Lehman Brothers, which
owns an investment bank, a fund management business and a $US30bn (?15bn)
portfolio of real estate assets, has filed for bankruptcy protection after Bank
of America and Barclays walked away as possible buyers of the 158-year old Wall
Henry Paulson, US Treasury Secretary, and Tim Geithner, president of the New
York Federal Reserve Bank, had convened an emergency meeting in New York on
Friday evening to try to convince other banks to bail out Lehman, The
‘The board of directors … authorised the filing of the Chapter 11 petition
in order to protect its assets and maximise value,’ Lehman said today.
The bank said its customers would be able to continue to use their accounts
normally and it will take a series of actions today to enable it to continue
managing its operations, including paying staff wages.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements