Newspaper wrap-up: Lehman sees possible abusive trading in its shares

Filed under: Newspapers, Magazines, Google (GOOG), Lehman Br Holdings (LEH), Bear Stearns Cos (BSC)

MAJOR PAPERS:

• According to the Wall Street Journal, troubled Ohio bank National City Corporation (NYSE: NCC) is considering a plan to sell itself to rival KeyCorp (NYSE: KEY), people familiar with the matter said.
• The Financial Times reported that Lehman Brothers Holdings Inc (NYSE: LEH) yesterday said it had sent information to the SEC about possible abusive short-selling in its shares in recent days. Lehman CFO Erin Callan said the SEC was examining whether hedge funds collaborated to drive down the bank’s share price in the days following the near collapse of The Bear Stearns Companies (NYSE: BSC).
• Colombia’s heavy oil area could hold 20B barrels of recoverable resources, the Financial Times reported, giving the country greater reserves than leading producers such as Mexico and Algeria, according to Colombia’s government.

WEB SITES:

• The Silicon Alley Insider reported that Douglas Merrill, Google Inc’s (NASDAQ: GOOG) CIO, is leaving the company to become the president of music company EMI.

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