Edouard d'Archimbaud spent Monday night drowning his sorrows. Now he has to find a new job. Mark Hughes reports

Barclays today is in talks over buying up some parts of the collapsed Lehman Brothers empire.

You've got £1. Invest it wisely, you might end up with £2. If you had £1 and borrowed another £1, then invested them both, you would end up with £4. Even when you've paid back the £1, you have made double the profit. That's leverage.

There are lessons to learn from the failure of Lehman Brothers

UK shares continued to tumble this afternoon after the credit crunch claimed one of the world's biggest investment banks - with Britain's biggest mortgage lender the worst affected.

Thousands of jobs were at risk today after the UK arm of troubled investment bank Lehman Brothers was placed into administration.

Lehman Brothers' CEO assumed that the credit crunch would be damaging, but not fatal

Just when you thought it was safe to go back in the water ... The federal bail-out of Fannie Mae and Freddie Mac has been depicted by commentators as the "big one" that would come to mark the crescendo of the banking crisis, with the storm gradually petering out from here on in. This week's collapse in the share price of Lehman Brothers, and the separate run on confidence at Washington Mutual, demonstrates that the hurricane season is far from over.

The Lehman Brothers rescue plan got a dismal reception from Wall Street today, with shares of the battered bank plunging about 40 per cent.

A&J Mucklow; Blue Oar

As Lehmans talks to Korea Development Bank about a potential $6bn cash injection, Stephen Foley looks at the range of options the one-time bastion of Wall Street has in its battle to remain independent

Lehman Brothers is planning to axe up to 1,500 more jobs, as part of its desperate struggle to reduce costs, raise money and rebuild its battered balance sheet.

Lehman Brothers chief executive, Dick Fuld, is in a race against time to rebuild the investment bank's battered balance sheet and set out a reason for the company to remain independent amid growing calls for new leadership or a sale of the company.

Commodity prices fell by 10 per cent last month, indicating that the five-year-long commodities price boom is coming to an end and easing pressures on the Bank of England to raise interest rates this week.