- The National Association of Realtors reported this morning that existing U.S. home sales fell 9.6% last month and prices dropped to the lowest level in nine years.
- Citigroup announced a 1-for-10 reverse stock split and says it plans to pay a penny-a-share dividend.
- The US Treasury Department is to begin selling off toxic assets worth an estimated $142bn, in an effort to close another chapter of the financial crisis.
- The average British household has seen its real-terms income fall by 1.6% in the worst three-year squeeze since the early 1980s, research suggested today.
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