U N proposes mix of private funds for climate aid
A UN panel led by Meles Zenawi and Jens Stoltenberg studies private and public sources to fund a 100 billion dollar yearly climate aid goal for developing nations by 2020. Ban Ki moon and Summers stress private finance is key, with a final report due in October outlining fund setup.
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Ethiopia
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Norway
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Mexico
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GE pledges 200 million for smart grid research drive
General Electric Co will provide 200 million to fund new R&D projects aimed at a more energy efficient grid. GE and four venture capital firms will seek ideas from entrepreneurs researchers and startups over 10 weeks with November awards.
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SAN Francisco General Electric Co
Feds close six banks in three states amid rising failures
Regulators shut down three Florida banks, two in South Carolina, and one in Michigan. The closures bring 96 U.S. bank failures this year, with an estimated cost of 1.335 billion to the deposit insurance fund. The pace surpasses 2009 and last year as bank losses mount on commercial property loans.
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Washington
Florida
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