Zimbabwe sees GDP growth at 3.7pc

Reuters

Zimbabwe raised its budgeted 2009 spending and increased wages for state workers, saying it planned to issue a government bond for grain purchases.

Nokia cuts sales forecast

Reuters

The world's top cellphone maker Nokia Oyj cut its profitability and market share forecasts due to tough competition, sending its shares sharply lower.

IMF downbeat on UK outlook

Reuters

The UK economy will shrink sharply in 2009 before edging into growth in 2010, and the government should make clear plans to reduce borrowing when recovery comes, the International Monetary Fund said.

Lloyds cutting 1200 more jobs

Reuters

Lloyds Banking Group said it is cutting 1200 jobs in its group operations and insurance business, taking its layoffs to over 8000.