LONDON (ShareCast) - Gordon Brown’s economic rescue package was overshadowed by a warning yesterday that Britain is plunging into recession.

Brown announced a year-long suspension of stamp duty for homes under £175,000, as he began his political fightback with a package aimed at first-time buyers and homeowners. But chancellor Alistair Darling was unable to answer questions on how he will pay for the £600m stamp duty holiday and it emerged that the final decision was only taken at the weekend, reports the Times.

The deteriorating economy is beginning to inflict a toll on the jobs market, in which recruitment has fallen at its fastest rate for seven years, according to new figures. The number of permanent jobs filled fell in August at the sharpest rate since November 2001, while temporary placements declined at a survey-record pace, according to KPMG and the Recruitment and Employment Confederation’s (REC) latest Report on Jobs, reports the Times.

Troubled lenders in the UK may have tapped the Bank of England's emergency funding scheme for as much as £200bn, according to investment bank UBS - double the most aggressive estimates. Alastair Ryan, UBS banks analyst, has calculated that "the take-up could be £200bn or more," reports the Telegraph.

Lonmin sought to bolster its defence against Xstrata's $10bn (£5.6bn) takeover approach yesterday by suggesting that the company valued its own stock at about £7 a share more than the hostile proposal. The world's third-biggest platinum producer urged investors not to accept Xstrata's £33-a-share proposal, which was made last month, writes the Independent.

A firm offer for Informa is possible within days after private equity giant Blackstone joined a consortium led by Providence Equity Partners attempting to buy the business and academic publisher. The bolstered consortium, which also includes Carlyle Group, is understood to have secured financing for the deal, including a £1.5bn debt package from a group of approximately 12 banks, reports the Telegraph.

Qinetiq, the defence research group, is on Wednesday expected to announce it has won a 15-year contract from the Ministry of Defence to secure critical ship and submarine testing facilities in the UK. Under the £150m contract, called the Maritime Strategic Capabilities agreement, the two parties will commit to a significant investment in Qinetiq’s facilities, in particular submarines, reports the FT.

As Commerzbank’s plans for the acquisition of Dresdner Bank – and its investment banking franchise Dresdner Kleinwort – take shape, potential buyers for the respected British core of that franchise are emerging. Collins Stewart, the stockbroker, is considering an approach for the UK advisory, capital markets and equity trading businesses of Dresdner Kleinwort, according to people familiar with the broker’s thinking. Others, too, may ponder a carve-out of the old Kleinwort Benson business, writes the FT.

The London hedge fund run by billionaire activist investor Chris Hohn has joined forces with a US-based fund in a dramatic move to reverse the flagging value of Deutsche Börse, the German stock exchange group. Mr Hohn's fund, The Children's Investment Fund (TCI), and Atticus Capital said they could push for an overhaul of the Deutsche Börse supervisory board among potential measures to revive the company's fortunes, reports the Telegraph.

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