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Lehman Brothers, one of the largest investment banks in the United States, filed for bankruptcy in the early hours of September 15, 2008, after an exodus of clients, drastic falls in its stock prices and downgrades by credit rating agencies. Its collapse has been described as a key point in the global financial crisis, with some commentators referring to a “Lehmans Moment”.
- Citigroup said its base case is that Brent would average US$17 a barrel or lower in the second quarter, with a bear case of a US$5 average
- Oil has been battered by the fight against Covid-19, which is expected to reverse global demand growth, and a battle for market share between Saudi and Russia
Hong Kong followed the United States, Australia and Malaysia in announcing an interest-rate cut in response to the economic impact of the coronavirus outbreak.
Hong Kong followed the United States, Australia and Malaysia in announcing an interest-rate cut in response to the economic impact of the coronavirus outbreak.
Bill was passed by the House of Councillors on Friday, amid criticism that the government should first focus on reducing the number of children on waiting lists.
Bill was passed by the House of Councillors on Friday, amid criticism that the government should first focus on reducing the number of children on waiting lists.
The US$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.
The US$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.
On Monday, it will be six years since the collapse of Lehman Brothers. With the US economy still operating below par and Europe struggling to stay above water, the question is whether the right medicine was given after 2008.
On Monday, it will be six years since the collapse of Lehman Brothers. With the US economy still operating below par and Europe struggling to stay above water, the question is whether the right medicine was given after 2008.