What happened in 1998 Major News Stories include Search Engine Google is founded, FDA approves Viagra, Apple unveils the iMac, Maastricht Treaty comes into force, Yangtze River breaks it's banks more than 10 thousand, 66-day blackout in Auckland, Terrorist Bombing attacks on two US Embassies. After many years of troubles in Northern Ireland both sides agree to the Good Friday peace agreement. The US President Bill Clinton denies he had "sexual relations" with former White House intern Monica Lewinsky, but later admits it. The Soviet Union Banking system suffers a meltdown when the Rouble lost 70% of its value against US dollar in 6 months with several of the largest Russians banks collapsing. U.N.I.C.E.F. reports there are approximately 250 million child laborers worldwide .
The search engine Google is incorporated as a private company in Menlo Park, California by Larry Page and Sergey Brin during September. Page and Brin were still Ph.D students at Stanford University and had previously created the website as a research project starting in 1996. The company grew rapidly and received investments early on from the co-founder of Sun Microsystems and the founder of Amazon. It was successful due to its unique algorithm that calculated a website’s relevance to a search by analyzing links back to the site rather than connections to the search terms, producing higher quality results.
Citizens of Northern Ireland and the Republic of Ireland vote in referendums on the Good Friday Agreement in May. The Good Friday Agreement was signed in the previous month and dealt with issues like sovereignty, de-escalation of violence, and justice between the two Irelands. The referendum in Northern Ireland asked if voters approved of the ratification of the agreement and the vote came out 71 percent in favor and 28 percent against with a turnout of 81 percent. The referendum held in the Republic of Ireland asked voters if they approved a change to the Constitution, creating the Nineteenth Amendment which would accommodate the agreement. The vote came out as 94 percent in favor and 5 percent against with a 56 percent turnout.
The United Kingdom, Republic of Ireland, and Northern Ireland sign the Good Friday Agreement, also known as the Belfast Agreement, on April 10th. The agreement marked the beginning of the peace process between Ireland and the Britain as it outlined how the government would work in Northern Ireland, defined the UK and Ireland’s roles in Northern Ireland, and encouraged demilitarization of the region. It established that Northern Ireland would have its own assembly and run a devolved multi-party democratic government with the United Kingdom. The citizens of Ireland and Northern Ireland approved the agreement in referendums held during the following month and it became effective in December of 1999 .
France Wins 1998 World Cup in France.
More Information for the 1998 World Cup
The 16th FIFA World Cup began during June of 1998 and was held in France. A total of 32 teams qualified for the tournament and the matches were held across ten different cities in the country. During the 64 matches a total of 165 goals were scored. The final title match was played between Brazil and France, with France winning 3 to 0, marking the sixth time a World Cup championship team had won at home. Over 2.7 million people attended the 1998 FIFA World Cup.
The European Court of Human Rights (ECHR) is established as a permanent fixture during November of 1998. The ECHR was originally created in 1959 as a temporary judiciary to help enforce the European Convention on Human Rights. The ECHR was tasked with upholding the observance of basic rights like freedom of speech and the right to a fair trial within the 47 member states of the Council of Europe. It was made permanent in 1998 to help handle the increasing number of cases that were being submitted. The ECHR is also known as the Strasbourg Court as it is located in Strasbourg, France.
Assembly of the International Space Station (ISS) begins during December 4th when NASA sends a six person crew on the Space Shuttle Endeavour to attach the American Unity node to the Russian Zarya module (also known as the Functional Cargo Block or FGB). The mission, known as STS-88, carried the node up to Zarya module which had already been launched. The crew completed three spacewalks to connect the first two building blocks of the ISS. The final pressurized module of the space station was attached in 2011. It is primarily used for scientific research, has hosted visitors from 17 different countries, and has been continually manned since November 2nd, 2000 .
The Winter Olympic Games are held in Nagano, Japan.
More Information for the 1998 Winter Olympics
The XVIII Winter Olympics were held during February 1998 in Nagano, Japan. These games saw the introduction of snowboarding and women’s ice hockey as new sports, along with the re-introduction of curling. Also during the Nagano Olympics, U.S. figure skater Tara Lipinski became the youngest person to be a champion in an individual event in the history of the Winter Olympics at the age of 15. These were also the first games in which Macedonia, Azerbaijan, Kenya, Venezuela, and Uruguay participated. At the end of the games, the countries that won the most medals were Germany, Norway, and Russia.
The South African Truth and Reconciliation Commission began to release its final report during October of 1998. The commission was originally established in 1995 by the South African government as a means to help heal the country after the end of the apartheid era. It investigated human rights issues that took place between 1960 and 1994 during apartheid and heard statements from thousands of people. It also worked on granting amnesty for individuals who qualified. Some parties believed the commission went too far while others believed it did not do enough, but was ultimately heralded as a successful effort in transparency and reconciliation by the international community.
How Much things cost in 1998
Yearly Inflation Rate USA 1.55%
Year End Close Dow Jones Industrial Average 9181
Interest Rates Year End Federal Reserve 8.25%
Average Cost of new house $129,300.00
Average Income per year $38,100.00
Average Monthly Rent $619.00
Cost of a gallon of Gas $1.15
Average cost of new car $17,200.00
US Postage Stamp 32 cents
1 LB of Bacon $2.53
1 LB Hamburger meat $1.40
Loaf of Bread $1.26
Dozen Eggs 88 cents
Below are some Prices for UK guides in Pounds Sterling
Average House Price 75,806
Yearly Inflation Rate UK 3.4%
Interest Rates Year End Bank of England 7.25%
FTSE 100 Average 5500
The legality of the potential secession of Quebec is argued in the Canadian Supreme Court.
More Information for Quebec Court Case
1. The Supreme Court of Canada ruled on the legality of Quebec’s potential secession from the country.
2. The court ruled that Quebec could not secede from Canada on its own.
3. They also made it clear that if a referendum was held on the question it would lead to negotiations between Quebec and the rest of Canada regarding the terms of the secession.
4. The court also stated that any act of secession would need a constitutional amendment to be completed.
5. The ruling was important in that it provided more clarity regarding the question of Quebec’s independence and could be potentially important to future discussions on referendums in international law.
Financial Crisis hits much of South East Asia
Worlds biggest airport in the world opens in Hong Kong
Terrorist Bombing attacks at two US Embassies in Nairobi and Dar es Salaam killing 250 people
Good Friday peace agreementis accepted by Sinn Fein the leader of the political wing of the republican IRA on May 10 in Northern Ireland
Bill Clinton denies he had "sexual relations" with former White House intern Monica Lewinsky. starting the Lewinsky scandal and investigations
An earthquake measuring 6.1 on the Richter Scale in northeast Afghanistan kills more than 5,000.
US launch cruise missile strikes against al-Qaida training camps in Afghanistan
A 5.9 Earthquake strikes the Azores killing at least 10 with many more still missing in the rubble
Official famine Southern Sudan declared with estimates that over 1 million people could die from starvation
Free Willy star Keiko goes to Iceland for eventual release back into the wild.
James Byrd Jr, a 49-year-old African-American man is dragged to his death behind a pickup truck
66-day blackout begins in Auckland, New Zealand.
Dow Jones drops over 500 points on August 31st on the New York Stock Exchange
US Announces first budget surplus in 30 years
Tornadoes in central Florida destroy or damage 2,600 structures and kill 42
Forest Fires in Florida force 120,000 to flee their homes
Osama bin Laden publishes fatwa declaring jihad against all Jews and Crusaders.
The Belfast Agreement is signed between the Irish and British governments and most Northern Ireland political parties ending many years of terrorist activity in Northern Ireland and mainland Britain
The splinter terrorist organisation "The Real IRA" plant massive car bomb on August 15 Omagh, Northern Ireland killing 27
A tsunami triggered by an undersea earthquake destroys 10 villages in Papua New Guinea killing an estimated 1,500,
In China the Yangtze River breaks through the main bank. The death toll was more than 12,000 injuring many thousands more.
Devaluation of the rouble. The ruble lost 70% of its value against US dollar in 6 months . Several of the largest Russians banks collapsed, and millions of people lost their savings.
IMF offers $22bn loan to Russia to stabilize economy with strict conditions
Hurricane Mitch makes landfall in Central America on October 26th killing an estimated 18,000 people
The Japanese economy enters a recession due to the collapse of land and property prices
The Japanese government implements a rescue package for Japanese banks following the collapse of the property market and $500bn in bad debts
Islamic extremists attack two villages in Algeria and massacre 400 local villagers
Europeans agree on a single currency the Euro
European Court of Human Rights becomes a permanent court with full-time judges
The Maastricht Treaty comes into force
President Bill Clinton Impeached for perjury and obstruction of justice.
Tobacco Master Settlement Agreement (MSA) is signed between Tobacco Companies and US States becoming the largest civil settlement in United States history,
Two boys Mitchell Johnson ( 13 yrs old ) and Andrew Golden ( 11 Years Old ) shoot and kill four fellow students in Jonesboro, Arkansas .
The European Central Bank is Established in Frankfurt Germany
U.N.I.C.E.F. reports over 130 million children worldwide do not attend school and their is approximately 250 million child laborers worldwide
The two oil companies Exxon and Mobil merge to create the worlds largest petroleum company
New harder to counterfeit $20.00 bills enter circulation
Typhoon Babs strikes the Philippines killing 100 people
Quebec demands independence from Canada
Microsoft becomes biggest Company in the World valued at $261bn on the New York Stock Exchange
Low Flying US Military jet severs the cable of a ski lift in Italy and 20 people plunge to their death
Israel celebrates it's 50th Anniversary of it's founding
Serbian troops in Yugoslavia target villages occupied by ethnic Albanians in Kosova
An oil pipeline running through a village in Nigeria, explodes killing 700 people with the resulting fire burning for nearly a week.
The Worlds Longest Suspension Bridge ( as of 2007 ) in Akashi, Japan is Completed
Iraq prevents UN weapons inspectors from conducting a search and President Bill Clinton orders a series of air strikes against Iraq
A severe ice storm in Canada and Northern United States leaves millions without power
UK Reports of a link between the MMR vaccine and autism spectrum disorders in the UK are answered by The World Health Organisation who say no link exists and that thanks to the use of the MMR vaccine death from diseases like measles and diphtheria have almost been eradicated
BMW buys Rolls-Royce cars for $570 million
France Wins 1998 World Cup in France
The Winter Olympic Games are held in Nagano, Japan
Worlds first Digital Terrestrial Television Service launched in the UK
Windows 98 released by Microsoft on June 26th
United States Department of Justice (DOJ) brings Anti-Trust Case against Microsoft Corp.
During 1998 with the technology maturing e-commerce started to take off as more and more companies decided to create a presence on the Internet with their own web sites.
The Search Engine Google is founded.
The Worlds largest suspension Bridge 1.234 miles in Japan opens
19 European nations agree to forbid human cloning.
Data sent from the Galileo probe indicates that Jupiter's moon Europa has a liquid ocean under a thick crust of ice
The FDA approves Viagra for use as a treatment for male impotence, becoming the first pill to be approved to treat this condition in the United States.
Apple Computer unveils the iMac.
Danish Catamaran Cat Link V sets new record for fastest crossing of the north Atlantic Blue Ribband in 2 days 17.59 hours
India and Pakistan test nuclear weapons
The concert by the Three Tenors ( Jose Carreras, Placido Domingo and Luciano Pavarotti ) For the opening of the World Cup In France is seen by 100,000 live and 3 billion around the world.
Saving Private Ryan
There's Something About Mary
A Bug's Life
Shakespeare in Love
Lethal Weapon 4
The Mask of Zorro
The Wedding Singer
Law & Order
America's Funniest Home Videos
One Foot in the Grave (UK)
The Jerry Springer Show
Late Night with Conan O'Brien
Star Trek: Deep Space Nine
The Late Show with David Letterman
Star Trek: Voyager
The Drew Carey Show
Everybody Loves Raymond
Buffy the Vampire Slayer
Dharma & Greg
King of the Hill
Australia Prime Minister John Howard
Brazil President Fernando Henrique Cardoso
Canada Prime Minister Jean Chrétien
China Chairman of the People's Republic of China Jiang Zemin
France President Jacques Chirac
Germany Chancellor Helmut Kohl Till 27 October
Germany Chancellor Gerhard Schröder From 27 October
India Prime Minister Inder Kumar Gujral Till 19 March
India Prime Minister Atal Bihari Vajpayee From 19 March
Italy Prime Minister Romano Prodi Till 21 October
Italy Prime Minister Massimo D'Alema From 21 October
Japan Prime Minister Ryutaro Hashimoto Till 30 July
Japan Prime Minister Keizo Obuchi From July 30th
Mexico President Ernesto Zedillo
Russia / Soviet UnionGeneral Secretary of the CPSU Boris Yeltsin
South Africa State President Nelson Mandela
United States President Bill Clinton
United Kingdom Prime Minister Tony Blair