House prices fall for fifth month in row
25/02/08

House prices fall for fifth month in a row as Nationwide homebuyers are told to pay a 25% deposit and Germany's HSH Nordbank sues UBS over exposure to sub-prime danger.

• House prices fall for fifth month in a row, according to Hometrack
• Nationwide homebuyers told to pay 25% deposit or penal interest rate - Guardian
• Eight Turkish soldiers and 33 Kurdish separatist militants killed as Turkey continues an assault on PKK bases in Iraq
• Suicide bomber kills 60 Iraqi pilgrims
• United Nations poised to ration food aid as prices soar
• HSH Nordbank of Germany to file a suit to seek repayment of hundreds of millions of losses on a portfolio of collateralised debt obligations structured and managed by UBS

• City law firms to reform hourly fee system after client complaint
• London Stock Exchange chief, Clara Furse, set to support a plan by the Tories to establish a green environmental market
• International Olympic Committee set to raise £508 million from sponsorship
• Share trading and reporting of trades show signs of fragmenting since the introduction of European rules
• Oil and gas companies have overtaken banks as the biggest contributor to the exchequer
• Half the collateral backing cash advanced by the Fed Reserve to banks operating in the US is in loans rather than securities

• Local banks in emerging markets are offering financing packages to private equity firms to try to win business
• Freight derivative volumes have soared as banks and hedge funds turn to a market unaffected by the credit crunch or economic slowdown
• London has become a less popular listing venue for technology companies
• Procter & Gamble to cut 15% of its senior staff and reorganise its international operations
• BAA under pressure to cut airport property prices
• First biofuel flight dismissed as Virgin stunt

• Ralph Nader joins race for the White House
• Financial Services Authority to issue new guidance on directors' dealings
• Corporation tax surge outstrips profit growth
• LogicaCMG's Iberian chief resigns
• UK finally pays to see £100 million tax dodgers list
• Tottenham Hotspur defeats Chelsea 2-1 to win the Carling Cup at Wembley.