G20 round-up: Leaders get tough on financial sector

Hedge funds, credit rating agencies and offshore tax havens can all expect a crackdown on their business operations, while the IMF will supply billions of dollars to the world's worst affected economies. While Gordon Brown and US president Barack Obama achieved their main objective of providing new money to capital markets, but have been forced to compromise with other countries, which demanded greater regulation of the global financial system. The IMF will receive $500bn to lend to struggling economies during the downturn, and a further $250bn to create an 'overdraft facility' for nati...