Lehman Brothers

The Wall Street investment banking model today seems confined to the pages of history after the two remaining pillars of the prototype Goldman Sachs and Morgan Stanley received approval to become banks.

Encashments have been suspended at present in the NDF Administration(NDFA) and DRL structured products linked to Lehman Brothers, it was announced today.

GE Money has hiked mortgage rates across its Igroup and First National brands after another mortgage business, part-owned by the firm, was put into administration.

The FSA from midnight last night banned the short-selling of financial stocks, in a bid to ease the extreme volatility in the beleaguered sector.

It is too early to know whether investors in structured products backed by Lehman Brothers will receive compensation, the FSCS says, as Tenet issues a warning to advisers.

Central banks around the world are to auction up to $180bn in a coordinated action to help relieve liquidity problems.

The Federal Reserve last night announced an $85bn rescue package for ailing AIG to prevent the insurer becoming the latest and largest casualty of the credit crunch.

Barclays has reached a $1.75bn (£1bn) deal with Lehman Brothers to acquire the bankrupt bank's core North American assets.

Bond investors in Lehman Brothers face an anxious few days wait to determine the losses incurred following the bank's weekend bankruptcy.

The worst of the global banking crisis engulfing stock markets has come to an end following Lehman Brothers' bankruptcy, prominent financials sector fund manager Ken Murray explains.