Forex News and Rumors for September 22nd, 2008 – Afternoon Update

Mitsubishi UFG to buy up to 20% of Morgan Stanley

In a deal potentially worth $9bn, the Japanese Bank would hold a stake between 10 and 20% in the former Investment Bank. MUFG follows Nomura securities which has shown interest in Lehman’s European assets.

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Nomura to buy Lehman’s European assets

After acquiring Lehman’s Asian assets for $230 million, the Japanese Securities group is the top bidder for Lehman’s European assets, in a move that could save 700 jobs in the M&A and equity advisory divisions.

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Crude has Highest Single-Day Gains on Record

As investors worry that the proposed U.S. bailout could push down the dollar, they turn to an old standby in times of uncertainty.

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In Newest Crisis, Hedge Funds Face Chaos

Even the fast-money investors are struggling to cope with the wild swings in the markets, raising concerns that some may not survive.

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