US - The New York Stock Exchange remained closed today, following the terrorist attack on the World Trade Center Tuesday.
It was reported that the three-day closure is the longest since the economic depression which struck in 1929.
The Nasdaq and Pacific Exchanges will also remain closed today. This decision was reached in consultation with the Securities and Exchange Commission (SEC).
As stated yesterday afternoon at a press conference at Bear Sterns, Nasdaq said it is working with the SEC, the exchanges, market participants and others to reopen equities markets. Nasdaq expects to reopen for trading no later than Monday, September 17.
Other international markets are operating in an orderly fashion but Europe was sorely impacted by the attack on New York, with markets falling sharply by between 5% and 10%. Shares in insurers, airlines and hotels were among the worst affected.
By Janet Du Chenne
Melrose has pledged to contribute up to £1bn to GKN's pension schemes as part of a final offer to acquire the engineering business.
Existing master trusts will be forced to pay £41,000 when applying for authorisation under the upcoming regime, the government has confirmed.
UPDATE 2 - DWP publishes DB white paper: Stronger powers for TPR, DB chair statements to be introduced
The Pensions Regulator (TPR) will be given the power to fine company bosses who deliberately puts their defined benefit (DB) schemes at risk, the government has confirmed.
An independent expert panel will be commissioned to review how the £6.1bn funding deficit figure for the Universities Superannuation Scheme (USS) was reached, Universities UK (UUK) has announced.