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The Traders Thread - Monday 15th September (TRAD)
Greystone
- 14 Sep 2008 12:16
Greystone
- 14 Sep 2008 12:17
- 4 of 35
Kyoto
- 15 Sep 2008 06:40
- 5 of 35
Kyoto
- 15 Sep 2008 06:51
- 6 of 35
Kyoto
- 15 Sep 2008 06:56
- 7 of 35
Morning all. Market reports:
Telegraph
The Times
The Times (Need to know)
FT
The Guardian
The Independent
American International Group, the world's largest insurer, is under pressure to clarify its capital position, amid concern that its balance sheet is not strong enough, as other financials began to feel the pain meted out earlier in the week to Lehman Brothers.
Capital fears for AIG and Washington Mutual
Executives at Lehman Brothers, the 158-year-old Wall Street bank that has been brought to the brink of collapse, are set for a long weekend of negotiation as potential acquirers pored over its books and regulators agitated for a deal to restore confidence to battered financial markets.
Lehman's 158-year run on Wall Street set to come to abrupt end
Barclays Capital, its investment banking arm, is understood to be most interested in making an offer for Lehman's core investment bank in a scenario that would see the 158-year-old US bank split into three.
Barclays considers Lehman Brothers bid
Sterling was one of the biggest winners on foreign-exchange markets yesterday, as fear over the fate of troubled bank Lehman Brothers prompted a dramatic sell-off in the dollar.
Sterling surges as Lehman fears hit dollar
Four lenders have announced reductions in mortgage rates with one making a cut of almost one per cent. Britain's largest lender Halifax, Lloyds TSB's lending arm Cheltenham & Gloucester, Abbey, and First Direct all announced reductions.
Mortgage rate cuts from four major lenders
Hurricane Ike last night looked set to become one of the most expensive natural disasters the insurance industry has faced, with fears that claims could reach $25 billion (13.9 billion).
Insurers braced for $25bn losses from Ike gains strength ahead of landfall in Texas
Eurozone finance ministers said today that the 15-nation region would avoid a recession but admitted they had underestimated the fallout from the US-led downturn on their economies.
European finance ministers dismiss recession
The storm clouds are gathering as the seemingly unstoppable juggernaut of double-digit Chinese growth starts to slow down.
Flaws appear in the Middle Kingdoms economic miracle
Japan's economy, the second largest in the world, is on the brink of recession, as evidence grows that the economic woes afflicting Europe and America are spreading eastwards.
Soaring commodity prices push Japan to brink of recession
Russia could be forced to use its $32bn (18bn) national wealth fund to prop up the country's financial markets, Alexei Kudrin, the country's finance minister, has admitted. Russia's stock market has tumbled almost 50pc since May and investors have pulled out billions of dollars since the invasion of Georgia in early August.
Russia may pump money into financial markets
Sunday
In principle Lehman should be allowed to go, said Roubini. But if that happens the next day there will be a run on Merrill Lynch, Goldman Sachs. Lets not pretend thats not going to happen. The systemic risk is worse now than it was with Bear Stearns. Its pretty pathetic really. They are running out of ideas.
Battle to stave off Lehman collapse
Barclays was last night considering a direct plea from Hank Paulson, the US Treasury Secretary, to assemble a cut-price rescue bid for Lehman Brothers, the investment bank which has become the latest victim of the global financial crisis.
Hank Paulson begs banks to rescue Lehman Brothers
After a tumultuous week for American markets - which had begun with Fannie Mae and Freddie Mac being taken into government conservatorship and ended with Lehman Brothers hawking itself to the highest bidder - Wall Street's most senior bankers entered the Federal Reserve Bank of New York in a sombre mood.
Lehman Brothers crisis shakes Wall Street's corridors of power
AIG, the worlds largest insurer, is planning a $20 billion (11 billion) asset sell-off as it fights to correct a record slump in its share price and braces for the impact of Hurricane Ike.
Battered insurer AIGs $20bn asset sale
The frenetic pace of lending has led to a massive hangover as prices tumble and tenants start to go bust.
British banks to start fire sales in commercial property meltdown
Smaller companies on the junior Alternative Investment Market (AIM) are being forced to borrow cash from hedge funds at "usury rates" in order to survive, Square Mile insiders have warned.
Desperate companies turn to 'usurious' hedge funds
Knight Vinke, the shareholder activist group, has slammed the competence of non-executive directors who sit on bank boards and says that they must bear some of the blame for not flagging up the risks posed by a credit crunch.
Incompetent non-execs 'put the whole system at risk'
As if the prospect of a global recession isn't enough, consider the latest threat to world economic stability: an alliance between Russia and Opec, the oil-producing cartel dominated by Saudi Arabia.
Russia's Opec bearhug is something to worry about
Monday
Lehman Brothers Holdings Inc., once the fourth-largest U.S. investment bank, said it intends to file for bankruptcy after Barclays Plc and Bank of America Corp. abandoned talks to buy the crippled firm.
Lehman Brothers to File for Bankruptcy After Suitors Drop Out
There were as many chauffeurs outside the New York Federal Reserve Bank over the weekend as there were bankers inside. Parked near the New York Fed building in Manhattan, two blocks from Wall Street, black saloons waited for the return of passengers who, between them, held the future of Lehman Brothers in their hands.
They came, they walked away from Lehman
Bank of America Corp. cemented its status as the largest U.S. consumer bank by agreeing to acquire Merrill Lynch & Co., the world's biggest brokerage firm, for about $50 billion. The bank will swap 0.8595 shares of its stock, equal to $29 a share based on Friday's closing price, for each share of New York-based Merrill Lynch, according to a statement from Bank of America today.
Bank of America Will Buy Merrill to Gain Brokerage
Troubled US insurer AIG is close to completing a deal which would see a consortium of US private equity firms inject up to $20bn (11.1bn). Kohlberg Kravis Roberts, TPG, and JC Flowers, are reported to be part of the private equity consortium putting together the emergency funding.
AIG close to completing emergency restructuring
The American International Group is seeking a $40 billion bridge loan from the Federal Reserve, as it faces a potential downgrade from credit ratings agencies that could spell its doom, a person briefed on the matter said Sunday night.
A.I.G. Seeks $40 Billion in Fed Aid to Survive
Wall Street banks were preparing for one of the most dramatic shake-ups in the finance industry's history last night as it emerged that Lehman Brothers, an investment bank with a 158-year history, was working on a plan to declare bankruptcy.
Meltdown as bank collapses
A group of banks including Bank of America Corp., Citigroup Inc. and JPMorgan Chase & Co. are putting up $70 billion for a borrowing fund aimed at providing liquidity. The Federal Reserve also said it will accept other types of securities -- including equities -- as collateral for making direct loans to investment banks, according to a joint statement today. The firms plan to use the facility beginning this week.
Banks, Firms Set Up $70 Billion Fund for Liquidity
Wall Street derivatives dealers held an unprecedented emergency trading session on Sunday afternoon in a frantic effort to prepare for the possible bankruptcy of Lehman Brothers and limit the knock-on losses of its collapse on other financial institutions.
Dealers hold emergency trading session
Goldman Sachs Group and Morgan Stanley look like survivors in Wall Street's purging of stand-alone investment banks. But the prize will be bitter. The investment banks report results this week for their fiscal third quarter, which ended in August. Analysts expect a profit from both but have slashed estimates in recent months amid the firestorm in financial markets.
Goldman, Morgan Grasp at Bitter Prize
The U.S. Federal Reserve is expected to leave benchmark lending rates unchanged at its policy meeting on Tuesday and will probably signal that borrowing costs will stay steady for several months.
Fed likely to keep rates steady, signal on hold
The government's takeover of Fannie Mae and Freddie Mac is causing headaches and confusion among players in the credit-default swap market where as much as $1 trillion of contracts need to be settled and there are differing opinions as to how.
Credit-Swap Players Puzzle Over Fan-Fred Fallout
Fears of fresh mayhem on the oil markets have abated after Hurricane Ike inflicted considerably less damage than expected in the Gulf of Mexico and skirted a crucial complex of oil refineries near Houston.
Oil markets escape Hurricane Ike mayhem
The CBI, the country's biggest business lobby group, wants a half a percentage point cut by November, and a further half a percentage cut by the spring to revive the housing market and prevent the economic downturn from becoming a long-lasting slump.
Bank of England must slash rates to 4pc to avoid slump
The flood of figures in recent weeks that illustrate just how seriously the Aim market is suffering as the economy slows has been almost unrelenting. The number of companies listed on the alternative market is declining for the first time since it was established in the middle of the last decade.
AIM hit by global flight from small-cap companies
Telegraph
The Times
The Times (Need to know)
FT
The Guardian
The Independent
American International Group, the world's largest insurer, is under pressure to clarify its capital position, amid concern that its balance sheet is not strong enough, as other financials began to feel the pain meted out earlier in the week to Lehman Brothers.
Capital fears for AIG and Washington Mutual
Executives at Lehman Brothers, the 158-year-old Wall Street bank that has been brought to the brink of collapse, are set for a long weekend of negotiation as potential acquirers pored over its books and regulators agitated for a deal to restore confidence to battered financial markets.
Lehman's 158-year run on Wall Street set to come to abrupt end
Barclays Capital, its investment banking arm, is understood to be most interested in making an offer for Lehman's core investment bank in a scenario that would see the 158-year-old US bank split into three.
Barclays considers Lehman Brothers bid
Sterling was one of the biggest winners on foreign-exchange markets yesterday, as fear over the fate of troubled bank Lehman Brothers prompted a dramatic sell-off in the dollar.
Sterling surges as Lehman fears hit dollar
Four lenders have announced reductions in mortgage rates with one making a cut of almost one per cent. Britain's largest lender Halifax, Lloyds TSB's lending arm Cheltenham & Gloucester, Abbey, and First Direct all announced reductions.
Mortgage rate cuts from four major lenders
Hurricane Ike last night looked set to become one of the most expensive natural disasters the insurance industry has faced, with fears that claims could reach $25 billion (13.9 billion).
Insurers braced for $25bn losses from Ike gains strength ahead of landfall in Texas
Eurozone finance ministers said today that the 15-nation region would avoid a recession but admitted they had underestimated the fallout from the US-led downturn on their economies.
European finance ministers dismiss recession
The storm clouds are gathering as the seemingly unstoppable juggernaut of double-digit Chinese growth starts to slow down.
Flaws appear in the Middle Kingdoms economic miracle
Japan's economy, the second largest in the world, is on the brink of recession, as evidence grows that the economic woes afflicting Europe and America are spreading eastwards.
Soaring commodity prices push Japan to brink of recession
Russia could be forced to use its $32bn (18bn) national wealth fund to prop up the country's financial markets, Alexei Kudrin, the country's finance minister, has admitted. Russia's stock market has tumbled almost 50pc since May and investors have pulled out billions of dollars since the invasion of Georgia in early August.
Russia may pump money into financial markets
Sunday
In principle Lehman should be allowed to go, said Roubini. But if that happens the next day there will be a run on Merrill Lynch, Goldman Sachs. Lets not pretend thats not going to happen. The systemic risk is worse now than it was with Bear Stearns. Its pretty pathetic really. They are running out of ideas.
Battle to stave off Lehman collapse
Barclays was last night considering a direct plea from Hank Paulson, the US Treasury Secretary, to assemble a cut-price rescue bid for Lehman Brothers, the investment bank which has become the latest victim of the global financial crisis.
Hank Paulson begs banks to rescue Lehman Brothers
After a tumultuous week for American markets - which had begun with Fannie Mae and Freddie Mac being taken into government conservatorship and ended with Lehman Brothers hawking itself to the highest bidder - Wall Street's most senior bankers entered the Federal Reserve Bank of New York in a sombre mood.
Lehman Brothers crisis shakes Wall Street's corridors of power
AIG, the worlds largest insurer, is planning a $20 billion (11 billion) asset sell-off as it fights to correct a record slump in its share price and braces for the impact of Hurricane Ike.
Battered insurer AIGs $20bn asset sale
The frenetic pace of lending has led to a massive hangover as prices tumble and tenants start to go bust.
British banks to start fire sales in commercial property meltdown
Smaller companies on the junior Alternative Investment Market (AIM) are being forced to borrow cash from hedge funds at "usury rates" in order to survive, Square Mile insiders have warned.
Desperate companies turn to 'usurious' hedge funds
Knight Vinke, the shareholder activist group, has slammed the competence of non-executive directors who sit on bank boards and says that they must bear some of the blame for not flagging up the risks posed by a credit crunch.
Incompetent non-execs 'put the whole system at risk'
As if the prospect of a global recession isn't enough, consider the latest threat to world economic stability: an alliance between Russia and Opec, the oil-producing cartel dominated by Saudi Arabia.
Russia's Opec bearhug is something to worry about
Monday
Lehman Brothers Holdings Inc., once the fourth-largest U.S. investment bank, said it intends to file for bankruptcy after Barclays Plc and Bank of America Corp. abandoned talks to buy the crippled firm.
Lehman Brothers to File for Bankruptcy After Suitors Drop Out
There were as many chauffeurs outside the New York Federal Reserve Bank over the weekend as there were bankers inside. Parked near the New York Fed building in Manhattan, two blocks from Wall Street, black saloons waited for the return of passengers who, between them, held the future of Lehman Brothers in their hands.
They came, they walked away from Lehman
Bank of America Corp. cemented its status as the largest U.S. consumer bank by agreeing to acquire Merrill Lynch & Co., the world's biggest brokerage firm, for about $50 billion. The bank will swap 0.8595 shares of its stock, equal to $29 a share based on Friday's closing price, for each share of New York-based Merrill Lynch, according to a statement from Bank of America today.
Bank of America Will Buy Merrill to Gain Brokerage
Troubled US insurer AIG is close to completing a deal which would see a consortium of US private equity firms inject up to $20bn (11.1bn). Kohlberg Kravis Roberts, TPG, and JC Flowers, are reported to be part of the private equity consortium putting together the emergency funding.
AIG close to completing emergency restructuring
The American International Group is seeking a $40 billion bridge loan from the Federal Reserve, as it faces a potential downgrade from credit ratings agencies that could spell its doom, a person briefed on the matter said Sunday night.
A.I.G. Seeks $40 Billion in Fed Aid to Survive
Wall Street banks were preparing for one of the most dramatic shake-ups in the finance industry's history last night as it emerged that Lehman Brothers, an investment bank with a 158-year history, was working on a plan to declare bankruptcy.
Meltdown as bank collapses
A group of banks including Bank of America Corp., Citigroup Inc. and JPMorgan Chase & Co. are putting up $70 billion for a borrowing fund aimed at providing liquidity. The Federal Reserve also said it will accept other types of securities -- including equities -- as collateral for making direct loans to investment banks, according to a joint statement today. The firms plan to use the facility beginning this week.
Banks, Firms Set Up $70 Billion Fund for Liquidity
Wall Street derivatives dealers held an unprecedented emergency trading session on Sunday afternoon in a frantic effort to prepare for the possible bankruptcy of Lehman Brothers and limit the knock-on losses of its collapse on other financial institutions.
Dealers hold emergency trading session
Goldman Sachs Group and Morgan Stanley look like survivors in Wall Street's purging of stand-alone investment banks. But the prize will be bitter. The investment banks report results this week for their fiscal third quarter, which ended in August. Analysts expect a profit from both but have slashed estimates in recent months amid the firestorm in financial markets.
Goldman, Morgan Grasp at Bitter Prize
The U.S. Federal Reserve is expected to leave benchmark lending rates unchanged at its policy meeting on Tuesday and will probably signal that borrowing costs will stay steady for several months.
Fed likely to keep rates steady, signal on hold
The government's takeover of Fannie Mae and Freddie Mac is causing headaches and confusion among players in the credit-default swap market where as much as $1 trillion of contracts need to be settled and there are differing opinions as to how.
Credit-Swap Players Puzzle Over Fan-Fred Fallout
Fears of fresh mayhem on the oil markets have abated after Hurricane Ike inflicted considerably less damage than expected in the Gulf of Mexico and skirted a crucial complex of oil refineries near Houston.
Oil markets escape Hurricane Ike mayhem
The CBI, the country's biggest business lobby group, wants a half a percentage point cut by November, and a further half a percentage cut by the spring to revive the housing market and prevent the economic downturn from becoming a long-lasting slump.
Bank of England must slash rates to 4pc to avoid slump
The flood of figures in recent weeks that illustrate just how seriously the Aim market is suffering as the economy slows has been almost unrelenting. The number of companies listed on the alternative market is declining for the first time since it was established in the middle of the last decade.
AIM hit by global flight from small-cap companies
Kyoto
- 15 Sep 2008 07:04
- 8 of 35
| AUSTRALIA ASX200 |
Kyoto
- 15 Sep 2008 07:06
- 9 of 35
Barclays proposed seminar on its Investment Banking and Investment Management businesses, scheduled for Monday 15 September 2008 in London and Tuesday 16 September 2008 in New York, has been postponed and will be re-arranged.
Our decision to postpone is driven by developments related to Lehman Brothers over the weekend. We confirm that Barclays considered a combination with Lehman Brothers and did not proceed because it was not possible to conclude a transaction in the best interests of Barclays shareholders.
RNS
Our decision to postpone is driven by developments related to Lehman Brothers over the weekend. We confirm that Barclays considered a combination with Lehman Brothers and did not proceed because it was not possible to conclude a transaction in the best interests of Barclays shareholders.
RNS
Kyoto
- 15 Sep 2008 07:10
- 10 of 35
Kyoto
- 15 Sep 2008 07:45
- 11 of 35
Kyoto
- 15 Sep 2008 07:50
- 12 of 35
Kyoto
- 15 Sep 2008 08:12
- 13 of 35
Kyoto
- 15 Sep 2008 08:32
- 14 of 35
Kyoto
- 15 Sep 2008 09:26
- 15 of 35
Kyoto
- 15 Sep 2008 09:31
- 16 of 35
Kyoto
- 15 Sep 2008 09:37
- 17 of 35
Kyoto
- 15 Sep 2008 09:57
- 18 of 35
Kyoto
- 15 Sep 2008 10:26
- 19 of 35
Kyoto
- 15 Sep 2008 10:37
- 20 of 35
Kyoto
- 15 Sep 2008 10:56
- 21 of 35
Kyoto
- 15 Sep 2008 11:36
- 22 of 35
Kyoto
- 15 Sep 2008 11:56
- 23 of 35
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