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US Senate urged to back revised bank rescue
The US Senate prepared to vote on Wednesday on a revised -billion plan aimed at halting the worst financial crisis since the Great Depression.
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Pressure mounts on US over rescue package
Pressure mounted on lawmakers to agree on a -billion financial rescue plan after talks at the White House broke down in acrimony.
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Lehman takes $700m hit from credit crunch
The Wall Street investment bank Lehman Brothers has revealed that the global credit crunch knocked -million off its revenue over the summer as mortgage-backed securities plummeted in value. Lehman blamed an ”extremely difficult environment” in global financial markets for a 3% drop in its third-quarter profits to -billion.
