FT economics headlines

Stagflation fears: Venezuela slips into recession with 4.5% drop in growthIndonesian rupiah drops sharply on fears of capital controlsS&P quits Australia before changes to rating agency legal liabilityUS new house building drops 10.6% in OctoberObama warns of double-dip recession if public debt not addressedCongress backs tougher bill to break up banksMandelson signals end of little-used £5bn credit scheme“Baffled squared”: trader reaction to proposals for centralised forex clearingSlightly hawkish: minutes show BoE split on QE decision
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