The Nobel Prize in economics for 2010 has been awarded to two Americans and a British-Cypriot citizen for a collaborative market analysis.
The prize was awarded jointly to Peter A. Diamond of MIT, Dale T. Mortensen of Northwestern University and Christopher A. Pissarides of the London School of Economics and Political Science "for their analysis of markets with search frictions."
An update from the CNN newsdesk in London on the stories we're following on Monday:
Hungary toxic sludge - Hungarian officials have admitted that a second tide of red sludge is possible after cracks were spotted on the reservoir wall. Villages near the reservoir have been evacuated and a huge effort to build an emergency dam is under way. But does it come too late? Read the full story
Queen Elizabeth - Queen Elizabeth II is due to unveil Cunard’s new cruise ship in Southampton, southern England, which is called the Queen Elizabeth. It is thought that the ship was named after the late Queen Mother. Zain Verjee is reporting live from Southampton.