A look at economic developments around the globe

AP News
Posted: Dec 17, 2009 1:06 PM

A look at economic developments and activity in major stock markets around the world Thursday:


COPENHAGEN _ U.S. Secretary of State Hillary Rodham Clinton sought to put new life into flagging U.N. climate talks, announcing the U.S. would join others in raising $100 billion a year by 2020 to help poorer nations cope with global warming.

She made the offer contingent on reaching a broader agreement at the 193-nation conference that covers "transparency," a reference to U.S. insistence that China allow some international review of its actions controlling emissions of carbon dioxide and other greenhouse gases.

China followed by saying it is willing to provide explanations and clarification on its actions to control carbon emissions, going some way to meeting the U.S. demands.

The diplomatic duel between Washington and Beijing has marked the two weeks of climate talks, which ground to a near-halt Wednesday as a chronic rich-poor divide flared into the open again, dimming the hopes of the Danish hosts for a comprehensive deal _ a preliminary framework for a formal treaty next year on combating climate change.


PARIS _ New airline safety standards may be required after the crash of Air France Flight 447 cast doubt on the reliability of speed-measuring equipment in difficult, stormy conditions, French aviation investigators said.

The Airbus A330 plunged into the Atlantic Ocean off Brazil's coast en route from Rio de Janeiro to Paris on June 1. All 228 people aboard were killed.


LONDON _ Markets in Europe dropped amid ongoing worries about public finances in Greece. The FTSE 100 index of leading British shares closed down 1.9 percent at 5,217.61 while Germany's DAX fell 1 percent to 5,844.44. The CAC-40 in France fell 1.2 percent, to 3,830.82.


TOKYO _ Stocks in Asia fell after the U.S. Federal Reserve signaled it would start undoing some of its emergency supports next year. The Nikkei 225 stock average shed 0.1 percent to 10,163.80, Hong Kong's Hang Seng slid 1.2 percent to 21,347.63, South Korea's Kospi dropped 1 percent to 1,647.84 and Shanghai's market tumbled 2.3 percent to 3,179.08. Markets in Taiwan, Singapore and Indonesia also fell.

Australia's market bucked the trend, adding 0.2 percent.