IN BRIEF (Page 16)

Oz to face recession

Australia faces its first recession since 1991 as prices fall next year for iron ore and coal, the nation's largest exports, according to JPMorgan Chase & Co. The economy will contract in the six months through March as weakening export growth prompts companies to postpone or cancel investment plans, said Stephen Walters, JPMorgan's chief economist in Sydney.

Hypo asks for 15b euros