Wall Street tumbled today, led by financial services stocks, on concerns that the US economy’s expansion will erode amid troubles in the mortgage industry.

London shares closed near to their highest level this year today as investors welcomed falling oil prices and the conclusion of the election in Iraq.

"WE'RE off life support" was how new Leeds chairman Gerald Krasner today described the club that appear to have found a new lease of life.

Cash-strapped Leeds are tomorrow expected to be taken over by the Yorkshire-based consortium who have spent the last two months putting together their bid.

The Yorkshire-based consortium looking to takeover debt-ridden Leeds are hoping to be in place prior to next Monday’s Elland Road clash with Manchester City.

LEEDS UNITED'S long battle for financial survival moved into the end game yesterday after the creditors refused to sanction a further extension to the standstill agreement.

Leeds United’s major creditors have not renewed the ‘standstill agreement’, which ran out today, but have backed the club in its bid to finalise a takeover deal.

A Yorkshire-based consortium insist they are still "going in the right direction" in their bid to take over Leeds United.

Ugandan tycoon Michael Ezra’s £60m (€88m) bid for cash-strapped Leeds is reportedly being held up over a technicality regarding boardroom composition.

Leeds have today been granted a further extension to their standstill agreement by the principle creditors who are continuing to mull over a buy-out bid from a Yorkshire-based consortium.

A Yorkshire-based consortium have stepped up negotiations as they look to complete a takeover of debt-ridden Leeds.

LEEDS chief executive Trevor Birch has won his latest battle with the club’s creditors by gaining a further extension of the standstill period until next Friday.

LEEDS chairman Trevor Birch yesterday demanded a united front from all within Elland Road after securing the club's future until the end of the season.

A YORKSHIRE-BASED consortium have moved a step closer towards securing a £20m buy-out of cash-strapped Leeds.

A representative of the consortium hoping to takeover debt-ridden Leeds has confirmed they are in “serious negotiations with the club and the bondholders”.

LEEDS’ acting-chairman Trevor Birch has been given just another seven days to find the funds which will prevent the club falling into the hands of administrators.

The acting chairman of Leeds United was today given seven days to find the £5m (€7.2m) funds which would prevent the club falling into the hands of administrators.

LEEDS face another day of reckoning today but it is one they are likely to survive — for now at least.

LEEDS appear poised to bide their time should they choose to go into administration due to acting-chairman Trevor Birch’s apparently healthy relationship with the club’s creditors.

The US Government is investigating trading in shares of 38 companies, including major airlines, cruise lines, General Motors and Raytheon, to determine if people used advance knowledge of the terror attacks to profit.