Tony Lomas, partner at administrator PricewaterhouseCoopers (PwC), has worked on all the key financial collapses of recent times, from Enron and BCCI bank to MG Rover, but none have come close to the scale and complexity of Lehman Brothers.

Administrators of the UK arm of Lehman Brothers today said they were preparing up to US$100bn (€70bn) in claims against the US parent as the year anniversary of the bank's collapse nears.

A US bankruptcy judge approved the sale of Lehman Brothers Holdings’ prized investment management unit to a group of managers and employees.

The chief executive of the giant investment bank whose collapse set off a panic which led to the US economic rescue package took home more than €222m since 2000, he told the US Congress.

US Congress has heard that Lehman Brothers, days away from becoming the largest bankruptcy in US history, was pleading for a US rescue on one hand while steering millions in dollars to departing executives on the other.

Around 750 jobs were axed in the UK today by the administrators of collapsed investment bank Lehman Brothers’ European arm.

Japanese bank Nomura is today understood to have been chosen as preferred bidder to buy Lehman Brothers' European arm in a deal that could save at least 1,000 London jobs.

The European Central Bank (ECB) is allocating €70bn in additional funds to help bolster financial markets following the collapse of Lehman Brothers.

UK banking giant Barclays today said it was in talks over buying up some parts of the collapsed Lehman Brothers empire.

Wall Street’s overnight freefall sent Asian stock markets tumbling sharply today as investors were gripped with fears of a global financial crisis.

Shares tumbled today as US investors reacted to a stunning reshaping of the landscape of Wall Street.

UK staff of collapsed investment bank Lehman Brothers face the prospect of not being paid this week, administrators warned today.

Irish shares are down 4.5% this morning after the collapse of major US bank Lehman Brothers.

Thousands of jobs were at risk today after the UK arm of troubled investment bank Lehman Brothers was placed into administration.

US-based bank Lehman Brothers' UK business was placed into administration today, accountancy firm PriceWaterhouseCoopers said.

Asian stock markets were down sharply today amid growing alarm over the world’s financial system as investors braced for a seismic shake-up on Wall Street involving the likely collapse of Lehman Brothers and the takeover of Merrill Lynch.

Lehman Brothers, one of the world’s largest investment banks, announced today it plans to file for bankruptcy protection – a move expected to rock global financial markets.