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
The Pensions and Lifetime Savings Association (PLSA) has announced it will shrink its board by more than one-third as part of a governance overhaul to make it "agile and more appropriate".
Smaller FTSE 350 defined benefit (DB) schemes were nearly 15 percentage points less well-funded than larger schemes in 2017, according to a Goldman Sachs Asset Management (GSAM) analysis.
The advent of collective pension systems could help the UK avoid demographic challenges which will make it "impossible" for society to help savers in retirement, experts say.