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2016 Olympics

The Finanical Times reports that the decision has been made that Chicago will host the 2016 Olympics and plans to take out a $500 million insurance policy to avoid the need for public funds. It was between Chicago and Las Angeles to host the Olympics but Chicago won the nomination.

The LA Times reports that the board opted for the enthusiasm and fresh approach of Chicago over the "experienced" LA, which has hosted the Olympics before. The LA government is very disapointed but excited that the Olympics are being held in the US, the article continues.