LONDON - THE London stock market slumped more than five per cent in late trade on Wednesday, undermined by weakness in the banking sector and after more sharp losses on Wall Street, analysts said.
WASHINGTON - US RETAIL sales in December plunged 2.7 per cent, more than twice market forecasts, as wary consumers snapped wallets shut amid the deepening recession, government data showed on Wednesday.
NEW YORK - US STOCKS fell heavily in opening trade on Wednesday following worse than expected retail sales and renewed concerns over the health of the corporate sector, especially banks.
The Dow Jones Industrial Average dropped 147.03 points (1.74 per cent) to 8,301.53 after the market open and the Nasdaq composite fell 22.30 points (1.44 per cent) to 1,524.16.
LONDON - CARMAKER Jaguar, an iconic British brand now owned by Indian group Tata Motors, said on Wednesday it would cut 450 jobs in a bid to reduce costs.
