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Economy
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By Agencies
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![Haarde is confident that with IMF help Iceland's economy will improve by 2010 [EPA]](http://mwcnews.net/images/stories/Europe/a/1/2/3/Haarde.jpg "Haarde is confident that with IMF help Iceland's economy will improve by 2010 [EPA]") | | Haarde is confident that with IMF help Iceland's economy will improve by 2010 [EPA] |
Iceland has secured nearly $5bn in loans as it attempts to stabilise an restore faith in its shattered economy.
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Economy
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By Agencies
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![The troubled retailer has confirmed that it is in talks about a possible sale of its retail business [EPA]](http://mwcnews.net/images/stories/Europe/a/1/2/3/Woolworths.jpg "The troubled retailer has confirmed that it is in talks about a possible sale of its retail business [EPA]") | | The troubled retailer has confirmed that it is in talks about a possible sale of its retail business [EPA] |
Woolworths Group PLC's shares have fallen 32 per cent after the UK's high-street company confirmed it is considering selling its retail business.
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Tags: Woolworths UK shop
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Economy
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By Agencies
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![Hu Jintao, China's president, is in Peru ahead of the annual summit of Apec nations [EPA]](http://mwcnews.net/images/stories/China/A/1/Hu-Peru.jpg "Hu Jintao, China's president, is in Peru ahead of the annual summit of Apec nations [EPA]") | | Hu Jintao, China's president, is in Peru ahead of the annual summit of Apec nations [EPA] |
The presidents of Peru and China have reached agreement on a free-trade pact - the latest in a raft of deals China hopes will secure access to much-need raw materials for its manufacturing industries.
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Economy
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 Henry Paulson, the US treasury secretary, has defended his management of the recent $700 billion government financial bailout, saying the funds were "not a panacea" to cure the country's economic problems.
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Tags: Paulson US bailout
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Economy
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By Agencies
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![Ford will remain the Japanese car maker's biggest shareholder with nearly 14 per cent [AFP]](http://mwcnews.net/images/stories/Economy/1/2/3/4/5/6/7/8/Mazda.jpg "Ford will remain the Japanese car maker's biggest shareholder with nearly 14 per cent [AFP]") | | Ford will remain the Japanese car maker's biggest shareholder with nearly 14 per cent [AFP] |
Struggling US car manufacturer Ford is to sell its controlling stake in Japanese firm Mazda in a bid to raise cash and stay afloat.
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Economy
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By Agencies
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 | | Citigroup has posted losses for the past four financial quarters |
Citigroup, one of the world's biggest banks, is to cut about 50,000 jobs as the bank struggles with heavy losses amid the current financial crisis.
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Tags: US banking Citigroup
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Economy
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By Agencies
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![Obama has said any bailout of the industry should not be unconditional [EPA]](http://mwcnews.net/images/stories/Personalities/1/2/3/4/5/6/7/8/9/Barack-Obama-m.jpg "Obama has said any bailout of the industry should not be unconditional [EPA]") | | Obama has said any bailout of the industry should not be unconditional [EPA] |
Funds from the $700bn US government bailout package for the financial system should not be used to aid America's troubled auto industry, the White House says.
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Tags: White House auto bailout
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Economy
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By Agencies
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![Yang was blamed for the failure of a deal with Microsoft [EPA]](http://mwcnews.net/images/stories/Economy/1/2/3/4/5/6/7/8/Yahoo.jpg "Yang was blamed for the failure of a deal with Microsoft [EPA]") | | Yang was blamed for the failure of a deal with Microsoft [EPA] |
Internet company Yahoo says that its founder, Jerry Yang, is stepping down as chief executive.
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