Bloomberg Originals
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The Week Investors Feared A Lehman Déjà Vu
Posted
October 2, 2015
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848
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October 2, 2015
848
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Oct 2, 20152:20Now PlayingOctober 2 -- From London to New York to Hong Kong, the frantic question kept coming: could this be another Lehman? But nowhere did it cause more alarm than inside Glencore Plc -- the Swiss commodities giant that had suddenly found itself at the epicenter of a global panic on Monday. Shares in the Swiss commodities giant plunged 29 percent on Monday, their worst drop ever, on concerns over its $30 billion debt load. While Glencore since has regained most of the $6 billion of shareholder wealth erased in a few hours, many investors wonder if Glasenberg can hold the markets at bay.Peter Grauer, the chairman of Bloomberg LP, the parent of Bloomberg News, is a senior independent non-executive director at Glencore.
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