Japan's economy has entered its first recession since 2001 after shrinking by 0.1% in the third quarter. The world's second-biggest economy had previous shrunk by 0.9% in the April to June quarter.
The head of the International Monetary Fund says it will need more funding if it is to play a bigger role in aiding a global economic recovery.
China's industrial output hit a seven year low as the global economic slowdown continues to batter the world's fourth largest economy eroding demand for Chinese exports.
British Prime Minister Gordon Brown claimed Saturday that world leaders had backed his blueprint for combating the global slowdown. He said they had agreed to fiscal measures to stimulate the economy - likely to mean increased government spending and cuts in taxes.
Global leaders at the G20 financial summit in Washington have pledged to work together to restore global growth. They said they were determined to work together to achieve needed reforms in the world's financial systems.
The Canada Food Inspection Agency says a British Columbia feed manufacturer is the most likely source of the country's 13th case of mad cow disease.
Iran's OPEC governor, Mohammad Ali Khatibi, is calling on the oil cartel to cut production by a further 1 to 1.5 million barrels per day when it meets in Cairo later this month.
The Academy Award-winning actress and activist Charlize Theron has been designated by UN Secretary-General Ban Ki-moon as a United Nations Messenger of Peace, with a special focus on ending violence against women.
Leaders of the world's 20 largest economies have agreed to work together to restore economic growth and reform the world's financial system.
Japan will propose at the upcoming Group of 20 Washington summit the doubling of the current 340 billion dollars provided to the International Monetary Fund to help strengthen its capacity to address financial crises and is willing to pledge 100 billion US dollars of its reserves, according to government sources in Tokyo.