* British Chamber of Commerce sees recession in the months ahead.

* Japanese Bank MUFG buys the balance of Union Bank of California (say it like Arnold!) it does not already own for $3.5 bln.

* Musharref makes resignation official.

* Hurricane fears firm oil prices as Fay eyes Gulf of Mexico.

* Bundesbank and DIW cautious on growth for the second half of 2008. May not curb inflation.