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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Nov 24, 2008
Page
3
Washington outlines a plan to rescue Citi group by taking a 20 billion dollar stake and guaranteeing up to 306 billion dollars of risky loans and securities. The Treasury, Fed, and FDIC jointly announced the action.
North Korea announced it will suspend a joint tourism project and discontinue cross-border train service with South Korea starting next week. It also said it would selectively expel South Koreans from the Kaesong industrial zone, while not shutting down factories still providing hard currency. The moves mark a sharp escalation in cross border tensions ahead of traffic restrictions planned for December 1.
London government aims to ease economic pain with a large stimulus package featuring temporary tax cuts. The move comes amid a sharp global downturn and seeks to bolster activity and confidence in the U K economy.
In Camp Cropper Iraq the United States rushes to build criminal cases for about 5000 detainees as a security pact aimed at ending detentions without charge raises pressure to shift control to Iraqi authorities. The deal would require prosecutions in Iraqi courts or release.
Thousands of anti government demonstrators ringed Parliament forcing the postponement of a joint session as riot police fortified the building. The People’s Alliance for Democracy also blocked gates at the prime minister’s office and cut power to several government sites in a three month campaign against the administration.
In Johannesburg the former U N secretary general Kofi Annan former U S president Jimmy Carter and human rights advocate Gra ce Machel visited the Central Methodist church where Zimbabwean refugees shelter. They were barred from entering Zimbabwe but spoke with refugees about hunger and disease affecting millions who have fled the country.
Shots fired near the motorcade carrying Georgia President Mikhail Saakashvili and Polish President Lech Kaczynski on the Rose Revolution anniversary. No injuries reported. Saakashvili blamed Russian troops in South Ossetia. Kaczynski called the incident a sign of fragile ceasefire.
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