin festive volumes
The pound weakened to a record low against the euro as analysts speculated that thin trading volumes over the holiday period could see it hit parity with the single currency. - Insurance fraud on the rise
Growing numbers of policyholders are lying on application forms to save money their insurance policies. - Home owners no longer cashing in on value of homes
More home owners are using spare cash to pay off mortgages reversing the trend of taking equity out new figures reveal. - Jobs: it's not all bad some skills are still hot
With the UK economy in recession hundreds of thousands of jobs are expected to go this year. But there are a few areas where demand for staff is still strong and even on the rise. - Chanel to cut 200 jobs as the rich tighten their belts
Chanel the luxury fashion label is to cut 200 jobs as the rich tighten their belts according to reports. - Financial crisis: The Z to A of the year the world turned upside down
Have this year's horror stories left you lost for words? Try Alistair Osborne and Jonathan Sibun's lexicon of a turbulent 12 months. - US recession may end up Dubyashaped
President Bush's unfortunate economic legacy may be the current downturn's eponymous shape.