Reuters - The worst of the global financial crisis is yet to come and a large U.S. bank will fail in the next few months as the world's biggest economy hits further troubles, former IMF chief economist Kenneth Rogoff said on Tuesday.

Reuters - U.S. automaker Chrysler LLC has filed a lawsuit in a Michigan court alleging supplier Johnson Controls Inc. charged inflated prices for batteries, and is seeking more than $15 million in damages, the Wall Street Journal reported on Tuesday.

Reuters - Lehman Brothers Holdings Inc has been marketing its asset management unit to a number of buyers including private equity firms, a source familiar with the situation told Reuters on Monday.

Reuters - Home builder sentiment was stuck at a record low in August, as stringent lending and a flood of foreclosed homes dragged on the real estate market, according to data from the National Association of Home Builders released on Monday.

Lehman Brothers Holdings Inc. has been taking its time as it wrestles with how to escape the problems haunting the investment bank. It probably can't wait much longer.

With the end of the New York company's fiscal third quarter less than two weeks away, some analysts are girding for a loss of $1.8 billion or more, instead of the modest profit they previously expected. If the dour projections come true, Lehman's losses since the start of March would total at least $4.5 billion -- or more than the firm churned out in profit during fiscal 2007.

We'll All Pay
For the Fed's
Loose Money Follies

In the dozen or so years until 2007, it had become as close to a global orthodoxy in economic policy making as we ever see: Central banks should target a low and stable rate of inflation.

This replaced earlier orthodoxies -- such as that central banks should maintain a fixed exchange rate with an ounce of gold, which was abandoned in 1971. Though inflation targeting left far more latitude for government officials to expand the money supply, it too ultimately proved too great a shackle on the exercise of central bank wisdom.

Reuters - General Motors Corp will roll out a major new sales promotion to U.S. dealers on Monday as it prepares events to mark the 100th anniversary of its founding, people briefed on the automaker's plans said.

Reuters - Freddie Mac's latest debt sale drew anemic demand on Monday, a day after Barron's reported an increasing likelihood the U.S. Treasury may essentially take over Freddie and rival Fannie Mae .

Reuters - Bankrupt home furnishings retailer Linens 'n Things has devised a plan to emerge from bankruptcy early next year, the New York Post reported.

Reuters - Electronic Arts Inc has decided to let its $2 billion buyout offer for Take-Two Interactive Software Inc expire on Monday, but the two video game publishers are still in private talks.