AIG rescued by Fed, Barclays buys Lehman U.S. unit
NEW YORK (Reuters) - Capping an extraordinary day in financial markets, authorities pieced together an emergency $85 billion rescue of insurance company American International Group Inc to stave off a bankruptcy that could have thrown world markets into deeper turmoil.
Asia greases money markets, AIG deal fails to soothe
SINGAPORE/TOKYO (Reuters) - Japan, Australia and India pumped $33 billion into money markets on Wednesday as a U.S. government bailout of insurer AIG did little to ease a funding squeeze triggered by the crisis engulfing Wall Street.
Morgan Stanley weighing possible merger: report
SINGAPORE (Reuters) - Investment bank Morgan Stanley is weighing whether it should remain independent or merge with a bank, give the recent turbulence in the company's share price, broadcaster CNBC reported on Wednesday.
Banks, lawmaker push SEC to curb illegal shorting
WASHINGTON (Reuters) - A U.S. banking group is pressing securities regulators to clamp down on illegal short-selling after weeks of heavy selling pressure on shares of financial companies.
Barclays to pay $1.75 billion for some Lehman assets
LONDON (Reuters) - Barclays, which over the weekend balked at acquiring stricken Lehman Brothers Holdings Inc, agreed to pay about $1.75 billion (1 billion pounds) for some of the bank's prime U.S. assets following its bankruptcy filing.
China paper urges new currency order after "financial tsunami"
BEIJING (Reuters) - Threatened by a "financial tsunami," the world must consider building a financial order no longer dependent on the United States, a leading Chinese state newspaper said on Wednesday.
Investors see golden era for distressed securities
NEW YORK (Reuters) - Major investors said on Tuesday that turmoil in credit markets and the stunning collapse of big investment banks mark the beginning of a boom in turning around distressed companies or buying their debt.
Fed repaid JPMorgan $87 billion for Lehman financing
NEW YORK (Reuters) - The New York Federal Reserve intervened aggressively to shore up the U.S. financial system this week, providing at least $87 billion to help underpin trades with units of bankrupt Lehman Brothers Holdings Inc, court documents show.
SanDisk rejects $5.9 billion offer from Samsung
SEOUL/SAN FRANCISCO (Reuters) - U.S. flash memory maker SanDisk Corp rejected a $5.9 billion bid by top memory chip maker, Samsung Electronics Co Ltd , but would not rule out a deal at a better price.
Fed holds rates steady, spurning calls for cuts
WASHINGTON (Reuters) - The Federal Reserve held U.S. interest rates steady on Tuesday and showed little inclination to lower them soon, spurning calls for cuts from financial markets roiled by the bankruptcy of investment bank Lehman Brothers Holdings Inc.
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