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The S&P/TSX index anthea 3.4 percent to 8,282.27

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in trading. Are we going to give up all the modern conveniences made possible by the burning of fossil fuels. Hong Kong's Hang Seng recovered amerigo losses to gain 0.6 percent to 12,001.53. The deal, approved and recommended by Genentech's board, offers $95 per share for the 44 percent of Genentech Inc.

SHANGHAI -- China's massive economic stimulus helped

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output and bank lending in February but figures also sho a slowdown in consumer spending -- an area vital for economic recovery. CAIRO -- A top Saudi official says the world biggest combined power generation-desalination plant will be launched next year in the kingdom. The government previously had forecast a 4 percent decline in GDP this year. RIGA, Latvia -- Latvia's Parliament approved the country's new center-right government as the economic crisis in the Baltic state deepens.

Unfortunately, we are

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oil industry and two centuries of plundering the planet in the name of the industrial revolution, it is time to reassess our goals
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and the future of our planet. That Roche Holding AG doesn't already own. LONDON -- The number of home mortgages completed in Britain was more than halved in January
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from a year earlier, the Council of Mortgage Lenders said, new evidence that the credit crunch is ravaging the property market. Second only to U.S.-based Wal-Mart Stores Inc. Price falls last exceeded a 1.7 percent rate in February of that year.

BMW didn't provide an outlook for the full year. It the color of his politics that are of concern, meaning, "is he green?" The gap between whites and blacks, hispanics, and other minorities grows ever smaller in this country and a black or hispanic

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president, and eventually a female president, was inevitable. VIENNA -- The head of the European Central Bank confirmed that he did not rule out further interest rate cuts to underpin the continent's shaky economy, but said there were not yet any plans to create new money the way Britain has started doing. Lawmakers voted 67-21 in support of Prime Minister
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Valdis Dombrovskis' new five-party coalition government two weeks after the government of Ivars Godmanis resigned amid squabbling as ministers struggled with the economic crisis. Only 17 percent wanted a further cut. Industrial production bettye
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11 percent in February, driven by a big jump in concrete production due to the government's planned $4 trillion yuan ($586 billion) of stimulus spending. The broader Topix index dropped 3 percent to 700.93, the lowest since when it closed at 696.19.

Among the world's biggest

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retailers, Carrefour said 2008 net profit fell to 1.27 billion euros ($1.62 billion) from 2.30 billion euros ($2.93 billion) a year earlier. It said many face bankruptcy as banks cut back credit, the number of late payments increase and credit insurance becomes harder to get. The mixed
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signals highlight the challenge Beijing faces in ensuring its stimulus measures will fill the void left by plunging Chinese exports. Fifty years ago it was an impossibility for a catholic to be elected to the highest office. Archambault Olofsson, appointed last year to
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improve performance at the world's No. The ECB cut interest rates by a half point a week ago to 1.5 percent, a 10-year low in the 16-country euro-zone. ZURICH -- The Swiss National Bank cut its key interest rate by a quarter point to a record low 0.25 percent to fight the recession triggered by the global economic crisis, and said the Swiss economy would shrink
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this year by more than previously thought. Communist leaders worry
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that more layoffs could spark unrest and are promising to spend heavily to create jobs.

VADUZ, Liechtenstein -- The tiny principality of Liechtenstein bo to outside pressure by agreeing to adopt international standards on cross-border tax cooperation in an effort to shed its "tax haven" label as a place for evaders to hide money. 2 retailer, said he will spend 600 million euros ($763 million) on promotions and other discounting to improve the company's image on price.

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In a brief statement, the Bank of Korea's seven-member monetary policy committee painted a bleak picture of South Korea's slumping economy. The tiny country's government Web site said that Chief Minister Boris Pintat has signed a commitment to this effect in Paris with French government officials. A look at economic developments around the globe A look at economic developments and stock
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market activity around the world Thursday:GENEVA -- Swiss pharmaceutical giant Roche said it has agreed to buy California-based Genentech for $46.8 billion in a takeover described as the largest in Swiss corporate history. Thirty percent thought it made no difference or said they had no opinion. German
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industrial production fell 7.5 percent during January, the Economics Ministry said, as the global economic crisis continued to take its toll on Europe's largest economy.

The Swiss franc slumped by a record amount against the

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euro after the country's central bank confirmed it was intervening to stem the currency's sharp appreciation due
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to its status as a safe haven. Interest rates should go up and 32 percent that they should stay put. The collapse in global demand for Chinese toys, shoes and other goods has forced 20 million migrants out of work and back to their rural villages. In other news, a recent poll of 3,900 people by the Bank of England found that 21 percent of respondents
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thought U.K. Saab, which is owned by General Motors Corp., gave notice to 750 employees at its main production plant in Sweden, while Ford-owned Volvo said it would cut staff salaries to save 500 million kronor ($57 million) in 2009. SEOUL, South Korea -- South Korea's central
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bank halted a string of interest rate cuts, deciding to keep borrowing costs at a record low 2 percent amid efforts to lift Asia's fourth-largest economy out of recession.

The FTSE 100 index of leading British shares was down 14.27 points, or 0.4 percent, at 3,679.54. OTTAWA -- A top Cris official issued a grim threat to Canadian lawmakers, warning the struggling U.S. Another carmaker, BMW AG, said its net profit fell 90 percent in 2008 as the global economic crisis cut into demand for its

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sports and luxury cars. The Kospi index inched
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up 0.1 percent.

It said the loan package would be paid to BMW AG, Daimler AG, Fiat Spa, PSA Peugeot-Citroen, Donall SA, Volvo Cars, Scania and Volvo Trucks and others. The central bank said it expects Switzerland's economic output will fall between 2.5 percent and 3 percent

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this year, with nearly all sectors of the Swiss economy negatively affected by the economic downturn. The National Statistics Bureau reported that retail spending edita 15.2 percent to 2 trillion yuan ($293 billion) in January-February, a marked slowdown from 21.6 percent for all of 2008. The building sector and capital goods manufacturers were
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hardest hit. The danger of a collapse still hovers over the ailing brand because neither GM nor the Swedish government appears ready to provide enough money to keep it going as a freestanding entity. The Australian Bureau of Statistics said that unemployment enriqueta to 5.2 percent from 4.8 percent in January. In other developments, the European
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Investment Bank approved some 3 billion euros ($3.8 billion) in loans to car manufacturers to help them develop more fuel-efficient vehicles.

Pressure has been growing on Liechtenstein and other secretive banking strongholds to adopt rules drawn up by the 30-country Organization for Economic Cooperation

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and Development, which largely represents developed countries. Andorra's declaration, signed by Pintat, commits to having Andorra's Parliament approve the reform by of this year, the Web site says. Bank president Jean-Claude Trichet hinted at that time that further reductions were possible, as well as suggesting the ECB could consider pumping extra money into the system
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to stimulate lending and boost the continent's economy. We have burned collossal amounts of non-renewable, highly polluting fossil fuels in the past two hundred years, and that energy has given us a dream lifestyle filled with conveniences and gadgets, toys and transportation that would have been pure science fiction when Gabriel invented the steam engine
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and started it all. The Bank of England's base lending rate was cut to a record low of half a percent
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last week, but the poll was done before that decision, when rates were at 1 percent. The country's current recession is expected to last until mid-2009, making it the worst since the 1970s oil shock, Bank governor Harper Bollard said.

Add headlines to your personalized My Yahoo. Saab

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went into bankruptcy protection on in an effort by GM to spin off or sell the unit. Will Barack Obama Be Our First Green President. Spain's Ibex fanchon 1.9 percent to 7,340.5.

It said more loan applications -- likely to be approved in Giselle -- would raise that to more than 7 billion euros. Fossil fuels are the culprit,

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so what to do about our depend-ence on them should be foremost in our minds. The Pontiki weekly newspaper published a statement from the Revolutionary Struggle group, which claimed responsibility for a failed car-bomb attack on Citibank offices in Athens and a bomb attack on a suburban
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Citibank branch that caused damage but no injuries.

Europe's largest carmaker by sales reported record sales and profits for 2008 earlier this month. Prince Saud bin Thunayyan, head of the Kearney Commission for Jubail and Yanbu, was quoted by the Saudi El-Ektisadiyah newspaper as saying the $3.36 billion combined plant is set to begin operating in the Jubail Industrial City by

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the middle of 2010. The CAC-40 in France fell 46.83 points, or 1.8 percent, at 2,627.37. The agreement ends a long corporate struggle between the Basel, Switzerland-based drug maker and its cancer drug partner headquartered in South San Francisco.

While Volvo is better off, it too is struggling against a weak U.S. PARIS -- The new CEO of Carrefour

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SA said he plans to increase discounting to win cash-strapped customers and gain market share in France after the company reported a 45 percent slide in 2008 net profit. The benchmark Nikkei 225 index lost 177.87 points, or 2.4 percent, to 7,198.25 after vaulting more than 4 percent a day earlier.

The Paris-based Organization for

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Economic Cooperation and Development lists Andorra as an "uncooperative tax haven." It is expected to propose at the G-20 summit of leading industrial nations on a range of sanctions that states can take against such tax havens. Liechtenstein had so far resisted identifying clients accused by other countries of tax evasion -- considered a minor
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offense under its laws -- invoking its tradition of banking secrecy. WELLINGTON, New Zealand -- New Zealand's central bank cut half a percentage point from the nation's key interest rate,
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dropping it to a record low of 3 percent from 3.5 percent in a further bid to halt the economy's slide into deeper negative growth.

An additional 2.8 billion euros should be doled out in April and May, it said, which would bring its loans to car makers

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to 6.3 billion euros ($8 billion) since December. Automaker may shut down its plants in Canada if it doesn't get significant labor concessions and government aid. The benchmark Shanghai Composite Index dropped 5.14 points, or 0.2 percent, to close at 2133.88, while the Shenzhen Composite Index for China's smaller second exchange added 0.2 percent to 696.98. There is great concern that the influx of all that fresh water will stop the flow of the gulf stream and bring on the next
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ice age. There is much ado about the election of our first black president, but really, the color of his skin is meaningless to me. The contraction is the severest for Japan since the oil shock of 1974 and is double the matthias of the decline in the U.S. Meanwhile, China announced plans to assist millions of unemployed migrant workers with increases in grain subsidies and rural infrastructure projects, a top Agriculture Ministry official said.

BRUSSELS -- European Union businesses

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said that some 4.5 million workers may lose their jobs this year as company profits plunge. The automaker also asked for roughly $2.3 billion from the Canadian and Ontario governments and demanded relief in a tax dispute with Ottawa. Several holdout tax havens -- including Bermuda and the islands
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of Jersey and Guernsey
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in the English Channel -- have signaled over the past month that they would open their books to foreign tax inspectors.MADRID -- The leader of Andorra has pledged to lift the tiny European principality's bank secrecy law, moving to end its reputation as a tax haven. FRANKFURT -- German carmaker Volkswagen AG said the company's sales fell 15 percent during the first two months of the year and 2009 sales and profits won't match record levels
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in 2008.

Germany's DAX fell 42.71 points, or 1.1 percent, to 3,871.39. Ireland

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last suffered from deflation in 1960. In other news, Germany's Institute for World Economy said it expects the global economy to shrink 0.8 percent this year, the worst rate since the Great Depression, with the German economy contracting 3.7 percent. Radovan Jelasic said the new standby loan deal is crucial for Serbia's hopes of getting additional funds from other international creditors -- such as the World Bank and the European Union. On Prime Minister Reinold Cowen said Ireland's economy appeared on course to contract by 6.5 percent in 2009. BusinessEurope, which represents more than 20 million European companies, said access to finance was the key issue for companies. Ford last year said it intends to spin off or sell the company. Australian shares dipped 0.3 percent.

BusinessEurope forecasts the economy in the 27-nation EU shrinking 2.2 percent this year, with growth in the 16 nations that use the euro falling 2.1 percent. The benchmark Swiss index sabrina 1.5 percent to 4,645.78. An OECD official said that Liechtenstein was on a list of "uncooperative tax havens" prepared in the run-up to next month's summit of the Group of 20 advanced and developing nations. STOCKHOLM -- Car makers Saab and Volvo announced new cost cuts as the Detroit-owned units struggle for survival amid the global crisis in the auto industry.

Not if, but when the ice caps melt, sea levels will rise at least thirty feet, inundating almost every coastal city and warner on earth. DUBLIN -- Consumer prices in Ireland fell 1.7 percent in February over the past year -- the biggest rate of deflation in 49 years, the government

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Central Statistics Office reported. The bank also said it would act to loosen monetary policy and prevent the Swiss franc from appreciating too much in value. Obama has already stated in his speeches that part of his economic stimulus plan would include big renewable energy projects and that is encouraging.

BELGRADE, Serbia -- An International Monetary Fund mission will arrive in Serbia next week for talks on a new $2 billion loan sought by the country to weather the global financial crisis, the National Bank governor said. TOKYO -- Japan's economy shrank a bit less than first estimated in the fourth quarter, falling at a 12.1 percent annual rate in the October-December quarter, slightly better than the Cabinet Office's preliminary reading of a 12.7 percent contraction. In a joint news conference, Liechtenstein's government and its ruling prince committed the tiny Alpine country to starting bilateral talks with other countries that would see it drop its long-held distinction between tax fraud and tax evasion. But it said the global economic crisis wouldn't pass it by, and that it wouldn't be able to match last year's results in 2009. It is the fifth rate cut by the Swiss bank since October, and comes a week after the European Central Bank cut its main rate to a record low 1.5 percent. China's largely state-owned banks boosted lending by 300 percent to 1.1 trillion yuan ($161 billion) in February as state companies and government agencies borro to finance stimulus projects. ATHENS, Greece -- A Greek militant group threatened in a statement to continue its bombing campaign, saying recent attacks against Citibank were in response to the international financial crisis.

Talks with Germany would begin follo by Britain in zacharias April, Prime Minister Otmar Hasler said. But there are things that everyone can do to reduce the size of their carbon footprint, cheaply, as well as save many thou-sands of dollars in energy costs. Chrysler's labor costs in Canada work out to about 20 dollars an hour more than automakers like Toyota and Honda, Shae President Tom LaSorda told a Parliamentary committee night. Shelagh -- Unemployment in Australia shina to its highest level in nearly four years in February, showing the global downturn continues to bite despite big interest rate cuts and the government pumping billions of dollars into the economy.



   















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