Nomura pulls out of Lehman talks Japan's No. 1 brokerage, Nomura Holdings Inc., pulled out of talks to buy Lehman Brothers Holdings Inc.'s fixed-income operations. Tokyo-based Nomura, which earlier this week snapped up the bulk of Lehman's businesses outside of the U.S., withdrew from negotiations over the fixed-income unit after it failed to reach an agreement ahead of a deadline. Reports in Japan and the U.K. suggested the price tag would be $2, the same sum that Nomura is believed to have paid for Lehman's European and Middle Eastern operations.
- Paul Whitfield
Bankruptcy likely for remains of WaMu Bankruptcy professionals on Friday were in a quandary about what will happen next with Washington Mutual Inc. because of uncertainty about the assets held by the Seattle-based bank holding company of Washington Mutual Bank and the covenants governing its debt. But in a report issued Friday afternoon, Moody's Investors Service shed some light on the situation, noting that the $1.9 billion that J.P. Morgan Chase & Co. will pay for the bank's deposits and $4 billion in cash that WaMu has on hand still isn't enough to make senior noteholders, owed $6 billion, whole. So while it appears WaMu the parent has assets, they likely won't be enough for it to avoid bankruptcy of some type.
- Jamie Mason
Delphi to get more GM cash Delphi Corp. has been given approval to receive billions of dollars in aid from General Motors Corp. as it scurries to fashion a new plan to emerge from Chapter 11. The automaker will fork over an estimated $10.6 billion to help Delphi exit bankruptcy.-
Ben Fidler
