Sterling plunges against dollar

The pound was down 5.2 cents to $1.486, its largest one day fall in percentage terms since sterling crashed out of the Exchange Rate Mechanism (ERM) in 1992.
Sharp falls in the FTSE 100 index - down 5.2% on Monday - also served to undermine the currency.
The pound was also down 3.5 cents against the euro, at 0.851 pounds.
The poor economic data increases the likelihood that the Bank of England will cut interest rates on Thursday.
HSBC confirmed on Monday it is cutting 500 jobs across the UK, while carmaker Aston Martin announced it will cut 300 full-time and 300 temporary jobs.
Mortgage approvals also fell in October, according to figures released by the Bank of England, suggesting house prices may fall even further.

Dutch magic mushroom ban in force

The Dutch government says the fungi, which contains the hallucinogenic ingredient psilocybin, can cause life-threatening behaviour.
Last year, a French girl jumped to her death from a bridge in Amsterdam after allegedly eating such mushrooms.
Owners of the shops that sell the fungi argue that their trade should be regulated, not banned.
The Dutch Association of Smart Shops fears the ban will put its members out of business.
It says there is not enough evidence to prove that the fungi are a danger to public health.
Mushroom-related incidents, requiring the emergency services, have doubled in the past few years, with most cases involving foreign tourists, mainly from Britain.
Many mix magic mushrooms with alcohol and cannabis.