Irish boxer found hanged September 14, 2009 BOXING: Highly-rated Irish fighter Darren Sutherland has been found dead at his Bromley home, aged 27. Sutherland, who won a bronze medal at last year’s Beijing Olympics before turning professional, was discovered hanged by promoter Frank Maloney. His death is not being treated as suspicious. Maloney said: “It is very sad and unexpected. It is [...]
Pumas get Tri-Nations go-ahead September 14, 2009 RUGBY UNION: Argentina have been invited to join South Africa, Australia and New Zealand in an expanded Tri-Nations Championship from 2012. The Pumas are currently ranked sixth in the world having finished third in the 2007 World Cup. The invitation still needs to be formally approved by the broadcasters of the Tri-Nations governing body SANZAR. [...]
BROWN AND TUC CLASH ON CUTS September 13, 2009 PRIME Minister Gordon Brown will tomorrow pave the way for a much tougher stance on public spending in a key speech to trade unionists. He will warn increasingly angry trade unionists to support him or face what he claims would be even tougher cuts from the Tories. The speech comes as tension between Labour and [...]
Boom days return for derivatives September 13, 2009 ACTIVITY on the international derivatives market rebounded to $426 trillion (£256 trillion) in the second quarter, signalling the return of risk appetite, but remained below pre-crisis levels. According to a Bank for International Settlements (BIS) report published today, total turnover of derivatives rose by 16 per cent, mainly driven by futures and options on short-term [...]
Dick Fuld: I’m sorry after all September 13, 2009 DICK Fuld, the man who presided over the collapse of US investment bank Lehman Brothers that sent shockwaves around the world, has said sorry to former staff of the firm. A year after the spectacular bank failure, it has emerged that Fuld privately confessed he spent too much time out of the office and not [...]
Paulson was right not to save Lehman September 13, 2009 SO Dick Fuld, Lehman Brothers’ former boss, has finally said sorry. The banker they nicknamed “the gorilla”, who himself lost much of his fortune in the collapse of his firm, should have apologised a long time ago to his shareholders, bondholders, staff and counterparties. But he hasn’t changed his mind on one thing: in common [...]
BLOW-BY-BLOW: LEHMAN BROTHERS’ COLLAPSE September 13, 2009 22 August 2007Lehman closes its subprime lender BNC Mortgage as the sector falls into crisis. 17 June 2008Bank posts a $2.8bn loss in just one fiscal quarter. 13 September 2008Barclays and Bank of America end buyout plans as New York Fed boss Tim Geithner holds crisis talks. 15 September 2008In the early hours, Lehman files [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 13, 2009 THE SUNDAYSThe Sunday TelegraphT-MOBILE OWNER EYES BID FOR SPRINTDeutsche Telekom has called in banking advisers to study a possible multi-billion dollar bid for Sprint Nextel, the third-largest mobile phone operator in the US. The company’s decision to call in Deutsche Bank comes hot on the heels of the agreed tie-up of its struggling T-Mobile UK [...]
Gieve astounded by US inaction September 13, 2009 The former deputy governor of the Bank of England said he was “astounded” the US government let Lehman Brothers go under, and that the bank’s collapse marked a clear moment when people lost confidence in the markets.Sir John Gieve said in an interview with Sky News yesterday he had fully expected US authorities to step [...]
J Sainsbury names Tyler September 13, 2009 SUPERMARKET chain J Sainsbury has appointed former GUS finance director David Tyler to become its next chairman. Tyler will be taking over the role of Sir Philip Hampton as head of Britain’s third largest supermarket group. Hampton earlier this year said he would relinquish the position to allow him to concentrate on his chairmanship of [...]
