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the Federal Reserve than he actually felt in order to give him good standing when some of the options provided a partial way out. That is, of course exactly what happened. Just two days after Lehman filed for Chapter 11, Barclays announced that it would acquire Lehman Brothers North American investment banking and capital markets operations and supporting infrastructure. That included Lehman Brothers' New York headquarters and two data centres, all for $1.75bn, a price which the New York Times described as a ‘fire sale’ and which was much less than Lehman expected

in Lehman Brothers

occur at the North American data releases at 8.30 a.m. and 10 a.m. Eastern Time North American option expiration times. However, trading volume rises during London daytime hours and is highest when London and New York are actively trading. The volume spikes associated with the WMR 4 p.m. fix tend to be highest at month ends and quarter ends, probably reflecting larger portfolio rebalancing needs at those times. As far as volatility is concerned, the increase in trading volume around the WMR London fix is not associated with a large spike in volatility around that time

in Holding bankers to account
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Post-crisis Asia – economic recovery, September 11, 2001 and the challenges ahead

issues, enabling countries to use limited public resources to mobilize private capital, thereby promoting private debt markets (World Bank 2000b, 152–3). 350 Conclusion: after September 11, 2001 The Chiang Mai initiative About a decade ago, Malaysian Prime Minister Mahathir Mohamad proposed the creation of an exclusive “East Asian Economic Group” (EAEG) comprising the ASEAN countries, China, Japan and South Korea. Concerned as he was about the emerging trade blocs in Europe and North America, Mahathir’s undeclared objective was to persuade the mentioned countries to

in The Asian financial crisis
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Keynes, consumer rights and the new thrifty consumers

North American consumer magazine. This unfathomable range of influences, then, saw a consumer movement in the United States that was seen as coming from the political Left (in fact McCarthy even accused it of harbouring communists), but through which thrift had become about being a wise consumer in light of collective interests instilled by the New Deal, a Democrat-​inspired and yet highly commercial plan more aligned to what would be seen as Right-​wing policies in the UK. The New Deal: consuming for national economic recovery It was also against the backdrop of the

in A brief history of thrift

North America. The COMEX division of the Chicago Mercantile Exchange (CME) trades electronically during the morning but liquidity is higher at the futures exchange in the afternoon. If a larger order has to be executed, the price impact will be greater in a less liquid market. Thus, a buyer or a seller would still get a better price if it is executed in the afternoon fixing in spite of moving the price considerably before 3 p.m. in London. Secondly, the weekly or monthly price development is well explained by the S&P 500 Index, the US dollar index and crude oil prices

in Holding bankers to account
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Commission, Miller provided more of the background to ‘Armageddon’. On 15 September 2008, Lehman was party to over 10,000 derivatives contracts relating to about 1.7 million transactions, and a major participant in hundreds of substantial real estate and loan transactions. To a limited extent, Barclays' purchase of Lehman's North American Capital Markets business to BarCap for $1.75bn plus $250m. in cash for its trading assets valued at $72bn and trading liabilities worth $68bn, within five days of the beginning of bankruptcy proceedings, helped. Miller described the sale

in Lehman Brothers

growth. To facilitate this activity, in 1980 Ferranti High Technology Inc was created as a vehicle allowing Ferranti plc to acquire shares in American companies, while separately certain divisions built substantial bridgeheads in the USA.8 Of course, apart from the Canadian subsidiary which had been formed as early as 1912,9 Ferranti had been present in the USA since 1926, when Ferranti Electric Inc was created in New York as the base for the firm’s North American activities. However, as R.H. Davies discovered in the 1950s and 1960s when he ran Ferranti Electric

in Ferranti: A History

Systems Ltd (FDSL). Moreover, high interest payments, losses on other businesses and the need to put aside enormous sums for exceptional items in the balance sheet, sapped the lifeblood from Ferranti International, resulting in a litany of asset disposals that made longterm survival increasingly unlikely. In addition to these challenges, one must also add that Ferranti International was facing an extremely difficult marketplace: in the first place, with the end of the Cold War, governments across Western Europe and North America were reassessing their military budgets

in Ferranti: A History
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Issues, debates and an overview of the crisis

inflation rates in line with the appreciation of the dollar. Japanese manufacturing companies also shifted their production to North America, partly to avoid trade conflicts and partly to prepare for the North American Free Trade Area (NAFTA). A study by Frankel and Wei (1994) on the exchange-rate policy of nine East Asian countries during the period 1979 to mid-1992 has shown that the weight that was attached to the US dollar in the currency baskets of most East Asian countries ranged from 0.9 to 1.0. The only exception was the Singapore dollar, which assigned slightly

in The Asian financial crisis