"We are going to see lower levels of consumer spending in the US and the UK for at least 6 months," Bob Parker from Credit Suisse said Tuesday. He sees consumers switching to lower-margin products, lending to added pressure on high-end retailers.

2009 may not be shaping up to be the "year of recovery" that investors expected, as Sandy Jadeja from ODL Securities, sees stocks and commodities both being weaker this year.

Investors can take their minds of the financial doom and gloom with a look at what the year will bring in terms of sporting highlights. Chris Shillington from IG Sport has the details.

German Chancellor Angela Merkel is under pressure at home and abroad to do more to lift Germany out of recession. Charles Dumas from Lombard Street Research has more.

The dollar looks set to recover further against the yen throughout the week, Max Knudsen, director of PIA - First.com told CNBC Monday.

Chancellor Angela Merkel met with German ministers, business executives and labor leaders Sunday to discuss a second stimulus package worth up to $64 billion. Stefan Bielmeier from Deutsche Bank has more.