Federal Reserve Chairman Ben Bernanke has testified the central bank had no option but to let Lehman Brothers fail despite knowing it would have "catastrophic" aftershocks.
Nouriel Roubini, the economist dubbed ‘Dr Doom' for predicting the US housing crash, believes the dollar, yen and Swiss franc may be better investments than gold if the global economy suffers a double dip.
David Einhorn, the US hedge fund manager who publicly questioned the health of Lehman Brothers before its collapse, has offloaded the majority of his stake in F&C.
Former Lehman Brothers CEO Dick Fuld believes the investment bank may have been able to survive if US authorities had given it the same assistance as its rivals.
World markets surged on Wednesday following an unexpected jump in the US manufacturing index and bullish economic figures from Asia.
More than a tenth of the 7,380 banks in the US remain at risk of failure despite the sector posting strong profit growth during the second quarter.
Neptune and Martin Currie are the latest asset managers to be linked with troubled group Gartmore, with rumours suggesting the pair have expressed an interest in acquiring a stake in the firm.
US stocks slumped to their worst August in nine years, as investors retreated on fears for the US economy.
Royce & Associates co-CIO Whitney George believes markets are entering a ‘supercycle' in M&A activity, as the subdued economic environment forces companies to attempt to acquire growth.
Whitney George, who oversees $30bn at US small-cap specialist Royce, has taken a position in Jupiter on the view asset managers will thrive as the developed world looks to increase savings.