Lehman to file for bankruptcy, plans to sell units
NEW YORK (Reuters) - Lehman Brothers Holdings Inc said it plans to file for bankruptcy protection, but the Chapter 11 filing will not include its broker-dealer operations and other units, including Neuberger Berman.
Bank of America buys Merrill Lynch
WASHINGTON/NEW YORK (Reuters) - Bank of America Corp has agreed to acquire Merrill Lynch & Co Inc, according to people briefed on the matter, in a deal that will give the U.S. bank the world's largest brokerage.
AIG, facing liquidity crisis, seeks Fed lifeline
NEW YORK (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.
Ten banks commit to $70 billion borrowing facility
NEW YORK (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."
Paulson applauds actions to aid market stability
WASHINGTON (Reuters) - U.S. Treasury Secretary Henry Paulson said on Sunday he supported this weekend's actions by market participants, the Federal Reserve and the Securities and Exchange Commission to strengthen and enhance financial market stability.
Fannie, Freddie CEOs denied exit bonuses: report
WASHINGTON (Reuters) - U.S. regulators will not allow mortgage giants Fannie Mae and Freddie Mac to pay their departing chief executives multimillion-dollar severance packages outlined in their contracts, The Washington Post reported on Sunday.
UBS aims for quick settlement in U.S. tax probe: report
(Reuters) - Swiss bank UBS is trying to reach a settlement with the U.S. Justice Department and regulators within the next two weeks over alleged breaches by its offshore private-banking unit for rich Americans, the Financial Times reported.
Lehman failure may hurt U.S. commercial property
NEW YORK (Reuters) - A bankruptcy by Lehman Brothers may prompt the sale of its $32.6 billion of commercial real estate investments, and that just may be the jolt the U.S. property market needs to get sales started again, some real estate executives said.
Fed braces markets for likely Lehman collapse
WASHINGTON (Reuters) - The U.S. Federal Reserve on Sunday launched a series of emergency measures to calm financial markets and ease any trading disruptions that could arise from a collapse of investment bank Lehman Brothers.
Oil falls below $100 as all eyes on Ike and Wall Street banks
PERTH (Reuters) - Oil tumbled below $100 a barrel to a six-month low on early signs that Hurricane Ike may have spared key Gulf Coast infrastructure, although traders were cautious on Monday as they awaited status reports on more Texas refineries.
Name: SyroBro