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Pope leads pep rally at Vatican, meets with Merkel

Pope decries more concern over banks than people; leads Vatican rally, meets with Merkel
Frances D'Emilio, The Associated Press

VATICAN CITY - Pope Francis lamented that investment losses by banks trigger more alarm in the economic crisis than the struggle of people to feed their families, as he led a huge rally Saturday to invigorate the church's moral conscience, hours after he held talks at the Vatican about the economic crisis with Germany's leader.

Financial crisis lays seeds of 'dystopian future'

World Economic Forum warns that financial crisis is laying seeds of 'dystopian future'
Pan Pylas, The Associated Press

LONDON - The World Economic Forum warned Wednesday that the financial crisis that has gripped the global economy for the past few years is fueling resentment that could lay the seeds for a rising tide of protectionism, nationalism and social unrest.

In its assessment of the risks to the global economy, the Forum flagged a "dystopian future" for much of humanity that could wipe out the gains achieved so far by globalization and undermine a nascent economic recovery.

Wall Street futures edge lower on euro worries

US stock futures creep lower on worries about slowing German economy
The Associated Press

NEW YORK, N.Y. - U.S. stock futures are edging lower as worries about a recession in Europe are outweighing hopes that the U.S. economic recovery will gather steam and help corporate earnings.

Dow Jones industrial futures are down 26 points, or 0.2 per cent, at 12,363 on Wednesday. Futures for the broader S&P 500 index are down 0.3 per cent to 1,283. The Nasdaq composite is down slightly at 2,356.

Skyscraper boom may herald downturn

Pride cometh before a fall: Skyscraper boom may herald economic downturn
Erika Kinetz, The Associated Press

MUMBAI, India - A skyscraper building boom in China and India may be a sign of an impending economic correction in two of Asia's largest economies, according to a new report by Barclays Capital.

Barclays has mapped an "unhealthy correlation" between construction of the world's tallest buildings and impending financial crises over the last 140 years.

Today, China is home to half of the world's skyscrapers — defined as buildings over 240 metres tall — currently under construction.

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