IMF warns of further recession risks

Banks round the world have still to reveal about half of their likely losses resulting from the financial and economic crisis, the International Monetary Fund said on Wednesday, warning that there was still a “significant” risk of another downward lurch in the global recession. The IMF described credit risks as remaining “elevated” even though financial conditions have improved significantly since spring.

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Clintons share stage, kiss during global initiative event

One of America’s pre-eminent political power couples made a rare joint appearance Friday, when Bill and Hillary Clinton took the stage at the former president’s Clinton Global Initiative conference. “I want to begin by expressing my extreme indebtedness to the Clinton Global Initiative, to all of you who participated, for giving me the first chance I have had in a week to see Hillary,” Bill Clinton told the audience of social activists and business leaders at the closing session of CGI, a week-long conference designed to find solutions to global problems through public and private partnerships.

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Britain to scale back Trident nuclear program

Britain wants to scale back its Trident nuclear deterrent program by cutting the number of missile-carrying submarines from four to three, Foreign Secretary David Miliband said. British Prime Minister Gordon Brown will formally announce his readiness to scale back Trident when he speaks to the U.N.

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Obama warns global recession makes climate change fight harder

President Obama warned Tuesday that the global economic recession could hinder the ability of countries to take necessary steps to combat climate change. “We seek sweeping but necessary change in the midst of a global recession, where every nation’s most immediate priority is reviving their economy and putting their people back to work,” Obama told a U.N

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