Portal:Current events/2008 November 21

Current events of November 21, 2008 (2008-11-21) (Friday)

Global and Russian financial crises: Construction of several skyscraper buildings in Russia (Norman Foster's Russia Tower, Gazprom's Okhta Center) are canceled due to lack of credit available during the global financial crisis. (The Guardian) The 2010 Winter Olympics in Vancouver may be "facing challenges" as several corporate sponsors may stop financing the Olympics due to the crisis. The Russian government announces it will review spending on the 2014 Winter Olympics in Sochi, saying it had "set a target of saving some money". International Olympic Committee President Jacques Rogge says there is "no issue" of financing for the coming three Games: the 2010 Olympics, the 2012 Summer Games in London, and the 2014 Winter Games; however, the organizers may need to "hold down the size" of the Games to cope with the global financial downturn. (The Globe and Mail) (The Guardian) (The Times) Toyota cuts its Japanese temporary workforce by 50 percent from 6,000 to 3,000 due to falling automobile sales. (Bloomberg) Burmese comedian Zarganar is sentenced to 45 years in prison for organising relief for victims of Cyclone Nargis. (AFP via Google News) Confirmation of Neil Barofsky as special inspector general of the Troubled Assets Relief Program is delayed by an unnamed Republican United States Senator. (The Deal) According to unofficial sources, Hillary Rodham Clinton has agreed to serve as the next U.S. Secretary of State and Timothy F. Geithner as the next Secretary of the Treasury under the presidency of Barack Obama. (The New York Times) The U.S. National Intelligence Council predicts a major decline in U.S. economic, military, and political dominance over the next two decades (BBC News) Malaysia bans the practice of yoga by Muslims. (BBC News) South Africa changes to an open telecommunications market ending a long monopoly and duopoly environment as smaller independent service providers gain certainty on their rights to build network infrastructure. (FM Tech) Regal Entertainment Group (RGC) stock shares reached one of its all time lows, selling for $7.45 USD.