World Events: 9-May-08 - 8-Jun-08

Indexes

Money

Business

Finance

Government

Organization

Violence

Science

Activism

Spiritual

Entertainment

Date

World Event

9-May-08

New York, NY - U.S. - Oil futures surged past $125 a barrel on the New York Mercantile Exchange (NYMEX; AP; AFP; MarketWatch).

10-May-08

MO; OK - U.S. - Tornadoes killed at least 18 people (VOA-AP-Reuters, 11-May-08).

U.S. - Reports indicate that some speculators/investors are "walking away" from "upside down" properties (the debt exceeds the property's worth) (NYT; Los Angeles Times).

11-May-08

Shanghai - China - Commercial Aircraft Corp. of China (CACC) launched to build a 150-seat aircraft by 2020; CACC's registered capital: $2.7 billion (China View-Xinhua; BusinessWeek; Bloomberg). (See also: Wikipedia.)

Haiti - Ferry capsized: At least 20 people were killed (VOA News-AFP).

12-May-08

Chengdu, Sichuan - China - A magnitude-7.9 earthquake hit China (USGS); the official death toll was 19,509, as at 15-May-08; more than 50,000 people were feared dead in Sichuan alone (China View-Xinhua, 15-May-08). (See also: BBC News, 14-May-08; China View-Xinhua, 12/14-May-08; VOA News, 12-May-08; Bloomberg, 12-May-08.)

Armonk, NY - U.S. - MBIA Inc. 2008Q1 results: Total revenue, $711.4 million (before realized and unrealized gains and losses) (down 4%); net loss, $2.4 billion (MBIA-Business Wire). (See also: Bloomberg; BBC News.)

Vienna - Austria - At least 40 developing countries have expressed interest in starting nuclear power programs (Washington Post).

13-May-08

Jaipur, Rajasthan - India - A series of bombings killed 63 people (Times of India, 15-May-08; BBC News, 14-May-08; CNN International, 14-May-08). (See also: VOA News, 14-May-08.).

WV - U.S. - Senator Hillary Rodham Clinton beats Senator Barack Obama in the West Virginia Democratic primary (VOA News; NYT).

Palo Alto, CA; Plano, TX - U.S. - Hewlett-Packard (HP) to acquire Electronic Data Systems Corporation (EDS) for about $13.9 Billion (HP; EDS). (See also: Los Angels Times, 14-May-08.)

U.S. - Despite the mortgage meltdown, Islamic finance companies in the U.S. that offer lease-to-own deals with no "riba" (usury is forbidden in Islamic economic jurisprudence) are reportedly thriving (Washington Post). (Re riba, see Wikipedia, 20-Apr-08.)

Sydney - Australia - Westpac Banking Corporation (Westpac) to acquire St.George Bank Limited (St.George) for $17.5 billion (Westpac; Bloomberg; BBC News).

14-May-08

Damadola - Pakistan - Suspected U.S. missile strike killed 12 people, including women and children (VOA News-AFP-Reuters). (See also: AFP.)

Abu Munasir, Anbar - Iraq - A suicide bomber killed at least 20 people at afuneral; Sunnis opposed to al-Qaeda were targeted (Al Jazeera-Agencies).

Irvine, CA - U.S. - RealtyTrac April 2008 U.S. Foreclosure Market Report: 243,353 properties (one in every 519 U.S. households) were foreclosed in April 2008, up nearly 65% from April 2007 (RealtyTrac Inc.). (See also: Bloomberg.)

McLean, VA - U.S. - Freddie Mac 2008Q1 results: Total revenue, $1.529 billion; net loss, $151 million; expects to raise $5.5 billion in new core capital (Freddie Mac).

15-May-08

Jerusalem - Israel - President George W. Bush, to the Knesset: "The fight against terror and extremism is the defining challenge of our time. . . It is a clash of visions . . . On the one side are those who defend the ideals of justice and dignity with the power of reason and truth. On the other side are those who pursue a narrow vision of cruelty and control by committing murder, inciting fear, and spreading lies. This struggle is waged with the technology of the 21st century, but at its core it is an ancient battle between good and evil. The killers claim the mantle of Islam. . . No one who prays to the God of Abraham could strap a suicide vest to an innocent child . . . Some seem to believe that we should negotiate with the terrorists and radicals, as if some ingenious argument will persuade them they have been wrong all along. We have heard this foolish delusion before. . . We have an obligation to call this what it is -- the false comfort of appeasement, which has been repeatedly discredited by history". (White House.)

Washington, DC - U.S. - Some Democrats are outraged at President Georges W. Bush's insinuation, in his speech to the Knesset, that by talking to America's adversaries they would be appeasing terrorist states (CNN Politics). (See also: BBC News; Christian Science Monitor, 16-May-08; Al Jazeera-Al Jazeera-Agencies.)

Lagos - Nigeria - Explosion at an oil pipeline killed at least 100 people, including many children (Al Jazeera-Al Jazeera-Agencies).

Sichuan - China - About 400 dams were damaged by the 12-May-08 earthquake (NYT); nuclear facilities may also have been damaged (The Australian).

U.S. - The mortgage meldown and foreclosures are causing emotional problems, including anxiety disorders, depression, addictive behaviors, and suicide; stress is affecting marriages and relationships (USA Today).

London - U.K. - In a letter Albert Einstein wrote in 1954 to philosopher Eric Gutkind, Einstein described the Bible as “pretty childish” and mocked the idea that the Jews could be a “chosen people”; the letter was sold for $404,000 at Bloomsbury Auctions (NYT-AP-Bloomsbury Auctions, 16-May-08; Guardian). Einstein: "For me the Jewish religion like all others is the incarnation of the most childish superstitions. And the Jewish people to whom I gladly belong and with whose mentality I have a deep affinity, have no different quality for me than all other people. As far as my experience goes, they are no better than other human groups, although they are protected from the worst cancers by lack of power. Otherwise I cannot see anything ‘chosen’ about them" (Bloomsbury Auctions, 19-May-08). (See also: Jewish Telegraphic Agency, 13-May-08; Nature, 14-May-08; Los Angeles Times, 24-May-08.)

16-May-08

Rangoon - Myanmar - Myanmar's official death toll from cyclone Nargis: 78,000 people; 56,000 missing (VOA News-AFP-AP-Reuters). (See also: Los Angeles Times, 18-May-08.)

Colombo - Sri Lanka - Tamil Tiger suicide bomber killed 10 people, including 8 police officers (CNN International; BBC News).

Internet - In an audio tape attributed to Osama bin Laden, the speaker said "Western leaders' . . . are in the same trench as the Israelis against us. . . We will continue, God permitting, the fight against the Israelis and their allies . . . " (SITE Intelligence Group; Al Jazaara-Al Jazeera-Agencies, 18-May-08). (See also: VOA News.)

Washington, DC - U.S. - The Index of Consumer Sentiment tumbled to 59.5 in the May 2008 survey - registering a record low since 1980 (MarketWatch; Bloomberg). (Source: Reuters/University of Michigan.)

17-May-08

Myanmar - Thai and Indian health care professionals to provide medical care to cyclone Nargis survivors (VOA News-AP-AFP). British Prime Minister Gordon Brown condemned Myanmar's government for not allowing in foreign (Western) aid (VOA News).

Palampiddi Junction, Mannar; Wanni - Sri Lanka - Sri Lankan forces captured Palampiddi Junction and killed at least 34 Tamil Tiger (LTTE) rebels; 21 rebels were also killed in Wanni since 16-May-08 (Bloomberg, 18-May-08). (See also: The Hindu, 18-May-08; AP, 18-May-08.)

CA - U.S. - Healthcare providers are accusing insurers of "balance billing" or underpaying, thus leaving patients with the responsibility for paying the balance of the bill (Los Angeles Times).

Sichuan - China - Mudslides buried more than 200 relief workers (NYT).

Somalia - The food crisis has hit Somalia: "hundreds of people are dying of hunger and thirst" (NYT).

18-May-08

Beijing - China - China's official death toll from the Sichuan earthquake: More than 32,000; expected to surpass 50,000 (VOA News).

Internet - In an audio tape attributed to Osama bin Laden, the speaker accused Arab leaders of "sacrificing" the Palestinians (Al Jazaara-Al Jazeera-Agencies). (See also: Laura Mansfield.)

Egypt, Jordan, Lebanon - The global food crisis has opened opportunities for Islamic groups to help feed the hungry throughout the Arab world; many Arabs suspect the U.S. of causing the food crisis (Los Angeles Times).

19-May-08

Washington, DC - U.S. - The Federal Reserve to offer $75 billion in 28-day credit through its Term Auction Facility (TAF) (Federal Reserve Board).

New York, NY - U.S. - American International Group (AIG) to raise about $20 billion (MarketWatch).

19-May-08

Ethiopia - The UN Office for the Coordination of Humanitarian Affairs (UNOCHA) reports that food shortages have left up to 3.4 million in need of life-saving humanitarian aid; according to the UN World Food Programme (WFP), food prices between Sep-07 and Feb-08 have increased as follows: maize, 83%; sorghum, 88.94%; and wheat, by 54.38% (UNOCHA).

Nalaguraidhoo - Maldives - 9 Indian Ocean Nations - Bangladesh, Comoros, India, Madagascar, the Maldives, Mauritius, Oman, Pakistan and Sri Lanka - launched the South Asia Regional Port Security Cooperative (SARPSCO) (VOA News).

20-May-08

Washington, DC - U.S. - The World Bank decided not to provide aid or loans to Myanmar; cyclone Nargis killed nearly 78,000 people, 56,000 more people are missing (VOA News-AFP-AP).

Tokyo - Japan - The Bank of Japan decided to keep the uncollateralized overnight call rate at around 0.5% (Bank of Japan).

New York, NY - U.S. - The Dow Jones Industrial Average (DJIA) lost 199.48 points (-1.53%), closing at 12,828.68 (DJ; Yahoo! Finance).

21-May-08

New York, NY - U.S. - The Dow Jones Industrial Average (DJIA) lost 227.49 points (-1.77%), closing at 12,601.19 (DJ; Yahoo! Finance).

London - U.K. - The Crown Estate announced the procedure for offshore windfarm development within Scottish territorial waters (The Crown Estate; ENS, 22-May-08).

Montreal, QC - Canada - The Court of Appeal of Québec reversed a court approval for a $51.8 billion leveraged buyout of Bell Canada Enterprises led by the Ontario Teachers’ Pension Plan (Court of Appeals of Québec; Globe and Mail-Report on Business, 22-May-08; NYT-DealBook, 22-May-08; NYT, 23-May-08).

22-May-08

New York, NY - U.S. - U.N. Secretary-General's message on the International Day for Biological Diversity: "About a fifth of domestic animal breeds are at risk of extinction, with an average of one lost each month. Of the 7,000 species of plants that have been domesticated over the 10,000-year history of agriculture, only 30 account for the vast majority of the food we eat every day. . . In a world where the population is projected to jump 50 per cent by the year 2050, these trends can spell widespread hunger and malnutrition, creating conditions where poverty, disease and even conflict can metastasize" (UN News).

23-May-08

U.S. - Gerard Cassidy of RBC Capital Markets estimated that at least 150 banks will fail in the U.S. over 2-3 years (MarketWatch). (See also: Thomson Reuters-Reuters UK, 7-Apr-08; Washington Post-AP, 26-Mar-08.)

U.S. - According to the National Association of Realtors, the median home price in the U.S. was $202,300 in Apr-08 (down 8.0% YOY); the total available-for-sale house inventory at the end of Apr-08 was 4.55 million (up 10.5%) (National Association of Realtors). Unsold houses hit a 23-year high (MarketWatch).

Bonn - Germany - The UN Convention on Biological Diversity signed a strategic partnership with the Convention on the Conservation of European Wildlife and Natural Habitats (the Bern Convention): "There are estimates that species are becoming extinct at a rate of 10-100 times the natural rate of extinction and, when compounded by a 1.5-2.5°C rise in global average temperatures due to climate change. As a result, the Intergovernmental Panel on Climate Change predicts that approximately 20-30 per cent of known plant and animal species may be extinct by the end of the 21st century" (UN CBD).

25-May-08

U.S. - Announced bank plans since Aug-08 indicate that banks worldwide plan to eliminate about 65,000 jobs; according to psychologists, the laid off are angry, feel betrayed (NYT).

Pasadena, CA - U.S.; Mars - NASA's Phoenix spacecraft lands successfully at Martian arctic site (NASA, 25/28-May-08).

26-May-08

Sichuan - China - The death toll from the Sichuan earthquake rose to more than 65,000; floods threaten survivors (VOA News).

Tarmiya - Iraq - A suicide bomber killed 6 members of the U.S.-backed Awakening Councils (VOA News-AFP-AP).

Awoba - Nigeria - The Movement for the Emancipation of Niger Delta (MEND) said it attacked a Royal Dutch Shell oil pipeline and killed 11 soldiers (AFP). (See also: Bloomberg.)

27-May-08

Johannesburg - South Africa - At least 56 people were killed over 2 weeks in anti-immigrant violence (Washington Post; Al Jazeera-Al Jazeera-Agencies). (See also: NYT, 23-May-08.)

Beichuan, Sichuan - China - Chinese authorities to evacuate 158,000 people threatened by flooding (China View-Xinhua). (See also: NYT, 28-May-08.)

Zimbabwe - More than 50 Movement for Democratic Change (MDC) supporters were reportedly killed since 29-Mar-08 (VOA News).

28-May-08

Washington, DC - U.S. - Many homeowners are turning to bankruptcy (including Chapters 7 and 13) to avoid foreclosure (Washington Post); U.S. bankruptcy filings increased to 850,912 in 2007 (up 38%) (US Courts, 15-Apr-08).

Kathmandu - Nepal - Nepal's Constituent Assembly abolished the monarchy, replacing it with a republic; King Gyanendra has 15 days to vacate the royal palace (The Hindu, 29-May-08; CNN International). (See also: Al Jazeera-Agencies.)

Chicago, IL - U.S. - Under a preliminary class action settlement In re Trans Union Corporation Privacy Litigation, claiming the defendants violated state laws and the Fair Credit Reporting Act (FCRA), eligible Americans will be able to access their credit scores at no charge for up to 9 months; TransUnion denied any wrongdoing (TransUnion, 29-May-08; Forbes-AP, 29-May-08; Los Angeles Times, 30-May-08). (See also: In re Trans Union Corporation Privacy Litigation settlement website.)

29-May-08

Washington, DC - U.S. - The Federal Reserve to offer $75 billion in 28-day credit through its Term Auction Facility (TAF); the auction to be held on 2-Jun-08 and to be settled on 5-Jun-08 (Federal Reserve Board).

India - More than 41 people were killed in 1 week in protest by thousands of India's Gujjars, one of India's lowest castes (BBC News). (See also: Al Jazeera-Al Jazeera-Agencies.)

Sinjar - Iraq - Suicide bomber targetted a police recruitment center and killed at least 18 people (Al Jazeera-Al Jazeera-Agencies).

30-May-08

Beijing - China - The death toll from the Sichuan earthquake on 12-May-08 rose to 68,858; 18,618 people were still listed as missing (China View-Xinhua).

Johannesburg - South Africa - According to Africa@Risk 2008, a report released by the World Economic Forum's (WEF) Global Risk Network, Africa faces 4 key risks: Food and freshwater security; geopolitical instability; economic shocks; and climate and environmental challenges (WEF).

Amran - Yemen - A gunman killed at least 8 people at a mosque (VOA News-AFP-AP-Reuters). (See also: Al Jazeera-Al Jazeera-Agencies.)