The global financial turmoil seen during 2008, and the subsequent slowdown in economic growth, has had a dramatic impact on commodity prices.

Consumers and companies will continue to find it difficult to access credit for the next one to two years, the boss of Barclays bank has said.

The head of Barclays bank has predicted that economic gloom will deepen, with property prices falling by up to 30%.

The falling value of sterling means some people are getting less than a euro for every pound when changing money, The Observer suggests.

The UK’s recession charted.

The eurozone has officially slipped into recession after EU figures showed that the economy shrank by 0.2% in the third quarter.

Germany has entered a recession after government figures showed that the country’s economy contracted by 0.5% in the third quarter.

The Bank of England says the UK entered a recession in the middle of 2008 which will continue through 2009…

World credit loss ‘£1.8 trillion’

Mervyn King has called for “more boredom” in UK banking
The world’s financial firms have now lost £1.8 trillion ($2.8 trillion) as a result of the continuing credit crisis, the Bank of England has estimated.

It is shaping up to be one of the most tumultuous times on record in the global financial markets.