Barclays has pulled out of talks to buy most of troubled US investment bank Lehman Brothers, the BBC has learned.
The decision, which a source close to the talks said was unlikely to change, is a setback for the rescue effort.
Barclays walked away because it was unable to obtain guarantees in relation to financial commitments faced by Lehman when markets open on Monday.
The rescue effort is being coordinated by the US Treasury and the New KDB ends Lehman investment talks ...
Fannie Mae and Freddie Mac slump ...
Australia's treasury chief takes 'wombat leave' ...
Bank's No 2 to stand down early ... York Federal Reserve.
More soon.
(BBC)
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