US political leaders met on Thursday to discuss the Bush Administration’s 700 billion dollar bail-out plan to revive the finance sector. The talks involved presidential candidates John McCain and Barack Obama. After several hours of discussion, however, members of congress said more work was needed before a decision could be reached. The proposal is targeted at getting bad debt off the books of finance firms—a situation that has triggered a global credit crisis.
The deputy leader of South Africa’s ruling African National Congress (ANC) party, Kgalema Motlanthe, has been sworn in as president, replacing Thabo Mbeki. Mbeki announced his resignation on Sunday amid claims, which he denies, of political interference in a corruption case against the ANC leader, Jacob Zuma. The departure had led to a flurry of 11 cabinet resignations, although Motlanthe retained key cabinet figures such as the finance minister, Trevor Manuel.
The first cell phone with Google software, called the G1, was unveiled Tuesday at a news conference in Manhattan. The G1 is Google’s way of getting into a market dominated by the iPhone and the BlackBerry. It has a touch-screen design similar to the rival iPhone. Unlike the iPhone, however, the device also has a separate keyboard that can be pulled out to write text messages and e-mails. The phone goes on sale Oct. 22 and will cost $179 with a two-year contract.
A recent global assessment by the Zoological Society of London (ZSL) found that a third of all amphibians were at risk of being extinct by 2050. They cited climate change, habitat destruction and disease as the main factors threatening the species’ long-term survival. Scientists said creatures in Italy and Iberia were at most risk.
The 61st session of the United Nations General Assembly began this week. One key issue discussed was the stalled Middle East peace process; Kofi Annan and the Middle East diplomatic quartet—the U.S., Russia, the EU and UN—met to discuss how to revive negotiations. Other key issues discussed have included Iran’s nuclear ambitions, Global Terrorism, North Korea, and who will succeed Kofi Annan when he stands down as secretary general at the end of this year.