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UK banking stocks are being hammered after the FTSE 100 suffered its biggest one-day points drop, with £93 billion wiped off shares.
Royal Bank of Scotland shares have taken a dramatic tumble amid rumours bosses are in talks with the Government over funding.
The UK is already in recession and may be facing a prolonged downturn, the British Chambers of Commerce (BCC) has warned.
Chancellor Alistair Darling is meeting European finance ministers to discuss a response to the global economic crisis.
Thousands of rail passengers in Scotland will face travel misery on Tuesday as signal workers stage the first of two strikes this week.
The energy watchdog has proposed measures to ban unfair price differences.
