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The Prime Minister Gordon Brown is in the US today in talks about the global economic crisis. He will meet Wall Street fund managers in an emergency summit to discuss how to protect savings and pensions during these tumultuous economic times.

This comes after President Bush's call to Americans to support a $700bn dollar bail out of financial markets to rescue the country from a major economic crisis. Downing Street reported that Brown "strongly welcomed" the President's proposal.

Earlier in the week Brown met with other world leaders to discuss ways in which to regulate and supervise the financial situation. His plan involves greater transparency and supervision of the global financial system.

 One of the main concerns to be tackled is the issue of food prices continually increasing whilst the economy simultaneously is on the downturn and the impact on global poverty. Brown is keen to bolster the Millennium Development Goals which were agreed in 2000 by 189 heads of state to tackle poverty and improve lives.
 
These goals include eradicating extreme poverty and hunger, achieving universal primary education, gender equality and combating major diseases such as HIV/AIDS and malaria. The Millennium Development Goals set out to achieve 18 targets by 2015. Despite the global economic crisis, Brown is insisting that developed countries need to do more to attain these goals.
 
At a visit to the UN summit today, Brown will reveal $3bn plans to support research into malaria and improving the availability of anti-malarial drugs for the developing world. The summit will also see a $2.9bn commitment to education and healthcare. Despite economic crisis in the UK, Brown is stressing the importance of continuing with the Millennium Development Goals.

French energy giants EDF agreed a £12.5 billion takeover of British Energy. EDF will pay 774p per share, a price 9p higher than the previously rejected offer which delayed the takeover by two months.

This takeover will give EDF control of all British Energy owned nuclear power stations and also includes the intention to develop further power stations in the UK. EDF plan to build four new nuclear reactors for the existing power stations as many of the current reactors are old and will be shut down within the next 15 years.

In addition to these plans, Centrina, owner of British Gas is said to be in talks to take a 25% share of the power generated by EDF in the UK.  EDF is already established in the UK as a provider of energy to more than five million customers.

This takeover signals an important change in the way energy is managed in the UK, indicating a move away from dependence on natural energy resources such as oil and coal. It also means a reduced dependence on imported gas. Prime Minister Gordon Brown commented: '"This deal is good value for the taxpayer and a significant step towards the construction of a new generation of nuclear stations to power the country."

The takeover is likely to be controversial, as a largely French-owned company takes over control of British Energy and the future of energy production in the UK. Despite this, the move provides a much-needed cash injection into nuclear energy in the UK and will provide thousands of jobs.