Daily News Channel
One year after the collapse of banking stalwart Lehman Brothers, the administrator of its European business says the full impact on creditors may not be known until 2010. Tony Lomas, a partner for PricewaterhouseCoopers, has been sorting through the financial remains of the banking giant’s European division since last September, when it became clear the bank would file for bankruptcy.
To: Interested parties From: John King, CNN chief national correspondent Re: The Monday Memo (CNN) — From start to finish, this week offers tests of whether economic recovery is taking root and also should answer whether months of Senate negotiations on health lead to a bill with any Republican support. First, the economy.
The five permanent members of the U.N.
UK broadcaster BSkyB said Wednesday that it had refused a request for a £50 million ($82 million) lifeline from troubled Irish sports pay-TV broadcaster Setanta, as it seeks to avoid administration. BSkyB, which is part of Rupert Murdoch’s News Corporation, was offered the live rights to 46 English Premier League football matches next season as an add-on option to its Sky Sports service
An air-supported roof over the Dallas Cowboys’ practice field collapsed during a heavy thunderstorm Saturday afternoon, leaving 12 people injured, one critically, authorities said. About 70 people, including more than two dozen of the team’s rookies, were in the facility when it was blown down shortly before 3:30 p.m
Switzerland’s largest bank will shed nearly 9,000 more employees as it tries to recover from the global financial crisis, its CEO said Wednesday. The announcement by UBS Chief Executive Officer Oswald Grubel came at the company’s annual general meeting in Zurich.
A man who collapsed and died near last week’s protests at the G-20 summit was shoved to the ground by police shortly before the collapse, according to a video of the incident posted on the Web site of the British daily The Guardian. A spokeswoman for the Independent Police Complaints Commission, which is already investigating any contact Ian Tomlinson had with police before his death, said she is certain the man in the video is Tomlinson, 47, who was pronounced dead on arrival at a hospital after his collapse on April 1. “However, that is not the question,” the spokeswoman said.
Since the revolution in 1959 Cuba has been many things to many people, but the collapse of the Soviet Union meant few have seen the island state as a vision of the future. As worries about “peak oil” grow in developed nations, the communist republic is proving to be an increasingly popular example of how to cope when the spigots run dry, for the simple reason: they’ve already been there. With the loss of supplies from oil-rich Russia in 1991, and a U.S.
Rescuers in Germany reduced the number of people they were searching for in a building collapse from nine to two, a fire department spokesman said late Tuesday. Seven people who earlier had been reported missing contacted authorities to say they were safe, the spokesman explained. The two remaining victims are men missing from a residential building heavily damaged when another building collapsed, said the spokesman.
Hundreds of German rescue workers are searching the ruins of a collapsed building in Cologne for nine people who may be trapped beneath the rubble. The collapse of the city’s historic archive damaged two other buildings, according to Carlo Schlender, a reporter for German TV station RTL, a CNN affiliate.