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’Weekend catch-up
In case you missed these (FT) stories…
Lehman in $40bn real estate sale talks
Lehman Brothers is in talks with potential buyers Blackstone and BlackRock over the sale of its $40bn portfolio of commercial real estate assets and securities in an effort to replenish its balance sheet.
Auction-rate deals top $48bn
Wall Street’s commitment to buying back auction-rate securities rose to more than $48bn on Thursday as JPMorgan and Morgan Stanley joined other banks that pledged to repurchase such debt instruments from investors,
ARS probe widens, Morgan Stanley offer rejected
Morgan Stanley said Monday it was willing to buy back about $4.5bn in auction rate securities in response to pressure from regulators, but Andrew Cuomo, New York’s attorney-general, rejected the offer as “too little,
Citi to settle over securities conflict
Citigroup is nearing an agreement to buy back at least $5bn worth of auction-rate securities and pay a $100m fine. The landmark settlement with US regulators could be announced as early as Thursday and pave the way for similar deals by other banks.
Grasso wins latest round in ‘excessive pay’ battle
A New York state appeals court panel handed Richard Grasso a partial victory on Tuesday in his effort to hang on to more than $100m in compensation paid to him by the New York Stock Exchange. In a 3-2 decision,