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It was baptism by fire: Subbarao on early day as RBI governor

It was baptism by fire: Subbarao on early day as RBI governor

"It was baptism by fire," Duvvuri Subbarao said as he recounted his early months as governor of the Reserve Bank of India in 2008, a time when Lehman Brothers collapsed and pushed the global financial sector into a "near death" experience.


JPMorgan Chase pays $1.42 bn to settle most of Lehman Bros suit

JPMorgan Chase has agreed to pay USD 1.42 billion to settle most of the litigation relating to the bankruptcy of Lehman Brothers, according to court documents.

Market calm on Grexit an eerie recall of pre-Lehman bets

Relative calm on global markets during the latest Greek debt standoff more closely reflects the low probability assigned to a euro exit than how contained such a shock could be.

Lehman's London staff win $300 million pensions fight

More than 2,400 former Lehman Brothers bankers based in Britain will have their pensions paid in full after winning a six-year battle.

Records show Fed on edge during darkest days of 2008 crisis

Federal Reserve policymakers, in a tense meeting on one of the darkest days of the 2008 financial crisis, were worried the failure of Lehman Brothers a day earlier would wreak havoc on a teetering financial system but feared cutting already low interest rates might prove an over-reaction.

5 years post-Lehman, top banks till face trust deficit: Survey

At -1.6 percent, the institutions in North America were flat for the quarter, but had the lowest levels of confidence overall.

Hedge funds reap rewards from bet on Lehman Europe carcass

Hedge funds which gambled on how much money would be recovered from the bankrupt carcass of Lehman Brothers are set to make hundreds of millions of pounds from a full payout to creditors of the European arm.

Five years after Lehman, risk moves into the shadows

Just days after UBS AG said that it would gut its fixed-income trading business last October, three of the Swiss bank's senior executives left to launch a firm to go where big banks won't anymore.

Lehman Brothers offers to surrender trading membership of NSE

Once an iconic financial services major, Lehman went bust in September 2008 and became synonymous with one of the worst financial crisis to ever hit the US and global markets.

'Present global crisis is comparable to Lehman shock of 2008'

The present financial crisis in Europe and other countries is affecting Asian economies not just through trade or slower Asian exports, but through financial channels and can be compared to the Lehman shock of 2008, a senior ADB economist said here Tuesday.

Lehman exits bankruptcy to repay debt and vanish

The debtors of Lehman Brothers, whose stunning collapse in 2008 sparked global financial panic, emerged from a record bankruptcy today in a step toward the final chapter for the once-powerful Wall Street investment bank.

India-born exec Bhattal quits Nomura amid deep losses

Nomura said Bhattal had decided to retire from investment banking and would also resign as deputy president of Nomura Holdings.

Lehman wins court approval to exit bankruptcy

The approval was granted by US Bankruptcy Judge James Peck at a hearing in Manhattan. Lehman expects to begin payouts of an estimated USD 65 billion to creditors early next year.

Lehman Brothers close to naming a new board: WSJ

The bankruptcy estate of Lehman Brothers Holdings is close to naming a new board of directors to help finish winding down the collapsed financial firm, the Wall Street Journal said, citing people familiar with the matter.

Lehman Brothers to seek creditor vote on $65 billion payout

Lehman Brothers Holdings Inc will ask a bankruptcy judge on Tuesday to let creditors vote on its USD 65 billion payout plan, a key step toward ending the biggest bankruptcy in US history.

Lehman Bros art work to go under the hammer

Lehman Brothers art work is set to be auctioned off next month.

Fannie Mae seeks claims worth $15.8 bn from Lehman

Battered mortgage lender Fannie Mae has sought claims to the tune of USD 15.8 billion from bankrupt Lehman Brothers, mainly related to derivatives contracts.

Nomura posts Q2 profit at 27.7 bn yen

Financial services major Nomura Holdings has posted a profit of 27.72 billion yen in the second quarter, buoyed by strong growth in retail and asset management segments and expansion of its business overseas.

Lehman`s Barclays probe should be unsealed: Trustee

The US Trustee, which oversees bankruptcy cases in New York, said on Friday it believes documents related to Lehman Brothers Holdings Inc`s probe of its asset sale to a Barclays Plc unit should be made public.

Lehman administrator looks to dole out assets: Report

The administrator for Lehman Brothers Holdings Inc plans to seek permission to remove the claims against the bank from British courts and give out assets directly to creditors, the Wall Street Journal said.