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Time: 08:05 UTC | Date: May 7

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More January 2008 events...

Topics in the news

Italian Prime Minister Romano Prodi resigns Thousands of people in Gaza break a wall so they can get in Egypt to get supplies of food and fuel Société Générale, one of the largest banks in Europe, says one of its traders cost it €4.9 billion by making trades that were not permitted. A peace deal ends the Kivu conflict in the Democratic Republic of the Congo. An new flag of Iraq is created, taking away three stars that were linked with the Baath Party; a new permanent design is expected within the next year. Stock markets throughout the world fall, resulting in the U.S. Federal Reserve cutting interest rates by 0.75%, the largest single cut in interest rates since October 1984.