Goldman Sachs Group said quarterly earnings tumbled 82%, coming in well short of expectations.
Goldman Sachs CEO Lloyd Blankfein on Tuesday faced a blistering cross-examination from US lawmakers about the company’s behaviour toward its clients.
Embattled Goldman Sachs boss Lloyd Blankfein will tell lawmakers on Tuesday the company did not bet on the collapse of the housing market.
Tito Mboweni, former South African Reserve Bank governor, will join Goldman Sachs as an international adviser from June.
A United States Senate investigative panel has released several emails that could prove embarrassing to Goldman Sachs.
Goldman Sachs is preparing to defend itself against the US government allegations by arguing that it was unsure where housing prices were headed.
Some of the richest and most powerful people in the US are arguing about money and the world has trillions of dollars invested in the outcome.
UK launched a probe into US bank Goldman Sachs on Tuesday linked to US fraud charges that the Wall Street giant misled investors.
Goldman Sachs Group has been charged with fraud by the US Securities and Exchange Commission over its marketing of a subprime mortgage product.
Wall Street bank has recovered from the credit crunch and may pay bonuses of $900 000 this year, reports Andrew Clark.
A former Goldman Sachs Group programmer accused of stealing secret trading codes from the financial firm has been released from federal custody.
Details on stress tests measuring how well US banks will weather difficult economic conditions are to be disclosed to promote investor confidence.
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/ 12 January 2009
China posted a sharp fall in 2008 car sales growth on Monday as makers worldwide grapple with slowing demand.
Electronics company scales back unprofitable businesses ahead of an expected buyout
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/ 16 December 2008
The Fed appeared set to cut interest rates to within sight of zero on Tuesday and Japan was weighing steps to ease funding.
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/ 6 November 2008
Asian stocks slumped 7% on Thursday as more evidence that the US economy is shrinking made investors brace for a potentially deep recession.
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/ 28 October 2008
Smaller US banks have objected that they could be vulnerable to government-funded predatory takeovers as their larger rivals enjoy cash injections.
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/ 10 October 2008
United States stocks tumbled on Friday, sending the benchmark S&P 500 below 900 for the first time in five years.
The US Senate prepared to vote on Wednesday on a revised -billion plan aimed at halting the worst financial crisis since the Great Depression.
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/ 24 September 2008
World stocks steadied on Wednesday and safe-haven government bonds rose after Warren Buffett’s investment in Goldman Sachs failed to calm anxiety.
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/ 19 September 2008
Who’s to blame? Indebted Americans? Alan Greenspan? Slack credit rating agencies? Greedy and overpaid chief executives?
Oil climbed to a life-time high above a barrel on Wednesday, driven higher by a combination of long-term production worries and a near-term focus on tight fuel stocks. A United States government report later on Wednesday was expected to show crude inventories rose for a fifth straight week.
Oil held above a barrel on Wednesday, within sight of the previous session’s record high, supported by a weak United States dollar and concern about supplies. Attention will shift later to a US government report expected to show that crude inventories rose for a fifth straight time last week while petrol and distillates supplies also increased.
South African stocks hit another fresh high on Friday morning, boosted by strong gains for resources. At 11.56am, the all-share index was up 0,82%, boosted by a 1,48% rise in resources and a 2,06% gain for the platinum-mining index. Banks were up 0,37% and financials were 0,61% better. Industrial were flat (-0,03%) and the gold-mining index eased 0,80%.
Oil set a new record high of a barrel on Tuesday, the latest spurt in an advance that has seen prices double over the past 12 months. Supply disruptions in Nigeria, where a strike and attacks by militants has hit production, have helped boost a market that is nervous about any threats to supply.
UBS will cut 5 500 jobs in one the biggest purges seen so far in the financial markets crisis, as the Swiss wealth-management titan slashes at the investment bank that plunged it into turmoil. UBS also said it has a preliminary deal with United States asset manager BlackRock to sell a -billion portfolio of subprime mortgages.
Gold miner AngloGold Ashanti is to proceed with an approximate one-for-four renounceable rights offer, which would result in it issuing approximately 69,4-million ordinary shares at a minimum share price of R172, it said on Tuesday. This would raise gross proceeds of approximately R11,9-billion — or about $1,6-billion.
South African mobile services operator MTN said on Friday that it had not received any "specific proposal" from any company regarding a takeover of the company. MTN was responding to a report that India’s Bharti Airtel is considering a bid for the company.
Oil prices hit a record high a barrel on Friday as jitters over Nigerian oil supplies outweighed a rally in the dollar and fears of an economic slowdown in giant energy consumer China. United States light crude settled up ,83 at ,96 a barrel, before hitting a record . London Brent crude gained ,49 to ,92.
Fringed by dark hills of coal waste and long-shuttered collieries, Belgium’s first national park might seem a humble contender for the role of global model for conservation and economic regeneration. The pine woods and heather meadows of the Hoge Kempen Park in north-eastern Belgium sit on a small plateau above criss-crossing motorways and cooling towers.
Central banks on both sides of the Atlantic are in talks about the feasibility of mass purchases of mortgage-backed securities in a bid to solve the global credit crisis, the Financial Times said on Saturday. The newspaper, without citing sources, said the talks were at an early stage and part of a broader exchange on how to battle the turmoil in financial markets,
Oil prices extended a week-long slide on Thursday, briefly tumbling below a barrel for the first time in two weeks amid growing concerns an economic slowdown in top consumer the United States would cut global energy demand. US crude settled down 70 cents to ,84 a barrel after falling as low as ,65 earlier in the session