In New York, half the firms that were shut down because of the 11 September attack never reopened.In London, the outward effects of the three Tube bombs were minor - indeed, traffic was passing through Aldgate by Monday. The area cordoned off around the No 30 bus in Tavistock Square was small, and only a handful of businesses were unable to reopen quickly.The big worry for London's economy was that the bombs would harm tourism and shopping. In each case, the aftermath of the blast, with streets closed to traffic, had a massive impact on the businesses that surrounded the buildings attacked by the terrorists. The events of 11 September and the Istanbul and Ankara attacks on branches of HSBC hit small businesses in the vicinity particularly hard. The financial markets quickly resumed their vibrancy and composure. Deals were being done and volumes were respectable for a warm July week, which saw the posh schools starting to break up for their summer holidays. Unlike the 11 September atrocity, this terrorist attack did not close any financial businesses.
Everyone was there to do deals with everyone else. The other crucial factor for business was that the attacks did not lead to large areas of the capital being cordoned off for rescue work and police investigations. London dusted itself down, put on its defiant face and went back to work. The business capital of Europe, the second most important financial centre in the world, the engine of the UK economy - it was vital that London put the bombings of 7 July behind it And for the most part it did. This is similar to how an administrator of an ISA or Pep would operate, he said.FDL has said that, generally, it would be flexible in helping people apply for compensation, but it would not be reopening its decision on life wrappers.
It has received more than 20,000 forms in the last month and now has 30,000 in total. It will decide how much each person will receive by the end of the year.. Back to work Monday was just that. Fund Distribution Ltd (FDL), set up to disburse the £144m paid by fund managers and stockbrokers to compensate an estimated 50,000 splits investors, has said people who invested in zero dividend preference shares through an offshore life company bond are ineligible. An FDL spokesman said: "Our understanding based on information provided to us is that these investors purchased a bond from the [life] company.
