Enron axes 4,000 staff in the US
Enron, the stricken energy trader, on Monday laid off 4,000 American employees as the implications of the biggest bankruptcy in US history rippled around the world.
Concerns about the impact of the corporate collapse rattled financial markets, as Asian, European and Us financial institutions scrambled to play down their exposure.
The Bank of Japan has put Y26,000bn (148bn) into the banking system in the past two trading days to offset liquidity concerns stemming from Enron's collapse.
Dynegy, Enron's rival and erstwhile saviour, on Monday added to the growing acrimony about the failure of the Houston-based group by counter-suing Enron for its most valuable asset, the Northern Natural Gas pipeline.
