Corporation News

Inflation in Europe, which is now officially in recession, is its lowest level for October of nine months since it appears from Eurostat data.

The increase of consumer prices was 3.2 percent for October on an annual basis (after 3.6 percent growth in September and 3.8 percent in August). This is the lowest level of January 2008
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The fourth largest U.S. investment bank - Lehman Brothers applied for a declaration of bankruptcy, reported Bloomberg. Thus the bank, which exists in 158 years, wound up and notes the largest bank failure in the U.S. since its debts amount to 613 billion dollars.

The two potential buyers for strapped bank have withdrawn from talks to save the institution that is another victim of credit crisis in the U.S.. Of the negotiations originally issued British bank Barclays, which was a major candidate to acquire Lehman Brothers, but was refused because of lack of opportunity to obtain guarantees from the government or from other major players on Wall Street, against losses from impaired assets to Lehman. Subsequently, about three hours later, the talks went and Bank of America, which announced that it will acquire Merill Lynch.
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Exchanges in Asia fell for the fifth consecutive day of the way to the biggest weekly decline than a year after concerns about the slowing world economic growth caused a decline in shares of financial, energy and materials sector. Decline registered all markets in Asia open to trade, such as those in Hong Kong, Indonesia and China lost more than 3 percent.
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Yesterday was registered in the U.S. serial bank failure since the beginning of the year after the Federal Corporation for deposit insurance (FDIC) closed underrun in Kansas Columbian Bank and Trus. So the bank failure in the biggest economy since the beginning of the year has already made nine.
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For the first time, the credit agency Moody’s Investors Service has declined for the last quarter of the year more ratings of companies in Eastern Europe than increased since the financial crisis in the U.S. has become ever more global dimensions, said Bloomberg.
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