Barclays reaches $1.75bn deal for Lehman assets

Lehman’s investment banking and capital markets businesses will be moved over to Barclays in a $250m deal, while the UK giant has also agreed a $1.5bn purchase of the stricken investment bank’s New York head office and two other centres. Barclays will take on trading assets worth $72bn (£40bn) and $68bn (£38bn) in current liabilities, while up to 10,000 Lehman jobs will be saved. The deal is a “once in a lifetime opportunity” for the UK bank, Barclays president Robert E Diamond Jr says. “We will now have the best team and most productive culture across the world's major financial markets...