sell off

a significant stake in their club on the Singapore stock exchange to help pay off debts. A source says the club hopes to raise as much as $1bn.

World News from the BBC

Share prices in Europe and the United States have again fallen

sharply

. When European trading closed, shares were down by 4.4% in London and 5.8% in Frankfurt. European banks fared

particularly

badly. The main index in the US was also down by 5% at one stage, affected by the publication of poor economic data.

About 20,000 mourners have attended a memorial service for three men killed last week during the outbreak of rioting and looting in England last week. The men were hit by a car as they tried to protect shops and homes from looters in Birmingham. Sam, a family friend of one of the three men, described the feeling amongst those attending.

"...hit all of us very hard. A young man and his life just taken like that, it's so

tragic

. It's about paying respect for the family, and I think we all need to be very

mindful

of that. They need some peace now. It's not a divide about race, and it shouldn't be, but I do feel it has brought us closer together. People are looking out for each other."

The Mexican navy says it's holding five people in connection with the disappearance earlier this month of four naval personnel. Investigators said they had found items belonging to the three marines and a naval cadet in a cellar in the port city of Veracruz. Forensic experts are examining what they say could be four graves at the same property. The Mexican navy has played a growing role in President Felipe Calderon's campaign against drugs cartels.