Lehman Brothers Holdings has sued JPMorgan Chase & Co, accusing the second-largest US bank of illegally siphoning billions of dollars of assets in the days leading up to its record bankruptcy.
The lawsuit filed in Manhattan bankruptcy
Lehman Brothers Holdings told a US bankruptcy judge that Barclays should be forced to return certain assets it received in its 2008 acquisition of Lehman's core US brokerage, because Barclays arranged a secret $5 billion discount.
Nomura Holdings, Japan's biggest brokerage, will likely book a net loss of $7.2 billion for the last financial year due mainly to costs related to buying Lehman Brothers' operations, said a report.
Shares in Nomura fell nearly 4 pe
Banking and insurance clients are reportedly seeking to hire dozens of former employees from Lehman Brothers, Merrill Lynch and AIG, according to Grafdom, leading global IT consultancy and strategic management firm.
Grafdom experiences a h
American International Group Inc shares tumbled 50 percent after the giant US insurer's credit ratings were slashed, feeding market fears as top US investment bank Goldman Sachs reported sharply lower quarterly earnings.
The cost of borro
Lehman Brothers Holdings 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.
Lehman is looking at selling its broker-dealer o
The Federal Reserve Bank of New York held emergency talks with officials of major Wall Street firms as concerns grew that Lehman Brothers Holdings may fail to find a willing buyer to save the ailing institution.
Lehman executives, po
Lehman Brothers Holdings was forced into talks about a possible sale after the Wall Street investment bank's shares plunged more than 40 percent, raising questions about its survival.
Lehman and US officials were in intensive discussions a
Lehman Brothers Holdings said it plans to sell a majority stake in its investment management unit and spin off commercial real estate assets, but failed to announce specific transactions and posted a third-quarter loss of $3.93 billion.
Oil prices could fall sharply toward the end of this year or early next year as evidence of eroding demand in Asian economies slowly materialises, investment bank Lehman Brothers said in a report.
Oil prices surged to a record high above $