Daily News Channel
French President Nicolas Sarkozy wants a "real transformation" of international financial regulations out of this week’s G-20 summit in London, a spokesman said Tuesday amid reports that Sarkozy will walk out of the gathering if he’s not satisfied.
British Prime Minister Gordon Brown said Monday he believed world leaders would "rise to the challenge" at this week’s G-20 summit by agreeing firm measures to set about tackling the global financial crisis. Brown, who hosts Thursday’s meeting in London, has spent the past few weeks courting a succession of world leaders in a bid to persuade them to sign up to a package of proposals he has described as a “global new deal,” including tighter financial regulations and further government stimulus measures. But other leaders have distanced themselves from Brown’s agenda, with German Chancellor Angela Merkel apparently speaking for other European leaders when she expressed skepticism this weekend about the wisdom of pouring further public money into economies already in recession
This week’s London Summit brings together the leaders of the world’s 20 largest economic powers, known as the Group of 20, to discuss the global financial crisis and decide new measures to set the world on a more stable economic footing. British Prime Minister Gordon Brown, who hosts Thursday’s talks, has set a bold agenda for this year’s summit, calling on governments to sign up to a “global deal” to haul the world out of the crisis triggered by the collapse of the banking system.
The convenient and long-standing tradition south of the border is for Mexico to blame its problems on the U.S. It can often be justified when the matter is the drug-trafficking violence now terrorizing much of Mexico, which is powered in large part by the insatiable gringo demand for drugs, the relentless flow of high-powered weapons from the U.S.
Four Colombian soldiers are dead and six are missing after a firefight with Marxist guerrillas, Defense Minister Juan Manuel Santos said Tuesday. In his second prime time news conference, Obama called on Americans to look to the future with a “renewed confidence that a better day will come.” “We will recover from this recession,” the president said
President Obama said Tuesday "there are no quick fixes" to pull the economy out of recession, but he insisted the country will recover. In his second prime time news conference, Obama called on Americans to look to the future with a “renewed confidence that a better day will come.” “We will recover from this recession,” the president said.
Politicians don’t usually like being interrupted during interviews. But sometimes it’s worth making an exception. During a sit-down conversation with TIME last week, British Prime Minister Gordon Brown happily broke off to read a faxed letter handed to him by an aide.
Workers’ unions launched 24 hours of strikes across France Thursday to pressure the government to do more to combat the economic downturn. Workers from the public sector, schools, and the transportation sector walked off the job along with some air traffic controllers. That was affecting air travel, particularly domestic flights
Madagascar’s military handed over the reins of the island nation to opposition leader Andry Rajoelina on Wednesday, ending a two-month long political crisis — but apparently creating a constitutional one. Rajoelina, a former disc jockey turned mayor of Madagascar’s capital, declared himself president of a transitional government and his supporters pledged to hold elections in two years. But Rajoelina, at 34, is six years too young to be president, according to the country’s constitution.
There’s an uproar about whether the government should let AIG fail, a debate re-energized by the latest revelation of bonus payments going to AIG’s executives. In fact, there’s a good case to be made that AIG should fail, and it has nothing to do with bonuses. The rescue of AIG is warping the banking system and unnecessarily extending the credit crisis.