Google Inc has established a $100 million venture fund to invest in start-up, but full of potential Internet firms, which need early stage funding to develop their business.

Google Ventures will wholly belong to the Cupertino company and will actually look for firms through which Google will increase its revenue in this hard times.

The price of oil has fallen by almost $2 after several days of gains following more bad economic news that dragged global stock markets lower.

The price of US light crude fell by $1.95, or 3.6%, to $52.39 a barrel. London Brent oil fell $1.57 to $51.89.

On Thursday, prices hit their highest level of the year as economic optimism led to hope of increased demand.

U.S. President Barack Obama is launching a “Major Economies Forum on Energy and Climate” to help facilitate a U.N. agreement on global warming, the White House said on Saturday.

Leaders from 16 major economies have been invited to a “preparatory session” on April 27-28 in Washington to “help generate the political leadership necessary” to achieve an international pact to cut greenhouse gas emissions later this year, it said in a statement.