JP Morgan annouces that it will buy Cazenove, its UK joint venture partner, for around 1 billion pounds ($1.67 billion). The two firms have been operated their joint venture since 2004 and say that the investment banking business will be continuing under the JP Morgan Cazenove brand, with most of the company's senior executives continuing in their roles. The deal values the combined joint venture at around 2 billion pounds. Cazenove (which is the Queen's stockbroker) isn't listed, but has around 1,500 shareholders, who are mostly current or former employees. Casenove is a 190 year-old company.

The last component of the Confederation Bridge was placed, crossing the Northumberland Strait, Canada. The piers are 250 metres apart and offer a ship's clearance of 172 metres in width. The 12.9 km Confederation Bridge joins Borden-Carleton, Prince Edward Island and Cape Jourimain, New-Brunswick and is the longest bridge over ice covered waters in the world. The bridge construction began in Oct 1993, and was opened on 31 May 1997. It carries two lanes of traffic 24 hours a day, seven days a week and takes approximately 10 minutes to cross at normal travelling speeds. The bridge was built curved so that drivers could see the traffic in front of them, a design chosen to reduce accidents.