Daily News Channel
The world’s richest countries committed to "any further action that may prove necessary" to restore confidence in the global financial system, their finance ministers said as they wrapped up a two-day meeting in Rome. The Group of Seven finance ministers also urged countries not to close their markets to goods and services from abroad. “An open system of global trade and investment is indispensable for global prosperity,” they said in a statement at the end of their meeting Saturday.
Making his international debut at the Group of Seven meetings in Rome, new U.S. Treasury Secretary Timothy Geithner said swift and decisive action is needed on several levels to address the global financial crisis. “Although this crisis began in the major economies, it’s now spread to emerging markets around the world,” Geithner said
Bucking tradition, U.S. Secretary of State Hillary Clinton will bypass Europe and travel to Asia on her maiden voyage overseas, diplomats familiar with the planning said Tuesday. Clinton is expected to visit China, Japan and South Korea on her first trip overseas.
It is an unwritten rule of all World Cups: if the host nation fails on the pitch, interest in the competition dies off the pitch. As the 500 day countdown to the 2010 World Cup begins, most commentators have focused on South Africa’s preparedness, with the country’s vast unfinished stadiums causing concern in some quarters. But far more worrying for the country’s fans is the state of the national football team
Secretary of State Hillary Clinton could appoint a special envoy for North Korea before leaving for Asia next week, senior administration officials told CNN.
As fires smoldered and sometimes raged across sections of the scarred landscape Tuesday, rescue officials in Victoria attempted to offer solace to hundreds burned out of their homes and frustrated at being unable to return. Tent cities sprung up around Whittlesea, just north of Melbourne, as relief agencies pitched camps for those forced out of their homes
Nissan, Japan’s third-largest automaker, announced a series of steps Monday to deal with the economic downturn, including slashing its workforce by 20,000.