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• The stock market: how bad can it get?

The roar of the bear is shaking the London stock market once again. The FTSE 100 Index of leading shares fell as low as 5,358 yesterday morning, taking the total loss since last June's peak of 6,732 to a shade over 20 per cent – the technical definition of a bear market.

• The Big Question: Is the global domination of Starbucks finally on the wane?
• BP faces endgame

Every war creates refugees. So it was in Russia yesterday, where the first victims from the bitter boardroom battle which has erupted between BP and the Russian billionaires with whom it owns TNK-BP began trickling out of the country.

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