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After the collapse of the US sub-prime mortgage market, the global economy is in the throes of a credit crunch.

Money (credit:Reuters)

Half of UK businesses to freeze pay  »

Nearly half of all businesses are expected to freeze pay at their next annual review, according to a new survey by the employers' organisation the CBI. Ben King reports.


Curb on bonuses for reckless bankers  »

The City watchdog will get the power to veto bankers' contracts if they reward unwarranted risk-taking, in a bill to be included in this week's Queen's speech. Carl Dinnen reports.

City workers (Credit: Reuters)

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