The Herald - Latest Scottish News, Business, Politics, Sport from Glasgow, Edinburgh

Market meltdown as FTSE slumps to four-year low

London's FTSE 100 Index slumped to a four-year low today as investors rushed for the exits on another day of pain for global stock markets. continued...

HEADLINE NEWS

Shares crash £93bn in record market fall

Panic gripped the global money markets once again yesterday as business leaders claimed Britain was now in recession and warned unemployment was set to rise by up to 350,000 in the next year.

Increase in alcohol abuse fuels youth crime

The number of young offenders who blame alcohol for their crimes has almost doubled in the last 30 years, according to the most comprehensive study into drinking and violence in Scotland.

Rail chaos as signal workers begin stoppages

Thousands of rail travellers face days of disruption after talks aimed at averting strike action on Scotland�s services broke down yesterday.

Glenrothes by-election to take place on November 6th 2008

The Glenrothes by-election will take place on Thursday 6th November, it was confirmed tonight after a meeting of the parliamentary Labour party at which it was declared that "hostilities are over" within the party.

Power firms warned over unfair charges for some

OFGEM, the energy regulator, yesterday warned suppliers to end unfair tariffs which discriminate against pensioners, low-income families and prepayment meter customers, or face action by the end of the year.

Anger over drink-drive level 'backtrack'

Road safety campaigners accused the Government of "backtracking" today after a minister said proposals for a cut in the drink-drive limit had been dropped.

Rail strikes will go ahead after talks break down

Two days of strikes on Scotland's rail services will go ahead this week after talks aimed at averting the action broke down today.

Salmond reveals renewables plan

An ambitious plan to expand Scotland's renewable energy output over the next decade, to meet and exceed European Union targets, has been launched by the First Minister.

‘Party rebellion over’ as by-election date declared

The Glenrothes by-election will take place on Thursday, November 6, it was confirmed last night after a meeting of the parliamentary Labour Party at which it was declared that "hostilities are over" within the party.

MAIN BUSINESS

German government agrees €50bn rescue plan for Hypo

The German government and banks rushed to the rescue of Hypo Real Estate late last night as the country�s second-largest mortgage lender teetered on the precipice of collapse.

Fed could cut US interest rates to boost economy

Federal Reserve officials are considering a cut in US interest rates, possibly at the central bank's next meeting at the end of the month, in the face of a deteriorating economic outlook.

US’s big banks getting fit for new purpose

Analysis: Goldman Sachs Group and Morgan Stanley have emerged from the carnage on Wall Street fitter and ready for a long battle to survive in the brutal jungle of global banking.

MAIN SPORT

McFadden could be the man to lead Scots

James McFadden�s barren stretch of form at Birmingham City culminated in Alex McLeish taking the bold decision to drop the club�s record �6m signing for the weekend defeat of Queens Park Rangers.

Old Firm rivals have buried hatchet

David Weir, of Rangers, and Celtic�s Gary Caldwell have put their Old Firm feud behind them as they prepare for a possible reunion on international duty on Saturday.

Hampden would be new ground for Iwelumo

Chris Iwelumo, the Wolver�hampton Wanderers striker, cannot wait for Saturday�s World Cup game against Norway, especially as he has never even set foot in the Hampden Park complex.

Hoy happy to lend a hand on another big day

Chris Hoy, the quadruple Olympic champion, yesterday helped launch a �65,000 development programme which may enable Scottish Cycling to find his successor, and even a team-mate to help him win further Commonwealth Games gold.

Alcalde to cope with step up in distance

Mark Johnston usually starts to make hay with his huge army of juveniles at this time of year and Alcalde looks a likely winner of Leicester�s ladbrokes.com Squirrel Conditions Stakes.

Learning the game: Ramsay proves he is up to challenge

A single-minded approach has paid off handsomely for Richie Ramsay, who has virtually secured his place on the European Tour next season with his second victory on the Challenge Tour in Toulouse, France.

Turnberry could soon become the home of the European Open

Douglas Lowe on Tuesday: Turnberry is poised to become a regular home for the European Open after the South Ayrshire course stages next year�s Open Championship.

St Mirren hero back to earth with a bump

There was little sign of Stephen McGinn getting carried away with his achievements after the midfielder scored the only goal of the game as St Mirren pulled off a shock victory over Rangers at Love Street yesterday.

Love story’s twist in the tale

St Mirren 1 - 0 Rangers: This was Rangers� last league visit to St Mirren Park before the bulldozers move in early next year and tear the place down.

Sutton saves Motherwell as defences take day off

Motherwell 3 - 2 Falkirk: Mark McGhee is, by nature, a man who sees the glass as half-full. Hence his ability to accentuate the positive in Motherwell�s desperate performance against Nancy.

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