Union agrees to end Tube strike
Officials accepted an offer, after peace talks with management, that has ended the current stoppage, which had been planned to last 72 hours.
Millions were left facing chaos after 2,300 Rail, Maritime and Transport (RMT) members walked out on Monday.
Although the strike has been suspended, commuters were warned there will still be delays on Wednesday morning.
Transport for London (TfL) said it had clarified assurances on jobs and pensions during nine hours of talks, which broke up at about 2300 BST on Tuesday.
The union said it was waiting for the outcome of a meeting with pension trustees on Wednesday but the strike would be suspended.
Union officials will meet again on Friday before deciding whether to press ahead with a second 72-hour strike next Monday.
A spokesman for TfL said: "We are pleased the RMT has suspended its strike action at Metronet following the clarification of all jobs and pensions issues.
"We will now work to provide the best possible Tube service on Wednesday.
"However as the strike was suspended so late this evening it will take time for us to restore a full service on all Underground lines tomorrow (Wednesday).
"Passengers should check before they travel to see how Tube services are running.
"Our staff will be available to provide travel advice and assistance on Wednesday."
The strike, sparked in the wake of the collapse of maintenance firm Metronet, had closed two-thirds of the Tube network and affected 10 lines.
Prime Minister Gordon Brown described the walkout as "wholly unjustifiable".
The union launched the strike amid fears jobs could be lost and pensions affected by Metronet's collapse.
They are the Bakerloo, Central, Victoria, Circle, District, East London, Hammersmith & City, Metropolitan, and Waterloo & City.
The Piccadilly line has been suspended between Rayners Lane and Uxbridge.
Only the Jubilee and Northern lines are operating a full service.
They are maintained by another firm along with the Piccadilly line.
Analysts say the strike could cost up to £50m to the London economy
Store representatives warned the industrial walkout would deter potential shoppers.
About five million people shop around Oxford Street, Bond Street and Regent Street daily, with 250,000 people passing through Oxford Circus station.
Some analysts have estimated the Tube strike could cost the London economy up to £50m a day.
"With the congestion on the buses people are just avoiding coming in to the centre of London," said Jace Tyrell, of the New West End Company, which represents stores in the Oxford Street area.
"If this continues it will be disastrous for the West End."
"Already looking out there it's much quieter than a normal midweek shopping day."
"The effect of the strike is compounded by its timing. This week is one of the most important shopping weeks for retailers as they launch new season ranges and prepare for the build up to Christmas."
But business groups warned the effects of the RMT's strike action could have a much bigger impact.
"A three-day strike will obviously cost sales on those days but they may be made up on other days," said Richard Dodd, from the British Retail Consortium.
"The longer the strike goes on, and the more often it happens, then the more likely it is that shoppers will give up shopping in London altogether."
Business group London First attacked the union for bringing the Tube network to a virtual halt.
Baroness Jo Valentine, the group's chief executive, said: "We don't need political shenanigans, we need everyone to work together to protect and improve the Tube."
"It is time for the RMT leadership to stop posturing and to contribute positively to the future of London's Underground services."
The strike by the RMT, which has closed two-thirds of the Tube network and affected 10 lines, is over pensions and jobs following the collapse of maintenance firm Metronet.