The administrator for Lehman Brothers Holdings Inc plans to seek permission to remove the claims against the bank from British courts and give out assets directly to creditors, the Wall Street Journal said, citing a joint administrator for the collapsed investment bank.
The global financial crisis is probably not completely over and banks are likely to experience further setbacks, European Central Bank Governing Council member Axel Weber said in a newspaper interview released on Sunday.
Congressional approval of an Obama administration plan to create a systemic risk regulator for the U.S. economy looks more likely after lawmakers noted a change in tone by the Federal Reserve on Thursday.
Congressional approval of an Obama administration plan to create a systemic risk regulator for the U.S. economy looks more likely after lawmakers noted a change in tone by the Federal Reserve on Thursday.
Bank of America Corp CEO Kenneth Lewis announced he was retiring, after months of being dogged by a series of government investigations into the company's acquisition of Merrill Lynch last year that had become a major distraction for the biggest U.S. bank.
An Australian court has ruled that local governments can pursue financial claims against collapsed U.S. investment bank Lehman Brothers in Australia and elsewhere, a firm that is funding the litigation said on Monday.
Ambac Financial Group , Bank of America and Germany's central bank are among new entities claiming assets against Lehman Brothers after banks and investors worldwide took losses to the largest bankruptcy in U.S. history.
Morgan Stanley is outrunning archrival Goldman Sachs as 2009's busiest adviser on mergers as optimism grows that the crippling effects of the financial crisis on dealmaking may be easing.
Lehman Brothers Holdings Inc and its unsecured creditors asked a bankruptcy judge on Thursday to unseal court documents related to an investigation of the sale of Lehman's core U.S. assets to Barclays PLC .
A U.S. drive to build a more balanced global economy gained the qualified support of China on Wednesday in a sign that Group of 20 leaders may be ready to take joint action to prevent future economic crises.
China offered some support on Wednesday to U.S. plans to build a more balanced global economy, as world leaders seek to agree ways to nurture a tentative recovery and prevent future crises.
The U.S. government will have issued $7 trillion in bonds by the time the current fiscal year ends next week, but it expects the debt deluge to stabilize by mid 2010, a Treasury official said on Wednesday.
While Asia's economy has recovered from the lows hit a year ago, a bumpy road is ahead, with companies needing to shed debt burdens and increase capital bases, according to Nomura's Asia Pacific investment banking head.
Leaders from some of the largest Western powers rallied support Tuesday behind a U.S. plan to build a more balanced global economy and warned against returning to business as usual once recovery takes hold.
Support grew on Tuesday for a U.S. plan to build a more balanced global economy and leaders warned against returning to business as usual once recovery takes hold.
New York's cash-strapped Metropolitan Transportation Authority terminated three swaps with bankrupt Lehman Brothers at a bigger discount than those negotiated by other public entities, the agency's finance director said on Monday.
World leaders are likely to agree to curb bank bonuses at next week's G20 summit and want evidence recession is over before they stop spending to prop up their economies, European heads of government said on Thursday.
President Barack Obama will pledge U.S. action on financial regulatory reform at the Group of 20 summit in Pittsburgh and underscore the need for global coordination on the issue, a senior aide said on Wednesday.
Lehman Brothers Holdings Inc said on Tuesday that Barclays Capital Inc got a $8.2 billion windfall profit from excess assets it took control of in the fire sale of Lehman's U.S. brokerage business a year ago.
Macquarie Group Ltd, the Australian investment bank best known for privatizing public roads and airports, is making a big investment in Wall Street.
Federal Reserve Chairman Ben Bernanke said on Tuesday that the worst U.S. recession since the Great Depression was probably over, but the recovery would be slow and it would take time to create new jobs.
Federal Reserve Chairman Ben Bernanke said on Tuesday that the worst U.S. recession since the Great Depression was probably over, but the recovery would be slow and it would take time to create new jobs.
