Iceland moves to shore up economy

Growth figure points to US gloom
The US economy contracted at an annual rate of 0.5% from July to September, according to revised official data.

UK to suffer 'severe' recession
The OECD says that the UK will suffer a deeper recession than any other major economy in 2009.

IMF approves loan to aid Pakistan
The IMF approves a loan for Pakistan, amounting to $7.6bn (£5.1bn), to shore up the economy.

Obama pledges 'jolt' to economy
President-elect Barack Obama promises the rapid implementation of measures to stimulate the ailing US economy.

Saudi Arabia cuts interest rate
Saudi Arabia cuts a key interest rate to boost the economy, while stocks drop to a five-year low.