THE global economy is in a far better place than it was six months ago when “double dip” recession was still a major concern.

THE JOKES started early on Sunday morning: “Liverpool XI v Utd: Grobbelaar, Nicol, Hansen...”

NATIONALISING both Anglo Irish Bank and Irish Nationwide Building Society two years ago would not have averted the need for Government to introduce its bank guarantee scheme, the Dáil’s Public Accounts Committee has heard.

TAOISEACH Brian Cowen has stood over the bank guarantee scheme, despite the fact the Government was warned of the major risks in taking such an approach just days before it was implemented.

Dubai is set to open the world’s tallest building amid tight security today, celebrating the tower as a bold feat on the world stage despite the city state’s shaky financial footing.

MERRILL Lynch’s Irish division has been fined €2.75 million by the Financial Regulator — the second highest penalty imposed by the body.

Bank of America reported a third-quarter loss today of more than US$2bn (€1.34bn) in a sign that the sector has yet to put the crisis firmly behind it.

Investment bank Merrill Lynch was poring over the books of currency traders today after an “irregularity” was found within its trading operation in London.

Investment bank Merrill Lynch today said it was investigating an “irregularity” within its trading operation in London.

Merrill Lynch & Co chief executive John Thain has resigned from Bank of America Corporation, the company said tonight.

As many as 2,000 jobs in the City of London are to be axed after the merger of investment banking giants Merrill Lynch and Bank of America, it was reported today.

The Bank of America expects to shed 30,000 to 35,000 jobs over the next three years, as it faces a deteriorating economic environment and tries to absorb Merrill Lynch.

Shares tumbled today as US investors reacted to a stunning reshaping of the landscape of Wall Street.

US banking giant Merrill Lynch might not pay any corporation tax in the UK for several decades after channelling US$29bn (€19.73) of losses through its London operation, a report said today.

LEHMAN BROTHERS is expected to follow in Merrill Lynch’s footsteps and sell a lot of risky assets at a loss.

Wall Street closed an erratic session mixed today after an uneven batch of earnings reports made investors more cautious about buying stocks.

Wall Street started the week with a mixed performance today, with many investors moving to the sidelines as they wait for quarterly profit reports.

US stocks pulled back sharply today, erasing most of the previous session’s big gains as investors grew concerned about high commodity prices and the possibility that banks remained vulnerable to further problems from soured debt.

A growing conviction that the US is heading for a recession sent Wall Street plunging today, with weak retail sales figures and a disappointing quarterly report from Citigroup. exacerbating investors' pessimistic mood.

Stocks sank today as a modest upturn in existing home sales failed to lift investors’ downcast spirits on the last day of Wall Street’s volatile and difficult year.

Wall Street advanced sharply today, boosted by news that Merrill Lynch will receive an investment of up to $6.2bn (€4.3bn) from two investment groups.

Wall Street wilted today as investors awaiting next week’s Federal Reserve meeting remained uneasy that fallout from the slumping housing market could bring more bank losses and pull the economy into recession.

Dublin Airport’s impressive new €120m extension will be opened today.

Investment bank UBS today warned of further write-downs amid the fall-out from the US sub-prime mortgage crisis as it posted its first quarterly loss in nine years.

Stocks barely budged today, ending narrowly mixed after yields on the 30-year Treasury note briefly hit 5% and investors grew skittish a day ahead of the Federal Reserve's first meeting of the year.

BP chief executive Lord Browne is expected to use his company’s second quarter earnings presentation today to confirm plans to stand down in 2008.

Stocks soared today on news that Federal Reserve policymakers believed their run of interest rate hikes is probably nearing an end, propelling the Dow Jones industrials up nearly 200 points.

Wall Street regained its composure today, marching higher after companies including Merrill Lynch & Co. and International Business Machines Corp. beat earnings expectations.

Merrill Lynch said that weak activity in its global markets and investment banking contributed to a decline in third quarter earnings compared to a year ago.

The London market wrapped up a week of progress today by moving within touching distance of the 4500 barrier.

Merrill Lynch & Co must find buyers for €380 million of National Australia Bank stock after only 45% of shareholders in Australia’s biggest bank took part in a dividend reinvestment plan.

Merrill Lynch & Co ousted Deutsche Bank AG last quarter as the most accurate forecaster of foreign exchange rates. The New York-based firm’s strategy team predicts the dollar’s two-month rally won’t last.

THE dollar will extend its 14% drop against the euro in the past 12 months and decline against the yen after the Group of Seven finance ministers called for flexible exchange rates, according to Merrill Lynch & Co.

Merrill Lynch have said that its second-quarter net profit rose 61%, smashing Wall Street's earnings estimate because of solid fixed-income trading profits and its retail clients' renewed zeal for the stock market.

CONSTRUCTION giant CRH got a wake up call yesterday when its British broker Merrill Lynch downgraded the stock to a hold. Its share price fell 58c on the day to 11.85.

London shares - feature movements at 10.00 am

A damaging seven-line e-mail from Merrill Lynch, the investment bank, on stoked fears of financial difficulties at Commerzbank, one of the largest banks in Europe, the Financial Times reported on its web site.

FTSE 100 risers and fallers listed.

Wall Street’s fortunes turned negative again today as a downgrade of chip makers by Merrill Lynch and retailers’ disappointing sales gave investors more reasons to doubt the strength of a business recovery. Stocks fell sharply, with the tech sector suffering the heaviest losses.

The FTSE 100 Index closed up 57.1 points at 5271.8.

Merrill Lynch has sent emails to all its employees asking them to consider voluntary redundancy.