Jacko residency to ease credit crunch?

Michael Jackson's summer residency at the O2 arena has been tipped to ease the economic crisis.

According to ticket website Seatwave, Jacko's 50-date tour could bring in £1 billion for the economy.

Chief executive of Seatwave Joe Cohen told BBC 6Music: "There's gonna be somewhere near on a billion pounds worth of economic activity brought to London through hotels, restaurants, shops, pubs, people coming to see Michael Jackson.

"It's the Michael Jackson economic stimulus package that the tax payer isn't paying a penny for."

Last week, Tito Jackson reportedly said that he would like to join his brother as part of a full Jackson 5 reunion during the residency which kicks off on July 8.