they have some on wall street
comparing it to lehman brothers
of 2008, but are things really
that bad?
cate kelly has the very latest
developments on that story.
kate?
>> today was a big improvement
for glencore actually from a
share performance standpoint but
the markets and banks are
remaining on high alert.
across wall street over the last
two days, banks have held
high-level meetings with the
risk managers about the health
and future of glencore and what
it would mean if the company
faced a liquidity crisis.
rumors helped fuel the stock's
nose dive yesterday even though
they appear at the moment to be
totally unfounded.
in a statement in mid afternoon
lun dub trading glencore said it
faced absolutely no solvency
issues and well on its way to
raising 10 billion in additional
capital to help bring down its
reported $30 billion in net
debt.
that's as of june 30th.
it added it has strong lines of
credit and access to funding
thanks to its long standing
relationship with banks.
some of...