Obama secures deal on banks as G8 leaders meet

As world leaders gathered to deal with the aftermath of the global financial crisis, US President Barack Obama talked about a congressional compromise on overhauling the US banking system and called for an international effort to prevent future economic meltdowns.

Leaders of the Group of Eight major industrial nations - the United States, Japan, Germany, France, Britain, Italy, Canada and Russia - were meeting in Canada today to discuss a range of initiatives to alleviate global poverty.