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The launch of Russia's stock markets in the early 90s and privatization of state assets has profoundly impacted Russian society. As the case of mining giant Norilsk Nickel illustrates, this experiment has given rise to both immense personal wealth for a new elite, and economic uncertainty for the ordinary citizen.

Now come the second thoughts on globalization, as never before have world markets been so integrated. The current financial crisis could mark the start of an effort to overhaul the global financial system conceived at the 1944 summit in Bretton Woods, N.H., which set the rules of international commerce for industrial countries.

In fresh efforts to stem persisting turmoil in the credit markets, the US Treasury Department is considering partial nationalization of numerous U.S. banks. Insurance giant A.I.G. will also receive a further injection of $37.8 billion.

The Defense Department will pay private U.S. contractors in Iraq up to $300 million over the next three years to produce news stories, entertainment programs and public service advertisements for the Iraqi media in an effort to "engage and inspire" the local population to support U.S. objectives and the Iraqi government.

The Defense Department said this week that it wants to sell as many as 75 fighter jets to Israel in a $15.2 billion deal for the aircraft expected to be the mainstay of air power in the United States and several other nations for decades.

Three workers in South Africa died after three separate mining incidents as miners at AngloGold Ashanti's TauTona mine stopped work over a fatality there last week, union and company officials said on Thursday.

The administrators of Lehman Brothers' European division have cut 750 jobs at the firm with immediate effect.

Trillions of dollars' worth of oil are present, but the environmental costs are high, too - and growing.

The federal government has filed a $7 million lawsuit against Bradley Mining Company, in an attempt to recover costs it says the Forest Service and Environmental Protection Agency incurred cleaning up arsenic-laden mining waste.