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Archive for October 6th, 2008Congress grills Lehman boss over 500-million dollar wagesPosted by UK Economy News
In UK financial news
6Oct 08 US lawmakers Monday grilled the head of Lehman Brothers demanding he justify some 500 million dollars he had earned since 2000, as well as huge bonuses sought for top executives even as the bank failed.
Read full story Wachovia and suitors to halt litigationPosted by UK Economy News
In UK financial news
6Oct 08 Wachovia Corp and suitors Wells Fargo & Co and Citigroup Inc agreed on Monday to halt all litigation until noon Wednesday in hopes of deciding the winner of the troubled North Carolina-based bank.
Read full story Comments Off Toronto stocks plunge on recession worriesPosted by UK Economy News
In UK financial news
6Oct 08 The Toronto Stock Exchange's main index dropped more than 5 percent on Monday, at one point recording its biggest intraday loss since Black Monday in 1987, as signs that the financial crisis was spreading to European banks sent investors in several markets running for the exits.
Read full story Comments Off Reed’s finance offer seen falling shortPosted by UK Economy News
In UK financial news
6Oct 08 The financing package offered by Reed Elsevier in the sale of its trade publication unit might come in smaller than expected, causing bidders to re-examine their offers, a source familiar with the matter said on Monday.
Read full story Comments Off Citi, Wachovia, Wells Fargo declare 2-day cooling off periodPosted by UK Economy News
In UK financial news
6Oct 08 In the face of an escalating court battle over troubled bank Wachovia, suitors Wells Fargo and Citigroup agreed Monday to a two-day "standstill" on litigation actions.
Read full story Comments Off Oil plunges below 90 dollars a barrel on financial turmoilPosted by UK Economy News
In UK financial news
6Oct 08 Crude oil nosedived below 90 dollars a barrel Monday as deepening global financial turmoil and plunging stock markets raised fears about slowing demand for energy.
Read full story Comments Off Oil plunges below 90 dollars a barrel on financial turmoilPosted by UK Economy News
In UK financial news
6Oct 08 Crude oil nosedived below 90 dollars a barrel Monday as deepening global financial turmoil and plunging stock markets raised fears about slowing demand for energy.
Read full story Comments Off Brussels at virtual standstill as Belgium gripped by strikePosted by UK Economy News
In UK financial news
6Oct 08 Brussels ground to a virtual standstill Monday with international train services halted and government offices closed as thousands of workers across Belgium protested against rising living costs.
Read full story Comments Off Brussels at virtual standstill as Belgium gripped by strikePosted by UK Economy News
In UK financial news
6Oct 08 Brussels ground to a virtual standstill Monday with international train services halted and government offices closed as thousands of workers across Belgium protested against rising living costs.
Read full story Comments Off Congress grills Lehman boss over millions in bonusesPosted by UK Economy News
In UK financial news
6Oct 08 US lawmakers Monday grilled the head of Lehman Brothers demanding to known why he had earned hundreds of millions of dollars from the failed bank, and also approved huge bonuses for top executives as it began to struggle.
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