Credit crunch hits high street
Updated on 02 October 2008
One of the stalwarts of the British high street announces its worst quarterly performance for more than three years.
More figures show house prices have also slumped by a record rate, falling for 11 months in a row.
And as savers search for security, Northern Rock has announced it's closing some of its savings deals as customers rush to set up guaranteed accounts.
The deteriorating economic outlook has led the EEF, the manufacturers' organisation, to call on the Bank of England to start cutting rates next week.
European leaders, including Gordon Brown, are to meet at an emergency summit this weekend.
