Thom talks with economist Lord Nicholas Stern about global warming. Check out www.thomhartmann.com for more information.

Connie Hedegaard, European Commissioner for climate action, on Saturday said that the deal reached at the COP16 global climate talks in Cancun, Mexico, was largely inspired by the fear of failure in the wake of the COP15 talks in Copenhagen a year earlier. One year ago in Copenhagen the COP15 global talks on climate change ended in disarray, with sharp divisions between developing and developed countries. This time around, at the 16th Conference of the Parties, the COP16 talks in Cancun Mexico, there was applause as the meeting ended on Saturday, even though the countries of the world did not manage to adopt a binding climate treaty amid a stalemate among the US, China and the European Union. The nations did agree on a package of climate initiatives, including billions of dollars in funding for poor countries. Developing countries are to come up with plans to cut their emissions in a worldwide effort to limit global warming to less than 2 degrees Celsius above pre-industrial levels. The agreement includes plans for a green fund and $100 billion a year. This will be funded by rich countries to help poor nations finance programs to cut emissions by 2020, and to cope with drought and other effects of global warming.

Johann Hari: The Deal We Dare Not Turn Down: Save This Rainforest, or Trigger Our Destruction
Ecuador’s government says that if the rest of the world offers just half of what the oil beneath their rainforest is worth — $3.5 billion — they will keep the rainforest standing and alive and working for us all.

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WikiLeaks exposes UPA’s cash for vote deal
A set of India-related diplomatic cables on the Indo-US nuclear deal released by the whistle-blowing website WikiLeaks, claims that an aide of Congress leader Satish Sharma had told a US diplomat that the party had paid crores to several lawmakers to ensure that they voted for the deal in Parliament.

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D.Boerse, NYSE near deal but dodging thorny issues
By Jonathan Spicer and Philipp Halstrick

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Antrix-Devas S-band deal headed for annulment
New Delhi: The controversy-ridden S-band deal between the Indian Space Research Oragnisation’s commercial arm, Antrix Corporation, and Devas Multimedia Private Limited is heading for annulment, the Government of India indicated on Tuesday.

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Can’t decide on Cairn-Vedanta deal within deadline: Oil Min
A day after the expiry of the deadline set by the Prime Minister’s Office, the Oil Ministry today said it cannot decide on giving approval to Vedanta Resources’ $9.6 billion acquisition of Cairn India within the fixed timeframe.

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U.S. says financing core part of Cancun climate deal
WASHINGTON (Reuters) – Despite tough economic times, rich countries must make good on short-term pledges of billions of dollars in financing to help developing countries tackle global warming, the U.S. climate envoy said.

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US, S.Korea clinch new trade deal
South Korean President Lee Myung-Bak (right), seen here speaking to US President Barack Obama prior to a press conference at the G20 Summit in Seoul, in November. The US and S.Korea sealed a new free trade …

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Rio/BHP deal may not go ahead
Indian shooters, archers, wrestlers sparkle Indian shooters yet again fired to glory, archers and women wrestlers joined the party and a gymnast created history with the first ever medal, taking the count to 34 at the Commonwealth Games here Thursday.

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