IMF muses about global recession by Christmas; inquiry finds level of corruption at Wollongong Council in NSW was "without precedent"; contempt on show at debate by presidential candidates.
Australia
The Daily Telegraph reports Prime Minister Kevin Rudd has reassured Australians that the nation would survive the global economic ravaging, as Washington admitted it would batter the US for years to come.
The Sydney Morning Herald says the International Monetary Fund has warned there's a better than ever chance the global economy will be in recession by Christmas. The paper also reports a public enquiry has found the level of corruption at Wollongong Council in NSW was "without precedent".
Britain
Another day of drama on the financial markets means another day of dramatic front pages. The Daily Mail says the biggest nationalisation of modern times will be announced with a Stg 50 billion state rescue of "crumbling high street banks"
The Daily Telegraph calls it the "day of reckoning".
And The Mail reports on the "podestrian" people - those with iPods or other digital music players glued to their ears who apparently have a habit of stepping out into busy roads, oblivious to the traffic - causing accidents.
The United States
The Los Angeles Times describes Wednesday's debate by presidential candidates in Nashville as "often testy" and says the candidates "made little effort to hide their seemingly mutual contempt."
The Wall Street Journal reports it had "more sharp edges" than the first encounter.
The New York Times leads with the latest downturn in the markets, and says investors kept their fingers firmly on the sell button throughout most of the day, even after the chairman of the Federal Reserve suggested a cut in interest rates was on the way.
Asia
The Straits Times reports the toll of Chinese children ill from toxic milk formula may have nearly doubled since the last public count issued by the Ministry of Health, but officials say the number of new cases is falling.
