TFN NEWS BRIEFING: Banking and insurance highlights to 09:15 BST

2008-09
15 09:02:21
1
World's central banks move to calm Lehman storm

TOKYO/FRANKFURT, Sept 15 (Reuters) - European and Asian central banks followed the U.S. Federal Reserve on Monday in trying to support markets wilting under the bankruptcy of Lehman Brothers and the sale of crisis-hit Merrill Lynch.
2008-09
15 08:47:43Lehman Brothers will not trade on LSE until position clarified - Stock Exchange

LONDON (Thomson Financial) - The London Stock Exchange said it has been advised by Lehman Brothers International (Europe) that it will not be trading on the Exchange until further clarification of its position.
2008-09
15 08:41:16Bluewater Bio in deal with Severn Trent for wastewater treatment study

LONDON (Thomson Financial) - Bluewater Bio International, the wastewater treatment company, said its UK unit has signed a letter of intent with Severn Trent Water Ltd. to conduct wastewater treatment study.
2008-09
15 08:40:04Japan's Aozora sees limited impact from Lehman-CFO

TOKYO, Sept 15 (Reuters) - Japan's Aozora Bank said its net exposure to U.S. investment bank Lehman Brothers Holdings will be 'significantly lower' than what appears in Lehman's bankruptcy filing due to collateral and hedging.
2008-09
15 08:30:08UK rate futures surge on safe-haven demand

LONDON, Sept 15 (Reuters) - British gilts and interest rate futures surged on Monday after Lehman Brothers' filing for bankruptcy protection spurred demand for safe-haven government debt.
2008-09
15 08:29:07European shares tumble on Lehman bankruptcy

LONDON, Sept 15 (Reuters) - European stocks tumbled in early trade on Monday after Wall Street firm Lehman Brothers filed for bankruptcy protection, sending fresh tremors into financial markets.
2008-09
15 08:28:37German banks' Lehman exposure manageable, govt says

BERLIN, Sept 15 (Reuters) - German banks' exposure to Lehman Brothers is 'manageable', the Finance Ministry, the Bundesbank and financial services regulator BaFin said in a joint statement on Monday.
2008-09
15 08:20:41BRIEF-D.Bundesbank, Finance Ministry say Lehman Brothers exposure 'manageable'

FRANKFURT, Sept 15 (Reuters) - Deutsche Bundesbank, BaFin and German Finance Ministry:

* say in close contact with international partners and German banks

* say in joint statement - exposure of German financial firms to Lehman Brothers is 'manageable' [e-mail] jlw
2008-09
15 08:17:53BRIEF-Axa-net Lehman debt exposure some 300 mln euros

PARIS, Sept 15 (Reuters) - Axa SA:

* Spokesman says net exposure to Lehman Brothers debt is some 300

million euros [e-mail] jlw
2008-09
15 08:09:44ECB says ready to aid orderly money markets

FRANKFURT, Sept 15 (Reuters) - The European Central Bank said on Monday it was 'ready to contribute to orderly conditions in the euro money market.'
2008-09
15 08:08:29SNB offers extra overnight liquidity at 1.90 pct

ZURICH, Sept 15 (Reuters) - The Swiss National Bank is offering extra liquidity to the money market on Monday after the U.S. bank Lehman Brothers filed for bankruptcy, offering overnight funds at 1.90 percent.
2008-09
15 07:59:40
1
French economy minister welcomes BoA/Merrill deal

PARIS, Sept 15 (Reuters) - French Economy Minister Christine Lagarde welcomed on Monday a bid by Bank of America for Merrill Lynch and said Lehman Brothers' bankruptcy filing showed the U.S. Treasury could not always bail out companies.
2008-09
15 07:35:09French economy minister welcomes BoA/Merrill deal

PARIS, Sept 15 (Reuters) - French Economy Minister Christine Lagarde on Monday welcomed the announced bid by Bank of America for Merrill Lynch and said the Lehman bankruptcy filing showed the U.S. Treasury could not always bail out firms.
2008-09
15 07:33:28PRESS DIGEST - New York Times business news - Sept 15

Sept 15 (Reuters) - Sept 15 (Reuters) - The following were the top stories in the New York Times business pages on Monday. Reuters has not verified these stories and does not vouch for their accuracy.
2008-09
15 07:30:27PRESS DIGEST - Wall Street Journal - Sept 15

Sept 15 (Reuters) - Sept 15 (Reuters) - The following were the top stories in The Wall Street Journal on Monday. Reuters has not verified these stories and does not vouch for their accuracy.
2008-09
15 07:16:07Lehman Bros.-related servicer rankings on developing watch - S&P

MUMBAI (Thomson Financial) - Standard & Poor's Ratings Services said it placed its servicer rankings on two divisions of Lehman Bros. Bank FSB, Aurora Loan Services Inc. (Aurora) and Lehman Bros. Small Business Finance Inc.
2008-09
15 07:13:11Europe stock futures tumble on Lehman bankruptcy

LONDON, Sept 15 (Reuters) - European stock index futures tumbled on Monday as Wall Street firm Lehman Brothers filed for bankruptcy protection, fuelling more fears over the struggling financial sector.
2008-09
15 07:08:46Spanish stocks - Factors to watch on Monday

MADRID, Sept 15 (Reuters) - The following Spanish stocks may be affected by newspaper reports and other factors on Monday. Reuters has not verified the newspaper reports, and cannot vouch for their accuracy:

COLONIAL

The property company will be in focus on Monday ahead of a statement due this morning and a press conference in Barcelona at 12 midday.
2008-09
15 06:47:18WRAPUP 1-AIG, facing liquidity crunch, reaches out to regulator

NEW YORK, Sept 14 (Reuters) - Insurer American International Group Inc, working to stave off rating downgrades and shore up the capital of its holding company, has made an unprecedented approach to the Federal Reserve seeking short-term financing, media reports said.
2008-09
15 06:24:44
1-U.S. SEC to act on abusive short selling
source

WASHINGTON, Sept 15 (Reuters) - U.S. securities regulators plan to take action on abusive short selling of stock before the end of the week, a source briefed on the matter said on Monday.
2008-09
15 06:20:25Italian Stocks - Factors to watch on Sept 15

MILAN, Sept 15 (Reuters) - The following factors could affect Italian markets on Monday.
2008-09
15 05:56:42Oil trades below $100 on limited damage from Ike, credit woe

SINGAPORE (Thomson Financial) - World oil traded below $100 in Asia on Monday after early assessments showed the damage to U.S. oil platforms by Hurricane Ike was not as bad as first feared, analysts said.
2008-09
15 05:54:57Bookies see European indexes down sharply on Lehman

LONDON, Sept 15 (Reuters) - European shares are set to open down sharply on Monday, financial bookmakers said, after U.S. investment bank Lehman Brother Holding Inc said it is filing for Chapter 11 bankruptcy.
2008-09
15 05:54:31BRIEF-US SEC to take action to curb short selling-source

- Sept 15 (Reuters) -

* US SEC to take action to curb illegal naked short selling before end of week-

source briefed on matter [e-mail] jlw
2008-09
15 04:53:48AIG on negative watch after stock price drop - S&P

MUMBAI (Thomson Financial) - Standard & Poor's Ratings Services signalled it may downgrade American International Group Inc. (AIG), citing a significant decline in AIG's share price and an increase in credit spreads on the company's debt.
2008-09
15 04:01:19Anxious Lehman staff in Asia await reckoning

SINGAPORE/SYDNEY, Sept 15 (Reuters) - Employees of Lehman Brothers in Asia were nervously waiting to hear their fate on Monday as the loss-making U.S.