World stocks have slipped after Lehman Brothers, the fourth largest US investment bank, reported a massive third-quarter loss of about $4 billion. Lehman had already reported losses of $2.4 billion in the second quarter.
The investment bank has already taken $7 billion in credit-related write-downs and losses since the start of the global credit crisis.
No plans for an injection of fresh capital into the bank have been released after a Korean firm backed out of investing.
[Aljazeera.net]
Showing posts with label loss; stocks; global recession; us economy;. Show all posts
Showing posts with label loss; stocks; global recession; us economy;. Show all posts
Thursday, September 11, 2008
Subscribe to:
Posts (Atom)