London, Sept. 25 : The United States will lose its status as a superpower of the world financial system and must work with its partners to agree stronger international rules to regulate markets, German Finance Minister Peer Steinbrueck has said.

Speaking in the Bundestag, the lower house of the German Parliament on Thursday, Steinbrueck said the financial crisis would leave "deep marks" and proposed eight measures to address it, including a ban on speculative short-selling and an increase in bank capital requirements to offset credit risks.

Washington, Sept 25 : Billionaire investor Warren Buffett has described the current Wall Street meltdown as an “economic Pearl Harbour”, requiring immediate action of lawmakers.

Amid growing rancour over the terms of a 700 billion dollar bailout for the American financial system, Buffett said the panic of last week would "look like Nirvana" if the legislation is not passed.

According to the Independent, his comments came a day after he paid five billion dollars (2.7 billion pounds) for a stake in Goldman Sachs, the banking giant, in what he described as a bet that politicians would indeed act to repair.

London - The two most senior figures in the Church of England have condemned the behaviour of financial traders in the recent market turmoil, branding them as "bank robbers and asset strippers."

In an article for the Spectator magazine, Archbishop of Canterbury Rowan Williams questioned the value to society of men and women who "buy and sell debt solely for their own profit."

In the article, due to be published in the magazine on Friday, Williams attacks "unbridled capitalism" and defends the socialist theorist Karl Marx's critiques of the system.

Washington, September 25 : Latest discoveries by archaeologists have shown a massive royal grave site in a village known as Bonce in Macedonia, one of a kind in the Balkans, which has led them to suggest that the locality may be the long lost kingdom of Pelagonia.

The grave site was discovered by a team led by Professor Viktor Lilcic.

“According to the way this was built, the brilliance behind it, and just from the sheer size of the grave site, we believe the king of Pelagonia had been buried here,” said Dr. Antonio Jakimovski, coordinator of the Archeological Research.

The grave site is from the 4th century B. C. when the kingdom of the Pelagonians was around. It was suggested the site had been robbed even in Antic times.

Washington, September 25 : A study by biologists has indicated that extreme flood events in floodplain grasslands affect carabid beetles and molluscs more than plants.

The study was conducted by biologists from the Helmholtz Centre for Environmental Research (UFZ), TU Berlin, the German Federal Institute of Hydrology (BfG), OKON Kallmunz and the ILN Buhl, following several years of observations before and after the Elbe floods of August 2002.

Flow variations are known to be most important drivers in structuring riverine communities.

New York, Sept. 25: New York, Sept. 25 (ANI): Faced with the possibility of a media blackout, Alaska Governor and Republican vice-presidential candidate Sarah Palin, has been forced into doing more interviews in the run-up to the November 4 presidential and vice-presidential elections. In a her third interview since accepting the Republican vice-presidential nomination earlier this month, Palin said that she believed that her to be boss – John McCain – has the required credentials to bring the ailing US economy back on track.