When Lehman Brothers collapse in 2008, it created a global economy setback. Global financial authorities work hard to prevent it from recurring. Now, they introduced new rules for the world's biggest banks to increase their cash reserve and avoid taxpayers bailouts.
The Financial Conduct Authority banned Weaving Capital (UK) Ltd. Founder Magnus Peterson from working in the financial industry as part of a closure in one of the biggest scandals in the country.
Investment bank Stifel Financial Corp (SF.N) is in advanced negotiations to acquire Barclays Plc's (BARC.L) U.S wealth management unit, according to three people familiar with the situation.
Russia's central bank has been forced to step up its gold buying this year to absorb domestic production that Western sanctions are making it hard for miners to sell abroad, and to boost liquidity in its foreign reserves, sources said.
Barclays Plc's (BARC.L) auction of its index business, which includes the widely used Barclays U.S. Aggregate Bond Index, has hit a snag, after would-be buyers realized some crucial bond pricing data that does not belong to the British bank will not be part of the package, two people familiar with the situation said.
The $700 trillion financial derivatives industry has agreed to a fundamental rule change from January to help regulators to wind down failed banks without destabilising markets.
Former Lehman Brothers Holdings Chief Executive Officer Richard Fuld Jr. and OpenMatch Holdings are involved in a deal to buy the Jersey City-based National Stock Exchange (NSX), the Wall Street Journal reported, citing people familiar with the matter.
Monday marks the sixth anniversary of the bankruptcy filing of Lehman Brothers, a key event in the Wall Street meltdown that led to the Great Recession. The recession wreaked havoc on the retirement plans of millions of Americans, and two studies released last week suggest that most of us haven't recovered well.
Formula One needs a strong leader and Bernie Ecclestone's $100 million court settlement to end a bribery trial in Germany is positive for the sport's future, Mercedes motorsport head Toto Wolff said on Saturday.
Managers of hedge funds said to Reuters the worry over the US government defaulting on its debt payments was not as dire as they had experienced during the days leading to the collapse of financial services firm Lehman Brothers.
Lehman Brothers' Australian creditors had approved a proposed insurance payment plan that allowed the company to receive around USD48 million.
A Reuters/Ipsos polled showed Americans still harbored grudges against Wall Street five years after the fall of Lehman Brothers.
Hedge funds that gambled on Lehman Brothers expected huge payouts as administrators finished recovering assets.
The US Securities and Exchange Commission said last Saturday it did not reject a proposed settlement with fund managers at Reserve Management Co. as there was nothing to consider.
The IRS proposed reform for the money market fund industry is set to tackle tax matters.