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AHEAD OF U.N. CLIMATE CONFERENCE IN POZNAN-POLAND SENIOR LEGISLATORS TO ADDRESS TWIN CHALLENGE OF FINANCIAL AND CLIMATE CRISIS

Article from: US Fed News Service, Including US State News Article date: November 18, 2008

The International Bank for Reconstruction and Development issued the following press release:

Seventy senior legislators from across the Americas will gather in Mexico City November 21-23 to examine how to overcome the twin challenges of the global financial and climate crises. The meeting is intended to help facilitate dialogue among lawmakers ahead of negotiations between developed and developing countries on a draft global warming agreement ahead of the United Nations Climate Change Conference in Poznan, Poland, in early December.

Hosted by the Mexican Congress, this first meeting of the ...

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Björk: Iceland Must Heal Itself

Posted Oct 28, 08 4:25 PM CDT in World,  Business,  Opinion 

Björk: Iceland Must Heal Itself
Source: AP Photo/Jon Super

(Newser) – Given Iceland’s economic crisis, it would be madness to add to the country’s dependence on aluminum smelters, native singer Björk writes in the Times of London. In addition to environmental damage, lessons learned from the collapse of Iceland’s fishing industry should warn against putting “all our eggs in the same basket.” “If the price of aluminum falls—as it is doing—it would be catastrophic,” she writes.

“Usually I don't notice politics. I live happily in the land of music-making. But I got caught up in it because politicians seem bent on ruining Iceland's natural environment,” the singer notes. Instead of building more smelters, the country should rely on its penchant for “fearlessness” in innovation. “Let's use this economic crisis to become totally sustainable,” supporting smaller, greener companies, Björk writes.

Source: Times (UK)

More about:  Financial Crisis • music • environment • economic slowdown • Iceland • Bjork • sustainable development

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Real-World Financial Woes Worry Sports Owners

Off the field, most team records aren't promising

Wall Street Journal Wall Street Journal Jan 2, 09 1:09 PM CST
(Newser) - As investment portfolios dwindle and businesses suffer, more professional sports teams' owners are falling on hard times. League bosses worry that potential buyers, already an endangered breed, won't go for newly available teams because their primary businesses are foundering. Even the Cubs, one of MLB's few profitable franchises, can't find an owner, reports the Wall Street Journal . More »

More about:  MLB • Financial Crisis • NBA • NHL • NFL • economic slowdown • sports owner

ANALYSIS

How Iceland Went From Codfish to Meltdown

Country built a huge financial bubble based on a vulnerable currency

Wall Street Journal Wall Street Journal Dec 27, 08 11:18 AM CST
(Newser) - How did a chilly nation of cod fishermen play a key role in the world's crumbling financial markets? Seeking to avoid the boom-and-bust of fish catch, Iceland started by privatizing banks in the mid-1990s. It built a colossal banking system on a puny currency and attracted international deposits with high returns. Then the country went on a shopping spree. "I didn't really worry about money," said one banker, who is now laid off. More »

More about:  Financial Crisis • credit crisis • banking • bank failure • Iceland • financial meltdown • krona

Recession Has US Recycling Industry in Dumpster

Scrap fetching a fraction of the price it used to—if it's not cheaper to send it to landfills

New York Times New York Times Dec 8, 08 8:55 AM CST
(Newser) - With the economy tanking, recyclable material is selling like, well, trash. Mixed paper, which sold for $105 per ton as recently as October, now fetches $20-$25, the New York Times reports. “It’s awful,” said one recycling rep, who says her yard is packed with refuse that can’t be sold. “Either it goes to landfill or it begins to cost us money.” More »

More about:  Financial Crisis • China • environment • recycling • trash

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