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Today's News
News Summary: IMF warns Britain more growth needed
2 hours, 12 minutes ago
RECOVERY PUSH: The International Monetary Fund called on Britain to do more to stimulate economic activity, urging a speed up in infrastructure investment that could create jobs. BAILED OUT BANKS: The IMF also urged the government to develop a strategy to privatize two banks which received government funding to stay afloat. Government plans to return the Royal Bank of Scotland and Lloyds to private ownership remain unclear.
Glaxo, US partnering to develop new antibiotics
2 hours, 12 minutes ago
GlaxoSmithKline PLC says it's starting an unusual collaboration with the U.S. government to develop several antibiotics for both bioterrorism threats and bacterial infections resistant to current medicines. Glaxo's partnership with BARDA, the Biomedical Advanced Research and Development Authority within the Health and Human Services Department, will bring the British drugmaker $40 million over the first 18 months. If their agreement is renewed over five years, that could reach a total of $200 million.
News Summary: Japan's economy 'picking up'
2 hours, 12 minutes ago
SIGNS OF LIFE: Japan's central bank says the world's third-biggest economy is "picking up" as demand recovers in other countries and remains resilient at home. DEFICT SURGE: Japan's economy grew 3.5 percent last quarter, but progress in increasing exports and boosting corporate investment and wages has lagged. The trade deficit jumped nearly 70 percent over a year earlier to 879.9 billion yen ($8.6 billion) in April, according to preliminary Finance Ministry figures.
College fossil-fuel divestment movement builds
2 hours, 18 minutes ago
In an effort to slow the pace of climate change, students at more than 200 colleges are asking their schools to stop investing in fossil fuel companies. The students say it's hard for colleges and universities to ignore the arguments when scientists are teaching classes about the threats of climate change, and when the core mission of such institutions is to prepare young people for the future.
