Lehman Brothers has rushed its trading statement forward by a week to today, amid fears that the investment bank would fail to raise much-needed capital to shore up its finances, The Guardian reports.
Shares in Lehmann Brothers fell by 45% last night, plunging Wall Street back into a state of high anxiety. The Dow Jones index of leading shares closed more than 280 points lower, almost entirely erasing the gains made on Monday when the markets had reacted with enthusiasm to the bail-out of stricken mortgage finance firms Freddie Mac and Fannie Mae. The company will release its third-quarter results at 12.30pm BST (7.30am New York time), along with a disclosure of “key strategic initiatives”. According to the Wall Street Journal this morning, it is planning to separate some of its di...
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