New York  - The world's 20 most advanced economies should discuss investment of 1 per cent of global gross domestic product - about 750 billion dollars - into five sectors to build an environmentally sustainable global economy, the UN Environment Programme (UNEP) said Thursday.

Such an amount could finance a "Global Green New Deal," drawing on the idea of the New Deal launched by US president Franklin D Roosevelt to help put an end to the Great Depression in the 1930s.

London  - Britain's 2010 International Motor Show has been cancelled in view of "unprecedented challenges" faced by the motor industry in the current recession, the Society of Motor Manufacturers and Traders announced Thursday.

Paul Everitt, chief executive of the industry body said it had been difficult to commit carmakers to the event amid continuing economic uncertainty and plunging profits as a result of plummeting car sales.

Washington  - A key gauge of US economic performance fell in February after rising slightly in the previous month, according to a private research group on Thursday.

The New York-based Conference Board's index of 10 leading economic indicators slid 0.4 per cent on unemployment claims, weak stock markets and consumer confidence.

The increase in January was revised downward to 0.1 per cent, while December was revised to a decline of 0.1 per cent from an earlier increase.

Washington - The US Federal Reserve, in a drastic new effort to keep the financial sector afloat, said Wednesday it would buy up more than 1 trillion dollars in Treasury and mortgage-backed securities.

Surprising many analysts, the US central bank said it would buy up to 300 billion dollars in long-term Treasury securities over the next six months and another 750 billion dollars in mortgage-related assets at the heart of the financial crisis.

Washington  - The US Federal Reserve

Athens - The Greek government on Wednesday froze the salaries of public sector employees earning more than 1,700 euros (2,208 dollars) per month in an effort to rein in public spending.

"The decisions we announce today are difficult," Finance Minister Yannis Papathanassiou said.