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Economy
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![Sarkozy, left, and Barroso, centre, helped arrange the Washington summit with George Bush [AFP]](http://mwcnews.net/images/stories/France/1/2/3/4/Sarkozy-Barroso.jpg "Sarkozy, left, and Barroso, centre, helped arrange the Washington summit with George Bush [AFP]") | | Sarkozy, left, and Barroso, centre, helped arrange the Washington summit with George Bush [AFP] |
European Union leaders have reached a "pretty detailed common position" to take to an international summit in Washington next week on the financial crisis, Nicolas Sarkozy, the French president, has said.
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Tags: finance summit European Union
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Economy
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 | | Ford is set to cut 10 per cent of its US workforce |
The US unemployment rate has risen to its highest level since 1994 after employers cut 240,000 jobs in October, a new US government report has revealed.
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Tags: US unemployment
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Economy
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![Sarkozy, left, proposed the EU meeting to prepare for a global summit in Washington DC [AFP]](http://mwcnews.net/images/stories/UK/2/3/4/5/6/7/B-Sarkozy.jpg "Sarkozy, left, proposed the EU meeting to prepare for a global summit in Washington DC [AFP]") | | Sarkozy, left, proposed the EU meeting to prepare for a global summit in Washington DC [AFP] |
European Union (EU) leaders are gathering in Brussels to prepare a common line on how to tackle the financial crisis which they will present to a global summit in Washington on November 15.
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Tags: economic plan European Union
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Economy
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![Recession fears continue to plague markets across the world [Reuters]](http://mwcnews.net/images/stories/Economy/1/2/3/4/5/6/7/8/Asian-regain.jpg "Recession fears continue to plague markets across the world [Reuters]") | | Recession fears continue to plague markets across the world [Reuters] |
Asian markets have regained some ground after falling sharply in early trade on Friday.
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Economy
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![The cut gave a brief boost to UK and European stocks but gains quickly faded [AFP]](http://mwcnews.net/images/stories/UK/2/3/4/5/6/7/interest-rates.jpg "The cut gave a brief boost to UK and European stocks but gains quickly faded [AFP]") | | The cut gave a brief boost to UK and European stocks but gains quickly faded [AFP] |
The Bank of England has slashed its key lending rate by 1.5 percentage points to three per cent as economic indicators show Britain heading towards recession.
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Tags: Bank of England UK interest rates
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Economy
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![Ukraine's overheated economy has suffered from the effects of the global financial meltdown [AFP]](http://mwcnews.net/images/stories/Economy/1/2/3/4/5/6/7/8/Ukraine-financial.jpg "Ukraine's overheated economy has suffered from the effects of the global financial meltdown [AFP]") | | Ukraine's overheated economy has suffered from the effects of the global financial meltdown [AFP] |
The International Monetary Fund has approved $16.4bn in emergency funding for Ukraine to stabilise the nation's economy.
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Tags: IMF Ukraine financial aid
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Economy
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![Obama's victory may mean tighter regulation for industries such as oil and gas [AFP]](http://mwcnews.net/images/stories/Economy/1/2/3/4/5/6/7/8/oil-gas.jpg "Obama's victory may mean tighter regulation for industries such as oil and gas [AFP]") | | Obama's victory may mean tighter regulation for industries such as oil and gas [AFP] |
Asian markets have fallen sharply, taking their cue from Wall Street's overnight plunge.
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Tags: Asian markets Recession
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![The G5 finance ministers met in Sao Paolo on Friday to formulate a common strategy [AFP]](http://mwcnews.net/images/stories/Economy/1/2/3/4/5/6/7/8/G5-finance.jpg "The G5 finance ministers met in Sao Paolo on Friday to formulate a common strategy [AFP]")
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