U.S. financial markets were closed on Tuesday because of the World Trade Center disaster. Officials have announced that the markets would be closed today as well. That means there will be no stock pages today and Thursday.
Shocked investors sent European share prices sharply lower and panic buying caused oil and gold prices to soar in response to the apparent terrorist attacks Tuesday in New York and Washington. The London Stock Exchange evacuated its headquarters in the city’s financial district as a precaution against a possible attack, although a spokesman said trading was continuing at an undisclosed alternative site. The International Petroleum Exchange suspended trading of crude oil and refined products for an hour to catch up on an unusually heavy volume of transactions, while gold trading on the city’s bullion market fizzled earlier in the afternoon.
Germany’s economic growth could fall below government forecasts next year, but the goal of balancing the federal budget by 2006 remains intact, the finance minister said Tuesday. After a drastic slowdown this year, growth of gross domestic product in Europe’s biggest economy could be below the expected 2.25 percent, Hans Eichel said in a speech to parliament. Chancellor Gerhard Schroeder’s center-left government is struggling with a stagnating economy, which was supposed to grow by 2 percent this year but actually slowed to a standstill in the second quarter.
Target Corp. said Tuesday it will open a store at www.amazon.com this fall to offer thousands of clothing, home, electronics and jewelry products. The companies also said Amazon.com will fill orders and provide customer service on Target’s current online sales sites, including target.com, MarshallFields.com, Mervyns.com and GiftCatalog.com, beginning next summer. Target will continue to own the online properties. Under the five-year alliance, Amazon.com will receive per unit fees and annual fixed fees. “Target.com has experienced tremendous growth in the past twelve months, and we believe this new Target store at Amazon.com provides another opportunity to expand our business,” said Jerry Storch, vice chairman of Target.
Washington Mutual announced the company is making a $250,000 donation to the American Red Cross disaster relief fund to provide recovery relief to the victims of today’s East Coast attacks. “In the aftermath of the tragedies on the East Coast, Washington Mutual employees send our sympathy and support to the families and friends of those directly impacted by this horrible tragedy,” said Kerry Killinger, the company’s chairman, president and chief executive officer. “We hope that our contribution to the American Red Cross will provide assistance to those who desperately need it.” Individual donations will be accepted on behalf of the American Red Cross at Washington Mutual financial centers (branches) by using account number 179-198417-3.
From Herald news services