UK Today Editoweb 23 october 2008

Iceland and UK finish round of talks on deposits

Iceland and Britain have finished a round of talks in Reykjavik but have yet to agree on a solution on how to pay British depositors of failed Landsbanki's Icesave bank, the Icelandic government said on Thursday.

OPEC set to cut oil output but mindful of crisis

OPEC President Chakib Khelil said Thursday that the oil producers' cartel will decide to cut production at an emergency meeting due in Vienna but was wary of worsening a global financial crisis.

Latin America in jaws of global crisis

Governments in Latin America stepped forward Thursday to calm markets left despondent by fears of a global recession and Argentina's decision to nationalize pension funds.

Recession fears drive euro to multi-year lows

The euro fell on Thursday to multi-year lows before rebounding on another turbulent day for stock markets, as fears grew that the worldwide economic slowdown would hit Europe hard, dealers said.

British dispute delays Iceland deal with IMF: report

Iceland's decision to seek a rescue loan from the International Monetary Fund has been delayed by failure to reach a deal with London over British savings frozen in an Icelandic bank, media reports said Thursday.

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