COPENHAGEN — The cost of Chicago's defeat in its bid to host the 2016 Olympics will be felt in the value of the next U.S. broadcast deal.

The International Olympic Committee's top negotiator said the U.S. rights are worth less after the 2016 Games were awarded to Rio de Janeiro. "Obviously, the domestic games would be more valuable," IOC finance commission chairman Richard Carrion told The Associated Press.

The IOC gets more than half its revenue from broadcasting deals, and U.S. deals alone have been worth more than the rest of the world's broadcasters combined.

3 FIRMS APPROVED FOR TOXIC ASSET PROGRAM

WASHINGTON — Three more large investment firms have raised sufficient capital to participate in the joint partnership with the government to purchase toxic assets from banks.

The Treasury Department said Alliance Bernstein LP, BlackRock Inc. and Wellington Management Co. had all raised the $500 million minimum to begin operations. Two other firms were cleared to participate last week.

The goal of the program is to rid banks of bad loans so they can resume more normal lending, which is key for sustaining any economic recovery. The total purchasing power to obtain banks' soured assets is now $12.27 billion, Treasury said yesterday.

GEITHNER: GLOBAL ECONOMIES STILL AT RISK

SAN FRANCISCO — While global economic growth is likely to improve next year, U.S. Treasury Secretary Timothy Geithner warned yesterday that risks remain that will require cooperation of the world's economic leaders.

"While global growth is forecast to accelerate in 2010, output gaps will persist, unemployment may rise further, and downside risks remain," Geithner said in a statement issued from the Group of Seven meeting in Istanbul, Turkey.

He added that while planning for an eventual exit from heavy government support of the financial sector is necessary, the world is not yet in a position to do so.