Round-up: Osborne 'will avert new credit crunch'

Bulls triumph over bears, Fed freezes short-term rates, and pension funds take a beating from stock market turmoil...our round-up of the news from the nationals.

GUARDIAN OSBORNE TO INSIST HIS PLANS WILL HEAD OFF NEW CREDIT CRUNCH George Osborne will insists that the government is sticking to its tough deficit reduction programme when he updates MPs tomorrow about the turmoil in the global economy. DAILY MAIL SHARE CARNAGE WIPES £120BN OFF THE VALUE OF OUR PENSIONS More than £120bn has been wiped off the value of Britain's pensions in the last month following the stock market turmoil. The National Association of Pension Funds released figures last night showing the true cost to the public of the crisis that has caused carnage in the markets. ...