Al-Qaida Threat Raises Concerns Across the US and UK

Despite specific and detailed terror threats from Al-Qaida targeting major financial institutions and government buildings, those institutions were open for business as usual on Monday. The threat, which included mentions of truck and car bombs, prompted intensified counter-measures from law enforcement agencies. However, the institutions in question, including the New York Stock Exchange, Citigroup, and Prudential Financial, continued with their normal work routines.

Key Takeaways:

• The Al-Qaida threat named specific targets in New York, Washington, and Newark, including the New York Stock Exchange, the International Monetary Fund, and the World Bank.
• The threat included plans to use truck and car bombs to carry out the attacks.
• Despite the specificity of the threat, officials did not recommend any changes to the work schedules of employees at the targeted institutions.
• Intensified inspections of trucks within 20 miles of the targeted buildings were under way early Monday.
• New Jersey Gov. James E. McGreevey deployed 1,000 investigators and anti-terrorist officers to highways, commuter trains, and ferries in response to the threat.
• US Homeland Security Secretary Tom Ridge stated that the intelligence information from multiple sources in multiple locations suggested that terrorists were targeting specific financial institutions.
• The price of crude oil rose sharply early Monday after the terror alert, with the New York Mercantile Exchange posting a record price of $43.92 a barrel.
• London's traders bid up the price of the benchmark Brent crude to a 14-year high of $40.05.
• The market movement was a response to Sunday's warning from US Homeland Security Secretary Tom Ridge regarding the Al-Qaida threat.
• Iraqi Sunni and Shiite religious leaders denounced the bombing of five churches in Iraq as criminal acts aimed at undermining Iraqi unity.
• The highest Sunni religious authority in Iraq, the Muslim Ulemas, and the largest Shiite authority, Ayatollah Ali al-Sistani, both condemned the attacks.
• The bombings killed 11 people and wounded at least 50 others.
• A Saudi diplomat was released from a London police interrogation after claiming diplomatic immunity in a child molestation case.

Sources:

• "U.S. terror targets open for business" by UPI (Aug. 2)
• "Al-Qaida threat hikes crude oil prices" by Financial Times (Aug. 2)
• "Iraq Muslims condemn church bombings" by UPI (Aug. 2)
• "Saudi diplomat escapes molestation probe" by Times of London (Aug. 2)