Reuters - British bank Barclays is near
to a deal to buy Lehman Brothers' core U.S.
broker-dealer business, including equity, fixed income, M&A
advisory and other parts, a person familiar with the matter
said.
Reuters - American International Group Inc
shares plummeted after the insurer's credit ratings
were cut, heightening concerns it might file for bankruptcy and
cause more turmoil in global markets.
Reuters - The Federal Reserve held U.S.
interest rate steady on Tuesday, opting to soothe rattled
financial markets with central bank lending and saying it was
worried both about economic weakness and price pressures.
AP - Napster Inc., the online music community that rose from a dorm room project to became the scourge of the global recording industry, is being purchased by Best Buy Inc. for nearly $127 million as the electronics retailer tries to boost its digital music business.
AFP - US shares went into a freefall Monday as part of a global rout after a bankruptcy at Lehman Brothers stoked fears about contagion affecting world markets and the economy.
Reuters - Lehman Brothers Holdings Inc has tapped
bankruptcy expert Harvey Miller of Weil, Gotshal & Manges LLP
to help carry out its possible liquidation, the Wall Street
Journal said.
Reuters - The recently ousted chief executives of Fannie
Mae and Freddie Mac are eligible for the
pensions and 401k savings plans they built up while working for
the mortgage giants, The Wall Street Journal said, citing a
regulatory official.
Reuters - Federal Reserve policy-makers are
expected to stop short of lowering U.S. interest rates at a
meeting on Tuesday but could signal readiness to cut them
quickly if needed to protect the economy from one of the most
serious financial crises in decades.
Reuters - British bank Barclays is in
talks with Lehman Brothers to buy its core U.S.
broker-dealer business, including equity, fixed income, M&A
advisory and other parts, people familiar with the matter said.
Reuters - American International Group Inc,
thrown a $20 billion lifeline by New York state, came under
renewed pressure on Tuesday as ratings agencies downgraded the
insurer's debt and the financial sector meltdown spread.
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.
