NightBlogger

Banking shares across the G7 nations could be suspended tomorrow as governments mount a desperate effort to implement rescue packages designed to repair the battered global financial system. The measure was among several being considered as Gordon Brown, the Prime Minister, is considering emergency steps to take majority stakes in large British banks in an attempt to avert the collapse of the industry. Details of the potentially stunning move emerged as the International Monetary Fund warned global equities could plunge by a further 20 per cent in the coming days unless governments deliver concrete action to address the crisis. More

(CNN)
In Russia, trading in shares was suspended after the RTS stock index fell more than 15 percent. Iceland’s exchange was also closed while the government rushed to draft a plan to deal with the financial turmoil’s impact on its over-leveraged banking sector. In Brazil, stocks lost up to 15 percent, while Asian and Pacific markets closed roundly lower on Monday. More

Source: ABC.net
Russia is holding its breath to see what ride awaits its stock market later today after a steep dive led to a suspension in trade late on Tuesday. The Russian Government has pumped billions of dollars into the financial market to quell fears of its liquidity. After a rollercoaster ride through Tuesday Russia’s main stock index, the RTS, had fallen more than 11.4 per cent by late afternoon, halving the market’s value of just four months ago. Another index, the Micex, had dived 16.6 per cent. The stock exchange suspended trading for an hour. Banking and energy stocks had taken a battering, which is keenly felt in an economy that has been driven by the oil and gas markets. After close of trade, Prime Minister Vladimir Putin announced tens of billions of dollars had been placed on the Russian financial market, and that the Finance Ministry planned another major injection for today.

fcw.com
A NASA employee has been suspended for soliciting donations and writing politically partisan blog posts and sending e-mail messages while at work, violations of the Hatch Act. Office of the Special Counsel officials said a Johnson Space Center employee promoted local and state political candidates in 2006 and 2007 through his Internet writings.

The officials also found the employee solicited small campaign donations two times in 2006 through blogs. The employee has been suspended for 180 days without pay. The suspension started March 30. Special Counsel Scott Bloch said the suspension is part of an effort to crack down on Internet- and technology-based Hatch violations. “Today, modern office technology multiplies the opportunities for employees to abuse their positions and — as in this serious case — to be penalized, even removed from their job, with just a few clicks of a mouse,” Bloch said.