Compiled by Laura Slattery.
The numbers:
$1.4099 Exchange rate reached by the euro against the dollar yesterday, its highest level ever, following the US Federal Reserve's decision to cut interest rates by half a percentage point.
640,000The number of foreclosures (repossessions) initiated in the US in the first six months of the year, compared to around 450,000 in the first half of 2006, according to Fed chairman Ben Bernanke.
$82.51The new record high achieved this week for a barrel of US light crude oil, as the Fed cut rates and oil stocks fell by double the expected rate.
Quote of the week:"There was no point in blowing up the train before it hit the buffers."
Bank of England governor Mervyn King explains to a House of Commons Treasury Select Committee why it did not intervene earlier in the Northern Rock affair.
Quote of the week 2:"I will do whatever I have to do to avoid the M50."
- Ibec's director general, Turlough O'Sullivan, talks about his personal hell battling the Republic's "creaking" infrastructure from behind the wheel at a Mason, Hayes & Curran conference called Post Celtic-Tiger Ireland.
Good week:
Hemline economics theory
When skirt hemlines creep up the thigh, the global economy is buoyant, so this theory goes. When they fall below the knee, the economy is faltering. At London Fashion Week, skirt and dress lengths were both mini and midi (calf-length), subconsciously reflecting the current confusion in money markets and risk of recession in the US.
Jonathan Pierce
The Credit Suisse banking analyst has urged investors to sell any holdings in Northern Rock on 10 separate occasions since January, while his analyst peers were issuing "buy" recommendations right up until the queues snaked around British high streets and the website crashed.
Philanthropy
A "guide to giving" has been drawn up by Philanthropy Ireland to help the 300 people in the Republic with a net worth of more than €30 million realise their inner desires for more "planned giving". Only 15 per cent of all donations made to not-for-profit organisations comes from private donations.
Bad week:
Inditex
In what looks like a tight race in this year's most embarrassing product recall contest, the owners of Spanish fashion chain Zara take a surprising lead, being forced to withdraw handbags from its stores after a customer pointed out that the design featured swastikas. Zara said the symbol had not been visible when the bags were selected from an external supplier.
Samsung
Chelsea football club's shirt sponsor may be feeling a little nervous now that club owner Roman Abramovich, the world's 16th richest man, has impatiently parted company with its flamboyant manager, Jose Mourinho. Will anyone be quite so interested in what's going on at Stamford Bridge now the charismatic, volatile Mourinho has gone?
Independent News & Media
The news group may have reported a rise in interim operating profits of 4.5 per cent this week, but it could be an unlikely victim of the Northern Rock fiasco - chief operating officer Gavin O'Reilly told the Financial Times that the credit crisis could halt a revival in advertising rates in UK national newspapers.
