Stories for September 17th 2008
Contaminated milk poisons thousands of Chinese toddlers
More than 6.200 babies have fallen ill after drinking milk made from contaminated powder, Chinese Health Minister Chen Zhu announced. The figure is five times higher than previously announced.
“Financial bubble” of the last 25 years coming to an end
Billionaire investor George Soros has given his gloomiest assessment of the state of the US and world economies. Speaking with BBC business editor Robert Peston Soros said that the “acute phase” of the credit crunch may be over but effects on the real economy are yet to be felt.
US bails out AIG with 85 billion USD; takes 80% stake
In a bid to save financial markets and economy from further turmoil the United States government agreed Tuesday evening to provide an 85 billion US dollars emergency loan to rescue the huge insurer AIG.
Morales and Bolivian opposition scheduled talks for this week
Bolivian President Evo Morales and the governors who led a violent rebellion against his administration's reforms agreed on Tuesday on a road map to end the confrontation. Once all governors sign the round of negotiations is scheduled to begin Thursday.
Barclays interested in other Lehman Brothers assets and staff
Barclays PLC said Wednesday it may pick up some of Lehman Brothers assets and employees in Europe and Asia, on top of the British bank's deal to acquire key US operations from the failed investment bank.
UK sponsors consolidation of Lloyds TSB and HBOS
British bank HBOS confirmed it is in advanced talks with Lloyds TSB about creating a United Kingdom retail banking giant worth £30 billion. The UK government has also said it will overrule any concerns that competition authorities may raise, BBC Business Editor Robert Peston said.
World malnourished soar to 925 million with global food crisis
The way out of the global food crisis, which has plunged at least 75 million more humans into hunger and poverty, lies in increased agricultural production, FAO Director-General Jacques Diouf told Italy's Parliament on Wednesday.
Norway pledges one billion USD to protect Amazon rainforest
Norway has pledged one billion US dollars by 2015 to preserve the Brazilian Amazon rain forest, as long as South America's largest nation keeps trying to stop deforestation, visiting Norwegian Prime Minister Jens Stoltenberg announced in Brasilia.
Late starter 2008 ozone layer shaping to be a record
This year's ozone hole surrounding the Southern Hemisphere's pole is shaping up to be one of the largest ever, having already surpassed the size of last year's, according to the World Meteorological Organization.
China/USA agree on trade, food security and intellectual rights
Chinese and US delegations at the 19th meeting of China-US Joint Commission on Commerce and Trade (JCCT) reached this week several agreements on boosting trade ties at the Richard Nixon Presidential Library near Los Angeles, reports Xinhua the official Chinese news agency.
