U2’s new studio building plans suspended

Authorities in Dublin have postponed building of the The U2 Tower, the first skyscraper in the Republic of Ireland, because of world credit crunch. U2's new recording studio is set to be located at the top of it.

Dublin authorities plan to reopen negotiations with potential developers within the next year. Earlier, works were supposed to start this year and finish in 2011. U2 last album How To Dismantle An Atomic Bomb was released in 2004.