Crude Prices Fall as Ike Weakens
Crude fell by more than $5 a barrel as damage reports indicate Hurricane Ike spared oil rigs and refineries in the Gulf region.
Yen Makes Major Gains Gains the Dollar
As the Lehman Brother’s collapse drives down U.S. markets, a sell-off of loans financed in Japan pushes the yen to a ten-year high with the greenback.
Bear Stearns, Lehman’s, Merrill Lynch – is AIG Next?
AIG – the world’s largest insurer and long-rumored to be on the brink of collapse – spent the weekend “looking at a lot of options” after its stock dropped 45% last week. AIG is expected to announce a turn-around plan that will see the sale of assets in an attempt to keep the company from bankruptcy.
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