Los Angeles: One-time financial powerhouse Lehman Brothers emerged from bankruptcy on Tuesday and is now a liquidating company whose main business in the coming years will be paying back its creditors and investors. Lehman, whose September 2008 collapse is often regarded as the height of the financial crisis, will start distributing what it expects to be a total of about $65 billion to creditors on April 17, it said in...
08:00 AM, Mar 07, 2012
Hedge funds and professional investors are always looking for countries with lower interest rates where borrowing is cheaper and then invest the same in countries with higher interest rates. Earlier, it was the Japanese yen that gave them this opportunity. After the Lehman crash, the dollar became the funding currency of choice. Investors sold dollars where interest rates were low and purchased currencies like the Indian rupee where the interest...
11:42 AM, Feb 22, 2012
New York: Dow Jones industrial average has crossed 13,000 for the first time since before the 2008 financial crisis. The Dow passed 13,000 about two hours into the trading day. Its last time there was May 20, 2008, four months before the Lehman Brothers investment bank went under. U.S stocks got help on Tuesday from a bailout deal for Greece, aimed at preventing a potentially catastrophic default, and from strong...
10:17 PM, Feb 21, 2012
Mayank Pareek won't forget the crisis of 2008 in a hurry. In November that year, less than two months after the infamous Lehman Brothers crash, India's biggest passenger car maker, Maruti Suzuki, felt its blow straight in the jaw. By the end of that month, it suddenly lost a quarter of its sales compared to the previous year. December was no better. Sales fell by another 10 per cent. By...
10:59 AM, Feb 15, 2012
New York: 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. The new board, made up of seven experts in restructuring, real estate and derivatives who are not tied to Lehman, will oversee the liquidation of tens of billions of dollars in assets...
11:04 AM, Dec 05, 2011
Bangalore: If history had had its way, SD Shibulal may have never become the CEO and MD of Infosys. Not too many people know that when Infosys was still struggling, Shibulal took a five-year sabbatical and joined Sun Microsystems. Upon his return in 1996, Narayana Murthy reinstated him at par with the other founders and senior professionals. According to old-timers, it had led to significant bad blood among the founders...
12:31 PM, May 16, 2011
Banglaore: Signifying the end of an era, Infosys on Saturday decided to appoint KV Kamath as the successor to its current Chairman NR Narayana Murthy. Thirty years from its inception, founder and chief mentor Murthy will step down as Chairman of the Board in August 2011 to give way to Kamath, the current non-executive Chairman of ICICI Bank. Kamath has been an independent director on the Infosys board since May...
06:18 PM, Apr 30, 2011
Sometime last year, NR Narayana Murthy, chairman and chief mentor at Infosys Technologies, asked Jeffrey Lehman, chairman of the nominations committee at the company, if he could take time out to meet with MS ‘Vindi' Banga over dinner in New York City. Lehman is entrusted with the task of finding Murthy's successor by July next year. Banga, one of the front runners to take over as chief executive from Patrick...
01:44 PM, Nov 02, 2010
New York: It's exactly 2 years to the day Wall Street giant Lehman Brothers filed for bankruptcy, sending shock waves across the financial world. Lehman Brothers was hurt by a decline in real estate values and a financial crisis caused by lack of liquidity. Until today, Lehman's bankruptcy is the largest bankruptcy filing in US history with holdings over $ 600 billion (USD) in assets. If the board of directors...
12:02 PM, Sep 16, 2010
Moody's says that there is always the risk of another financial shockwave. ...
08:28 PM, Sep 21, 2009
Obama said there were signs the US economy had turned a corner. ...
09:26 AM, Sep 15, 2009
Barack Obama says there should be no excuse to avoid reform. ...
08:41 AM, Sep 15, 2009
Investors lost the most, even those who had not directly invested with the institution. ...
02:27 AM, Sep 15, 2009
He spoke at Wall Street to mark a year after Lehman Brothers bankruptcy. ...
12:07 AM, Sep 15, 2009
Their bankruptcy filing a year ago triggered a chain of events around the world. ...
06:49 PM, Sep 14, 2009
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