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Outlook The Old Lady of Threadneedle Street likes drama to be reserved firmly for the stage. So yesterday's announcement from her Financial Policy Committee on "potential amplification channels" of financial risks was characteristically short on hyperbole.

Lehman cash returned to clients

The administrator of Lehman Brothers' European division has recovered and returned another £2.1bn to the collapsed bank's clients, according to their latest update.

Barclays faces £1.4bn writedown after US ruling on Lehman deal

Barclays could be forced to take a writedown running into hundreds of millions of pounds as a result of a court ruling over its 2008 acquisition of Lehman Brothers' US business.

Homesellers cut asking prices

Asking prices for houses fell by 3 per cent over the past month, in the worst November-December performance for three years, property website Rightmove said yesterday.

Echelon clients bring lawsuit against IG

IG Group, the spread betting company, has been slapped with a €25m (£21m) lawsuit over the collapse of a Scottish wealth manager two years ago.

Business Diary: Slow going for A&L on eBay

It should have come as no surprise that branded material "liberated" from Lehman Brothers after its collapse turned up on eBay. After all, this was the bank that nearly tipped the world into financial Armageddon so its trinkets had a certain collectible appeal. But Alliance & Leicester? A dull mortgage bank swallowed up on the cheap by Banco Santander? Nonetheless, its all there. From button badges, to pen holders, to mugs, homemakers guides and even old Leicester City tops bearing its logo. Nothing's going for more than a tenner, though, which rather tells its own story.

Leading article: The triumph of the lobbyists

International co-operation on banking reform is axiomatically desirable. We live in an era of massive global capital flows and sophisticated cross-border banking. A firm like HSBC takes deposits from ordinary savers in Hong Kong but is regulated in London. Goldman Sachs collects money from clients in Europe and invests it in China. In a world of globalised finance, it makes sense for national regulators to work together.

$2bn legal bill for unwinding Lehman

The man in charge of unwinding Lehman Brothers, the collapsed investment bank, says the bankruptcy could cost $2bn in legal fees in the US alone.

Sackable offences: When push comes to shove – the elbow in all its savage guises

General Stanley McChrystal's recent sacking was brief and brutal. Even before his comments in Rolling Stone about President Obama and his aides hit the newsstands, he was summoned to the White House. General McChrystal was told not even to bother returning to Afghanistan to say farewell. He's not the first, nor likely the last, to be sacked, publicly, without any softening of the blow. Here are some others:

Leading article: There is still a common global interest

World leaders meet in Canada today for their back-to-back G8 and G20 summits in fractious mood. The climate of international co-operation that was in evidence at the height of the financial crisis two years ago has largely dissipated. Individual governments now seem to be heading off in their own separate directions.

Judge rebukes Barclays chief at Lehman hearing

Bob Diamond, head of Barclays' investment banking business, was criticised by a Manhattan judge for an "evasive" performance on the witness stand yesterday as he defended the company's acquisition of Lehman Brothers.

Andreas Whittam Smith: The dealing room had it coming

Banks have become huge organisations engaged in scores of different activities, some of them more suitable for gamblers than for sober citizens

Sean O'Grady: If Greece was Northern Rock, Spain is Lehman Brothers

Unlike the football result, Spain's financial fiasco was entirely predictable. Though her problems are not as deep-seated as those in Greece, they are more dangerous simply because the Spanish economy is so much larger than that of Greece – about five times larger, in fact. It is the sort of difference, to draw an uncomfortable analogy, between Northern Rock and Lehman Brothers.

LSE's Rolet earns £1m-plus bonus

Xavier Rolet earned a higher bonus than his predecessor in his first year at the helm of the London Stock Exchange.

Lehman Brothers to sell off art collection

Bankrupt financial group Lehman Brothers Holdings Inc plans to sell about 450 works by contemporary artists including Robert Rauschenberg at auction in September, according to court documents.

Enron play flops in US as art imitates life

It may still be one of the hottest tickets in London's West End, but on Broadway Enron, the play, has proved a financial disaster and is to close after just 15 performances.

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