AFP - The Bank of England failed to avert a banking-led slump on the London stock market on Monday despite pumping billions of pounds into money markets after the collapse of US giant Lehman Brothers.

Reuters - A radical shake-up on Wall Street and heavy losses in financial markets have recast the debate for Tuesday's Federal Open Market Committee meeting to set interest rate policy.

Reuters - The bankruptcy filing of Lehman Brothers is another blow for the hedge fund industry, though the writing has been on the wall long enough for many to have reduced their exposure to the U.S. investment bank.

Reuters - Stocks slid on Monday on cascading fears about the stability of the U.S. financial system after investment bank Lehman Brothers filed for bankruptcy and concerns grew about insurer AIG.

Reuters - Bank of America Corp's $50 billion acquisition of Merrill Lynch & Co Inc marks the end of a storied name in American finance, but also creates the nation's biggest bank by far.

Reuters - Global markets plummeted on Monday after investment bank Lehman Brothers filed for bankruptcy protection, rival Merrill Lynch agreed to be taken over and the Federal Reserve threw a life line to the battered financial industry.

Reuters - Retailers in the Houston area scrambled on Sunday to stock shelves and open stores forced to close, as they tried to meet high demand for emergency supplies in the wake of Hurricane Ike.

AP - Stocks finished another volatile session narrowly mixed Friday, as gains in the energy, utilities and materials sectors offset some of Wall Street's angst over the fate of Lehman Brothers Holdings Inc.

Reuters - U.S. securities regulators plan to take action on abusive short selling of stock before the end of the week, a source briefed on the matter said on Monday.

Reuters - Ten of the world's biggest banks on Sunday committed to establish a $70 billion borrowing facility to bolster worldwide liquidity and reduce volatility in what they called an "extraordinary market environment."

Reuters - Insurer American International Group Inc , working to stave off rating downgrades and shore up the capital of its holding company, has made an unprecedented approach to the Federal Reserve seeking $40 billion in short-term financing, the New York Times said.

Reuters - Bank of America Corp said it agreed to buy Merrill Lynch & Co Inc in an all-stock deal worth $50 billion, snagging the world's largest retail brokerage after one of the worst-ever weekends on Wall Street.

Reuters - Global financial markets were shaken to their core on Monday after Lehman Brothers filed for bankruptcy protection and Merrill Lynch agreed to be taken over as a deepening crisis took new, bigger victims.

Reuters - U.S. oil prices dropped more than $2 to a six-month low below $99 a barrel on Sunday as dealers bet on a swift recovery of the nation's energy production after Hurricane Ike and the U.S. government loaned emergency oil to two refiners.

Reuters - Former U.S. Federal Reserve Chairman Alan Greenspan on Sunday said he suspected "we will see other major financial firms fail," but it did not need to be a problem.