Europe and Britain
Equities in Britain, Germany and France were lower for the second week as investors worried about the possibilities of more accounting irregularities. Another high profile bankruptcy with suspect accounting jarred holders of technology and telecommunications stocks. But there was a ray of sunlight Thursday when promising third quarter results lifted the telecommunication sector and offset losses in oil and other technology stocks. The Bank of England's broadly expected decision to keep rates on hold reassured investors about the health of the British economy. However, Wall Street's poor performance most of the week didn't help European and British markets, which tend to take their cue from the U.S.

Asia
At last both the Japanese Topix and Nikkei rose on Thursday and Friday after sinking to 17- and 18-year lows, respectively. Calls for the Japanese government to rescue the country's ailing banking system with another injection of public money are reaching a crescendo, and gave a boost to the country's flailing stock market. Japan's benchmark Nikkei rose for the first time in six sessions and bank shares soared, as the vice finance minister and the head of the country's biggest business lobby suggested Japan might benefit from a bank bailout. Investors, worried that the country's financial system could pull down the tottering economy, were encouraged by the bailout talk. There was also speculation that the government may decide to inject 10 trillion yen ($74.8 billion) into lenders.

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