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Police arrest five former Parmalat executives

Italian police arrested five top Parmalat officials, as they widen their inquiries into the multi-billion euro fraud at the dairy company. The Parmalat scandal was often compared with the collapse of U.S. energy giant, Enron.

The world gets ready for millennium bug in computer

Problems were anticipated because 20th-century software often represented the 4-digit year with only the final 2 digits, which made the year 2000 indistinguishable from 1900. However, companies worldwide checked and upgraded their computer systems to address the anticipated problems.

The U.S.A. hands control of the Panama Canal to Panama

The Panamanians were granted free control of the canal after Panama signed a treaty guaranteeing the permanent neutrality of the canal. The Panama Canal Authority assumed command of the waterway and the canal remains one of the chief revenue sources for Panama.

EU fixes currency rates and establishes the value of the euro

The conversion rates between the 11 participating national currencies and the euro were established. The rates were set by the Council of the EU, based on a recommendation from the European Commission. All conversion between the national currencies were carried out using the process of triangulation via the euro.

The AT&T Bell System is broken up by the U.S. Government

The AT&T Bell System was divided into independent companies by a U.S. Justice Department mandate. The Bell System’s many member-companies were variously merged into 7 Regional Bell Operating Companies or so-called Baby Bells. This division reduced the book value of AT&T by approximately 70%.

Donald Trump Jr. is born

Donald John Trump Jr. is an American businessman and former reality television personality. He is the eldest child of the 45th president of the United States, Donald Trump, and his first wife, Ivana. Trump Jr. campaigned for his father's presidential campaign.

Author of "Marshal plan" is born

George Catlett Marshall Jr. was an American statesman and soldier. He rose through the US Army to become Chief of Staff under presidents Franklin D. Roosevelt and Harry S. Truman, then served as Secretary of State and Secretary of Defense under Truman. Churchill lauded Marshall as the "organizer of victory" for his leadership in World War II.

Otawa becomes the capital city of Canda

Founded in 1826 as Bytown, and incorporated as Ottawa in 1855, the city has evolved into the political centre of Canada. On New Year's Eve 1857, Queen Victoria, as a symbolic and political gesture, was presented with the responsibility of selecting a location for the permanent capital of the Province of Canada.

Roman Emperor Commodus survives poisoning attempt

His mistress Marcia poisoned his food but he vomited up the poison, so the conspirators sent his wrestling partner Narcissus to strangle him in his bath. The Senate declared him a public enemy and restored the original name of the city of Rome and its institutions. His statues were demolished. His body was buried in the Mausoleum of Hadrian.

Anniversaries of the (in)famous