Goldman Sachs will settle Forex lawsuit by private investors for a sum of $130 million. The lawsuit accused traders at dozen banks for rigging price, and others for manipulating foreign exchange currency rates. A final accord of judgment may be received after a few weeks. The Goldman Sachs bank stands by its decision by saying […]
A German-Berlin based global online food delivery portal company, FoodPanda /HelloFood raised USD 100 millions led by Goldman Sachs Investment Company and other existing investors such as Rocket Internet, iMENA Holdings, Phenomen Ventures and Investment AB Kinnevik. Till now, the company has raised its fund to $310 Million since its launch in 2012. FoodPanda is […]
William C. Dudley, president of the Federal Reserve Bank of New York, has warned banks to change the way employees are compensated and to undertake a few more measures to fix their corporate culture that breeds misdeeds or acclimatize to being broken up. Dudley roughed out a few ideas at a workshop on Monday attended […]
Citigroup, Bank of America, Goldman Sachs Group, Barclays, HSBC and Royal Bank of Scotland are among 13 banks whose units were sued for $1.15bn by Virginia over sale of residential mortgage-backed securities during the financial crisis. Virginia attorney general, Mark Herring, made the denunciations, which identify with the sale of securities to the state’s retirement […]
The Federal Reserve plans to hit the biggest U.S. banks with a tougher version of capital surcharge than that agreed by international regulators, so they remain less of a “too big to fail” risk to lead to a scenario similar to the eruption of financial crisis in 2008. In a testimony at a Senate hearing […]
Goldman Sachs said on Friday that it has agreed to pay $3.15 billion, its largest bill yet to resolve a government lawsuit related to the financial crisis. The settlement is said to resolve claims that it deceived Fannie Mae and Freddie Mac to end a lawsuit that was filed in 2011 by Federal Housing Finance Agency, […]
Wall Street banks are currently under pressure to improve working conditions of a new generation of bankers to fight defection and are thus raising salaries and limiting working. Banks including Goldman Sachs Group Inc., J.P. Morgan Chase & Co., Citigroup Inc., Bank of America Corp. and Morgan Stanley are planning to compensate better for many […]
China’s largest e-commerce company Alibaba Group Holding Ltd. is planning to go public in the US after it failed to reach an agreement with the Hong Kong stock exchange in regard to a listing there. The Group’s possible shift would set up the latest fight between archrivals Nasdaq OMX Group Inc. and NYSE Euronext for marquee stock listings.
After investing a considerable sum of money ranging in the millions on distribution, the Goldman Sachs Group Inc. has finally given up its attempts of trying to sell off research derived from independent analysts to its institutional consumers after coming to know that the managers who possess a lot of money have absolutely no interest in the matter.
One of the biggest news that has swept the world of entertainment and media recently is the idea of the News Corp. to split its business in two halves. As per the reports of the Wall Street Journal, the idea of the splitting of the company has been approved by its board of directors in a meeting that took place on Wednesday and lasted for nearly about an hour and a half. Though the news has not yet been officially confirmed or announced, it is very likely to be done on Thursday by the CEO and the Chairman of the Company named Rupert Murdoch.
There are two companies apart from Glaxo that are in the process of discussion to make a bid for Human Genome according to reports from sources who are familiar with the situation. Among them Celgene is at a preferable position if it at all makes a bid. As per the source who talked on condition of anonymity stated that it would be more or less a merger of equals situation even though he did not quite identify the other bidder.
Deutsche Bank AG reported a fall in its first-quarter net profit by one-third from a record level a year earlier. Deutsche Bank blames this on the sluggish client activity, which has continued to pressurize investment banking activities across the board and due to exceptional charges has resulted in the bank’s effort to reduce risks.
Citigroup made profits of $2.9 billion in the first three months of the year. Citigroup said that it had been helped by record revenue from processing transactions for its international clients and more customers repaying loans on time. Revenue fell 2 percent to $19.4 billion from the year-ago quarter.
MF Global, a now-bankrupt brokerage firm has roots that go back more than two centuries to a London trading firm. Unlike other brokerage firms, MF Global is not in the business which revolves around buying and selling of stocks or into selling of European bonds. MF Global has been in the market for a long time and it primarily focused on assisting investors on placing bets on where stocks or bonds or commodity prices are headed by selling so-called futures contracts.
In a historic win against corrupt investment practices, billionaire investor and Galleon Group founder, Raj Rajaratnam, was found guilty on 14 insider-trading and conspiracy charges on Wednesday. The long ordeal that started with Rajaratnam’s arrest in October 2009 concluded with a seven-week trial in Manhattan federal court, where the jury delivered across-the-board convictions on nine […]
The no.1 spot in BrandZ Top 100, the listing that identifies and ranks the world’s most valuable brands, has been taken by Apple this year, ending the four-year reign of search-engine giant Google. With its brand value estimated at over $153bn, the iPhone and iPad maker’s rank has been boosted significantly by the success of […]
With its most recent valuation figuring at $85billion, only about two months after Goldman Sachs, on investing in the world’s no.1 social-networking company, valued it at $50billion, Facebook sure is set to become to take over the virtual world. So what’s the most obvious market for such a rapidly growing company to be exploring next? […]
AT&T’s $39 billion blockbuster takeover of T-Mobile marks the biggest global telecom deal since AT&T’s $89.4 billion buy of BellSouth in 2006. The latest among a series of transformational deals for Morgan Stanley‘s telecom bankers, the AT&T / T-Mobile deal will mean a whooping $145 million fee for the advisors. The deal came through after a […]
What’s the latest in the raging Goldman-Sachs/Facebook love affair that has been unfolding over the last two weeks? First, Goldman Sachs invested $450 million in Facebook and followed this up by approaching its wealthiest clients to be part of a fund that would own shares in the fastest-growing social networking company, Goldman Sachs has now […]