2 Trillion pounds says the front of the Telegraph

The unprecedented global effort to try to avert the world financial crisis has cost governments more than two trillion pounds

says the paper.

The US authorities followed the UK and Europe by announcing an extraordinary plan to buy stakes in its biggest banks using taxpayers' money.
Although stock market volatility may continue over the next few weeks, City experts are hopeful that the co-ordinated bail-out will finally put a stop to the catastrophic stock market slump which threatened to bring down the financial system.

US bites the bullet with an 'aggressive' $250bn bank bail-out reports the Guardian

Under a programme described by President Bush as "unprecedented and aggressive", the US treasury will buy minority stakes in nine leading banks including Goldman Sachs, JP Morgan, Bank of America and Citigroup. Thousands of community banks will be eligible to follow.

The Times meanwhile leads with 10,000 jobs go as crunch hits the public sector

The Times has learnt that more than £900 million must be saved at the Ministry of Justice in the next two years, threatening initiatives that include Gordon Brown’s programme to tackle knife crime. The news comes as figures revealed that inflation hit a 16-year high of 5.2 per cent last month, driven by soaring gas and electricity bills.
Analysts predict that the spike will also blow a £3 billion hole in Britain’s welfare budget because the annual increase in pensions and benefits is pegged to the September figures. With most experts forecasting that unemployment will exceed government estimates, the bill for welfare payments is almost certain to rise further.

and the Telegraph predicts that

Official figures will show that the jobless total leapt by at least 30,000 to 1.75 million in the past three months, according to the TUC.
The increase would be the eighth successive monthly rise and would leave the number out of work higher than at any point since April 1999, when it stood at 1.76 million.
The quarterly rise could yet be higher than the TUC's prediction: in August alone, the number claiming Jobseekers' Allowance rose by 32,500.

Some good news on the front of the Express though

THE soaring cost of living is poised to ease up at last with record cuts in interest rates and a drop in inflation.
Economists last night predicted that the crippling surge in consumer prices may have finally reached its peak.
Inflation could fall below 1 per cent next year and interest rates could hit just 2.5 per cent, according to some City analysts. Their forecasts came despite official figures revealing that prices rose by 5.2 per cent last month, the highest inflation rate for 16 years

Both the Guardian and the Mail lead with the climbdown on Sats results,the former reporting that

The government yesterday abolished Sats examinations for 14-year-olds in a move triggered by the collapse of this year's marking process and a string of high profile reports critical of the tests.
The reforms mean pupils will no longer have to sit externally marked tests at the age of 14, but ministers have insisted that the more controversial tests for primary school pupils will continue.

Labour's school test fiasco says the Mail,After 12 years, ministers FINALLY do a U-turn and tear up SATs exams

Mr Balls's announcement cuts a swathe through the controversial testing system embraced enthusiastically by five previous Labour Education Secretaries after its introduction by the Tories 15 years ago.
It follows a marking fiasco this summer which heaped misery on thousands of pupils after results were delayed and inaccurately recorded.

The Indy leads with Storm over Big Brother database the paper says that

Early plans to create a giant "Big Brother" database holding information about every phone call, email and internet visit made in the UK were last night condemned by the Government's own terrorism watchdog.
Lord Carlile of Berriew QC, the independent reviewer of anti-terrorist laws, said the "raw idea" of the database was "awful" and called for controls to stop government agencies using it to conduct fishing expeditions into the private lives of the public

The American elections continue to get a loty of coverage,the Telegraph reporting that

John McCain's campaign is tying Barack Obama to an alleged massive voter fraud scheme conducted by a left-wing group linked to the Democratic nominee since his days as a Chicago community organiser.

Meanwhile the Guardian says that

Barack Obama has widened his lead over his Republican presidential rival John McCain to 14 points, according to a new opinion poll from the New York Times and CBS News.
The 53% to 39% gulf in the two main candidates' poll ratings suggests that Obama is continuing to capitalise from public anxieties prompted by the financial crisis. Detailed questions contained in the poll also indicate that McCain's strategy of launching increasingly personal attacks against his opponent have had an adverse effect, turning voters off McCain rather than sowing seeds of doubt in their minds about the Democratic nominee.

Most of the papers report that Murdered girl 'made desperate 999 call'

a teenage girl made a desperate 999 call as she was being driven away in a van by a man who went on to rape and murder her, a court heard yesterday.
Hannah Foster called the emergency services from her mobile phone in the hope that they would overhear the conversation she was having with the man and come to her aid. But the 17-year-old's call was automatically disconnected when the operator could not hear what she was saying. She was raped and strangled and her body dumped on a verge, where it was found two days later

The Mail reports how a Teenage girl 'gang raped and covered in burning caustic soda'

The attackers left the girl 'naked, screaming, crying and in a desperate state' as they ran away laughing, it was alleged.
They had picked on the shy 16-year-old because they claimed she was a 'dirty ho who was asking for it', a court was told.
The girl was left traumatised and severely disfigured by the attack.

The Sun leads with an exclusive

MADONNA and GUY RITCHIE are to divorce, The Sun can exclusively reveal.
A statement confirming their marriage is over has been prepared and is set to be released imminently.

Most of the papers report that

Aravind Adiga, a first time Indian author, has won the £50,000 Man Booker prize for a novel that examines "the dark side of India",

The Telegraph says that

He was presented with the award at a dinner in the Guildhall in London. The White Tiger follows a poor servant from an Indian village who moves to the city, becomes corrupted by modern life, and ends up becoming a murderer

Finally according to the Express

AS the credit crunch bites, more people are growing their own fruit and vegetables.
Demand for allotments has soared, with councils reporting a 10-year waiting list for a plot.One in 10 shoppers are opting for some degree of self sufficiency similar to that celebrated by the 1970s TV sitcom The Good Life, according to researchers