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Strong wind might be behind US millionaire Steve Fossett plane crash

London, Jul 10 (ANI): The cause of late American millionaire adventurer Steve Fossett's plane crash two years ago might have been caused by strong wind and turbulence.

Fossett, who set more than 100 records during a thrill-seeking career, disappeared in September 2007, after taking off on a solo flight from a private airstrip at a Nevada ranch, reports Times Online.

The single-engine, two-seater plane had crashed near Mammoth Lakes, California, "following an inadvertent encounter with downdrafts that exceeded the climb capability of the airplane," the National Transportation Safety Board said in a report released on July 9.

In addition to the downdrafts, air pockets that can pull a plane suddenly downward, causing turbulence, the NTSB said that high-density altitude and mountainous terrain contributed to the accident.

Despite a massive, high profile search of the rugged wilderness, no trace of Fossett's plane was found for more than a year until a hiker stumbled on identity cards belonging to the adventurer in the Sierra Nevada Mountains in October 2008. (ANI)

IMF presents report on global financial systems

Washington, Apr 12: After witnessing a slow down, the Global Financial System (GFS) has emerged stronger and become more resilient in recent months, the International Monetary Fund (IMF) says.In the latest issue of its semi-annual Global Financial Stability Report published April 11, the IMF says developments such as strong corporate earnings and continued increase in disposable personal income validate its September 2005 upbeat assessment of the G F S. "The financial, corporate and household sectors have created substantial financial cushions in practically.....
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