financial leaders

The world's largest banks have agreed to overhaul the way they do business. The new rules will require banks bolster assets against debt and other investments, something that may cut into profits.

Financial leaders reached the agreement at a meeting in Switzerland. It still needs to be approved by G-20 nations.

World financial leaders were meeting in a Canadian Arctic town, and residents welcomed them by building two igloos.

Canada's Finance Minister Jim Flaherty crawled in to have a look. Flaherty accidentally destroyed the entrance of an igloo on his way out.

The builders said not to worry — fixing an igloo is easier than fixing the world economy.