Goldman Sachs

Stories 341 - 351 | << Prev 

Morgan Stanley 2nd Quarter Wallops Rivals

Profits spike 40% as subprime slump smacks rest of sector

(Newser) - Morgan Stanley released far better-than-expected earnings figures today, with net income up over 40% in the last quarter. Riding strong fixed-income sales and trading figures, profits rose to $2.58 billion, up from $1.84 billion last year. That's a far cry from rivals Goldman Sachs and Bear Stearns, whose...

Outlook Bearish for Bear Sterns Hedge Funds

Managers scramble after creditors nix bailout plan

(Newser) - Two major Bear Stearns hedge funds that once controlled more than $20 billion in assets are on the brink of collapse after disastrous losses in securities backed by subprimes. The Journal reports a bailout plan that would have kept the funds afloat fractured last night, and the consequences could ripple...

Supremes Side With Banks in Antitrust Action

Credit Suisse, Goldman won't face class action suit over late-'90s IPOs

(Newser) - The Supreme Court has broadened the shield protecting companies from antitrust lawsuits, ruling in a 7-1 decision this morning that investors cannot sue 16 banks they accuse of rigging Internet-boom-era IPOs. The majority said the SEC had adequately regulated banks' actions and that opening them up to this type of...

Mortgage Trouble Rattles Wall Street
Mortgage Trouble Rattles Wall Street
Jun 14, 2007 10:54 AM CDT

Mortgage Trouble Rattles Wall Street

Bear Stearns, Goldman earnings reflect subprime bloodbath

(Newser) - Bear Stearns posted a 10% drop in quarterly earnings today, the latest victim of the subprime collapse. The country's second-largest mortgage-bond underwriter posted profits well below expectations, down nearly 33% from last year to $362 million. Goldman Sachs escaped bruised but more-or-less unscathed, with profits up 1% on the strength...

Zoellick Vows to Mend World Bank
Zoellick Vows
to Mend
World Bank
May 31, 2007 7:37 AM CDT

Zoellick Vows to Mend World Bank

Nominee sounds prepared to clean up Wolfowitz mess

(Newser) - Robert Zoellick knows he has his work cut out for him, and he says he will try to "calm the waters" if he is confirmed as World Bank president. "This institution has been through a traumatic period and there is a lot of anxiety, some frustration and anger,...

Former Trade Rep to Head World Bank
Former Trade Rep to Head World Bank
May 29, 2007 5:30 PM CDT

Former Trade Rep to Head World Bank

Bush expected to name Zoellick to replace Wolfowitz

(Newser) - President Bush will tap former US trade representative Robert Zoellick as the new World Bank prez, sources close to administration said this afternoon. Zoellick, who has spent over 20 years in government, served as deputy secretary of state and the country's top trade official until last year, when he joined...

Private Equity Binge Goes Wireless
Private Equity Binge Goes Wireless
May 21, 2007 10:18 AM CDT

Private Equity Binge Goes Wireless

Goldman Sachs, Texas Pacific Group will buy Alltel for $27.5B

(Newser) - A consortium led by the Texas Pacific Group and Goldman Sachs yesterday snapped up the nation's fifth-largest wireless provider for $27.5 billion, the largest telecom buyout ever. The $71.50 per share offer for Alltel awaits shareholder and regulatory approval and comes weeks before a scheduled auction for the...

Former Exec Rails on Paydays
Former Exec Rails on Paydays
May 17, 2007 2:22 PM CDT

Former Exec Rails on Paydays

(Newser) - Former Goldman Sachs chairman John Whitehead is appalled by Wall Street's salary binge, and he wants his ex-employer to snap out of it. In an ornery interview with Bloomberg News, Whitehead, who ran the company from 1976 to 1984, says hedge funds sparked the rush toward obscene paydays but Goldman...

KKR Dominates in '07 Buyouts
KKR Dominates in '07 Buyouts
May 14, 2007 1:18 PM CDT

KKR Dominates in '07 Buyouts

With 44% of this year's private equity deals, is firm spending too much too fast?

(Newser) - Private equity powerhouse KKR has been on a monumental spending spree this year, closing more than $120 billion in deals to date in 2007—more than twice its closest rival. Now the Financial Times wonders whether the veteran PE firm it may be hitting the market too forcefully.

BP Chief Resigns Over Lies On Gay Lover

CEO met 27-year-old on gay fetish site, not a walk in the park

(Newser) - The chief executive of U.K. energy giant BP stepped down unexpectedly today, after a court ruled he had lied about details of his relationship with a 27-year-old man, and the House of Lords decided he couldn't keep a tabloid from printing them. Lord Browne of Madingley lavished the student...

Financial Action Flees to London
Financial Action Flees
to London
Mar 20, 2007 7:24 AM CDT

Financial Action Flees to London

Goldman Sachs is now doing as much business abroad as on Wall Street

(Newser) - Wall Street’s position as the center of the financial universe—unchallenged for more than a century—is under serious threat from the City of London, according to John Gapper. London is catching up with Gotham in bond trading, already ahead in derivatives and the place to be for really...

Stories 341 - 351 | << Prev 
Most Read on Newser