Gold jumped more than 1 percent on Friday after Germany's approval for expanding the euro zone bailout fund offered temporary relief to investors, but the precious metal was heading for its worst monthly decline in three years.
With more than $140 billion worth of claimholders now supporting its proposed bankruptcy exit plan, Lehman Brothers Holdings Inc's prospects for getting the plan approved by the end of the year are brightening.
Spooked by the U.S.' recent budget standoff in Washington and the European debt crisis, U.S. chief executives' view of the economy deteriorated sharply in the third quarter, a survey released on Thursday found.
Lehman Brothers Holdings Inc unveiled the latest in a string of settlements with major financial creditors, reaching deals with Bank of America Corp and Merrill Lynch that will reduce the banks' claims against Lehman by a combined $7.5 billion.
Europe's never-ending debt saga has investors girding for volatile, unsteady currency markets for years to come.
The brunt of job cuts will likely occur in Europe and The United States.
JPMorgan Chase & Co is asking to move to federal court a lawsuit from Lehman Brothers Holdings Inc accusing it of siphoning $8.6 billion from Lehman's estate in the days leading up to its record bankruptcy.
JPMorgan Chase & Co is asking to move to federal court a lawsuit from Lehman Brothers Holdings Inc accusing it of siphoning $8.6 billion from Lehman's estate in the days leading up to its record bankruptcy.
Gold's toppling from record highs, culminating in Monday's unprecedented $120 price plunge, has investors asking whether a decade-long bull run is over. History would suggest that while gold has taken a beating, it is far from down and out.
Copper slumped to a 14-month low on Monday, adding to sharp falls from the last three weeks, as fears of a Greek debt default and the threat of a global recession sparked heightened concerns about demand for industrial metals.
Spot gold fell 5.2 percent and silver dropped by the most in three years, extending Friday's rout as investors bolted for the ultimate safe havens of cash and the dollar.
Bankers are bracing for a Greek default, and their best hope is that Europe can erect firewalls around the banking system strong enough and soon enough to prevent it from spreading to other euro-zone countries.
Bank stocks are clearly trading as if a redux of Lehman Brothers is imminent.
Lehman Brothers Holdings Inc said it will drop its appeal of a bankruptcy court's ruling upholding Barclays Plc's purchase of Lehman's North American business in 2008 to avoid an unnecessary strain on its remaining assets.
As Europe's debt crisis deepens, low-yielding U.S. government debt and the much maligned dollar are suddenly glowing more brightly than gold.
Lehman Brothers Holdings Inc said in a statement that it reached a tentative agreement with its largest foreign affiliate Lehman Brothers International Europe , related to claims between the two.
At a meeting with E.U. finance ministers, U.S. Treasury Secretary Timothy Geithner made the case for a leveraged E.U. buyout fund ala the U.S.'s successful 2008 TALF, to help address Europe’s banking crisis, but the structure and size of any beefed-up intervention mechanism remained undetermined as of Friday night in Europe.
Gold prices rebounded Friday, along with other safe-haven investments, literally hours after dropping sharply on word that the world's biggest central bankers were jointly moving to protect the eurozone's commercial financial institutions.
Gold and silver prices moved higher late Thursday after posting big losses in the New York futures market.
Gold and silver fell hard Thursday after five major central banks announced a coordinated plan to inject U.S. dollars into European banks straining under the load of the continent's sovereign debt crisis.
The world's major central banks, led by the European Central Bank and the U.S. Federal Reserve, in a coordinated effort Thursday intervened to provide dollar loans to commercial banks in an effort to maintain liquidity in Europe and check institutional investor concern about Europe's private sector banks. What will be the impact on U.S. stocks?
A bankruptcy judge has denied Lehman Brothers Holdings Inc's attempt to recover from Barclays Plc $500 million it alleges was supposed to go toward employee bonuses.