Nightmare on Wall Street
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It's been dubbed the Nightmare on Wall Street. America's fourth biggest bank Lehman Brother's %3Ca%20href="http://news.bbc.co.uk/1/hi/business/7615931.stm">has gone bust with massive repercussions. %3Ca%20href="http://news.bbc.co.uk/1/hi/business/7617976.stm">Stock markets across the world are falling, London's FTSE 100 Index has plunged to its lowest level in more than three years, and the Halifax saw their shares slump by a third.
Meanwhile %3Ca%20href="http://news.bbc.co.uk/1/hi/business/7618286.stm">inflation has reached a 16 year high - rising to 4.7 per cent last month on the back of soaring gas and electricity prices and the Governor of the Bank of England has been forced to write an explanatory letter to the Chancellor - warning that inflation will remain high well into next year.
So how is all this affecting the UK economy? Can we still trust Banks with our money? How will Welsh business cope if money markets tighten across the world?
Wales@work looks across the pond and asks what does this mean for Welsh business and the longevity of the credit crunch.
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