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Stories related to: Goldman Sachs

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Stories 41 - 60 of 63

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  • October 2007

    • Swiss Bank Giant Posts Huge Losses Amid Credit Crisis

      Wall Street Journal  |  Oct 1, 07 3:48 AM CDT

      Swiss Bank Giant Posts Huge Losses Amid Credit Crisis

      (Newser) - Switzerland's largest bank, UBS, has become the biggest casualty of the worldwide turmoil in the financial markets, reports the Wall Street Journal . The bank is expected to announced today that it has written off  $3.4 billion in fixed income assets. UBS is projecting third quarter losses of at least $516 million. More »

      Tags

      subprime mortgages  • hedge fund  • Goldman Sachs  • credit market  • UBS  • third quarter results  • fixed assets

  • September 2007

    • KKR Abandons Harman Buyout

      Bloomberg  |  Sep 21, 07 6:39 PM CDT

      KKR Abandons Harman Buyout

      (Newser) - Kohlberg Kravis Roberts and Goldman Sachs today called off their deal to buy out audio giant Harman International for $8 billion. The firms announced that a "material adverse change in Harman's business has occurred,'' one of the limited circumstances in which they could abandon the deal without getting stuck with a $225 million break-up fee, Bloomberg reports. More »

      Tags

      Goldman Sachs  • KKR

    • Stocks Dip After Two-Day Spike

      Wall Street Journal  |  Sep 20, 07 3:34 PM CDT

      Stocks Dip After Two-Day Spike

      (Newser) - Stocks fell today after two days of bullish investing set off by the Fed’s interest rate cuts; one trader told the Journal profit-taking would have taken its toll "even if there was no news whatsoever.” But there was news: FedEx cut its profit forecast; the dollar continued to hit new lows and the price of oil new highs. The Dow dropped 48.86 to 13,766.7, while the Nasdaq fell 12.19 to 2,654.29 and the S&P slipped 10.28 to 1,518.75.  More »

      Tags

      Federal Reserve  • S&P 500  • Nasdaq  • oil  • Dow Jones  • Goldman Sachs  • FedEx

    • Goldman Up Whopping 76% in 3rd Quarter

      Wall Street Journal  |  Sep 20, 07 10:20 AM CDT

      Goldman Up Whopping 76% in 3rd Quarter

      (Newser) - Two financial giants posted dramatic earnings this morning: Goldman Sachs wowed investors with a 79% surge in third quarter net income, while Bear Stearns’ dropped 61% thanks to massive hedge-fund losses. The two were on opposite sides of the subprime collapse. Bear Stearns is among the top packagers of mortgage-based securities, which Goldman short-sold for huge gains. More »

      Tags

      stock market  • Bear Stearns  • stocks  • Goldman Sachs  • finance

  • August 2007

    • Wall Street Bonuses To Sink

      Bloomberg  |  Aug 22, 07 12:31 AM CDT

      Wall Street Bonuses To Sink

      (Newser) - The credit crisis, which has surged across the global financial infrastructure like a tsunami, washing away millions of share prices, is about to hit one of Wall Street's most hallowed traditions —the fat bonus. The extra pay for all but an elite few may be cut for the first time in five years, Bloomberg reports. More »

      Tags

      credit crisis  • Wall Street  • Bear Stearns  • private equity  • hedge fund  • Goldman Sachs  • bonuses  • Options Group

    • Romney Has Major Stake in Sinking Fund

      TheStreet  |  Aug 16, 07 7:23 PM CDT

      Romney Has Major Stake in Sinking Fund

      (Newser) - Former Massachusetts  Governor Mitt Romney has a substantial investment in a teetering Goldman Sachs hedge fund that was propped up with a $3 billion cash infusion after it lost a third of its value. Romney, who won a symbolic victory in Iowa's GOP straw poll last weekend, is thought to have least $1M in the Global Equity Opportunities Fund, reports thestreet.com. More »

      Tags

      Mitt Romney  • Iowa  • hedge fund  • Goldman Sachs  • bank  • campaign contributions  • straw poll

    • Goldman Hedge Fund Gets $3B Infusion

      Bloomberg  |  Aug 13, 07 11:38 AM CDT

      Goldman Hedge Fund Gets $3B Infusion

      (Newser) - A struggling Goldman Sachs hedge fund will get a $3 billion cash infusion, with a third of the bail-out coming from wealthy investors and the rest from the bank itself. Global Equity Opportunities Fund has seen assets drop by 28%, to $3.6 billion, over the last two weeks, as chaos in the financial markets undermined its computer-driven investment formulas, Bloomberg reported. More »

      Tags

      subprime mortgages  • hedge fund  • Goldman Sachs  • Eli Broad  • Hank Greenberg

    • Techs Surge Despite Late Drop

      Wall Street Journal  |  Aug 8, 07 4:46 PM CDT

      Techs Surge Despite Late Drop

      (Newser) - The major indexes were up again today, buoyed by the tech sector as the Nasdaq gained 51.38—more than 2%—to close at 2612.98. Losses just before the bell came close to erasing earlier gains, as rumors amplified that Goldman Sachs would liquidate a major fund and that Fannie Mae and Freddie Mac wouldn’t get regulatory permission to buy mortgage loans. More »

      Tags

      stock market  • subprime mortgages  • Bear Stearns  • Fannie Mae  • Freddie Mac  • Goldman Sachs  • Countrywide Financial  • Cisco

  • July 2007
  • June 2007

    • Bain Buys Out Guitar Center

      Wall Street Journal  |  Jun 27, 07 5:40 PM CDT

      Bain Buys Out Guitar Center

      (Newser) - Bain Capital sealed a deal today to buy out Guitar Center, a California-based retail chain specializing in musical instruments, for $1.9 billion. The deal was reached after a secret auction conducted by Goldman Sachs; the private equity firm has recently purchased a slew of publicly traded retailers. The final price of $63 a share represented a 26% premium on Guitar Center's price. More »

      Tags

      Goldman Sachs  • retail  • buyout  • Bain Capital  • retail shopping

    • Morgan Stanley 2nd Quarter Wallops Rivals

      Bloomberg  |  Jun 20, 07 10:23 AM CDT

      Morgan Stanley 2nd Quarter Wallops Rivals

      (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 second-quarter bottom lines were hit hard by the collapse of the subprime mortgage market. More »

      Tags

      subprime mortgages  • business  • Bear Stearns  • Goldman Sachs  • Morgan Stanley  • second quarter earnings  • John Mack

    • Outlook Bearish for Bear Sterns Hedge Funds

      Wall Street Journal  |  Jun 20, 07 7:02 AM CDT

      Outlook Bearish for Bear Sterns Hedge Funds

      (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 through the mortgage market in the weeks ahead. More »

      Tags

      subprime mortgages  • business  • Bear Stearns  • Merrill Lynch  • hedge fund  • Goldman Sachs  • Bank of America

    • Supremes Side With Banks in Antitrust Action

      Bloomberg  |  Jun 18, 07 2:40 PM CDT

      Supremes Side With Banks in Antitrust Action

      (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 action would pose a "substantial risk of injury" to US capital markets. More »

      Tags

      US Supreme Court  • Goldman Sachs  • bank  • IPO  • investors  • antitrust  • Credit Suisse  • Stephen Breyer

    • Mortgage Trouble Rattles Wall Street

      Bloomberg  |  Jun 14, 07 10:54 AM CDT

      Mortgage Trouble Rattles Wall Street

      (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 of its banking division. More »

      Tags

      US economy  • subprime mortgages  • business  • Bear Stearns  • earnings reports  • Goldman Sachs  • finance  • investment bank  • equity trading

  • May 2007

    • Zoellick Vows to Mend World Bank

      Reuters  |  May 31, 07 7:37 AM CDT

      Zoellick Vows to Mend World Bank

      (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," says the designated successor to Paul Wolfowitz. More »

      Tags

      business  • Goldman Sachs  • bank  • World Bank  • Paul Wolfowitz  • Robert Zoellick

    • Former Trade Rep to Head World Bank

      New York Times  |  May 29, 07 5:30 PM CDT

      Former Trade Rep to Head World Bank

      (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 Goldman Sachs. More »

      Tags

      business  • Henry Paulson  • Goldman Sachs  • World Bank  • resignation  • Paul Wolfowitz  • Robert Zoellick

    • Private Equity Binge Goes Wireless

      Arkansas Business Journal  |  May 21, 07 10:18 AM CDT

      Private Equity Binge Goes Wireless

      (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 company, which has been seen as a prime acquisition target. More »

      Tags

      business  • acquisitions  • private equity  • Goldman Sachs  • telecom  • leveraged buyouts  • Alltell

    • Former Exec Rails on Paydays

      Bloomberg  |  May 17, 07 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 is now the "leader in this outrageous increase.'' More »

      Tags

      Wall Street  • hedge fund  • Goldman Sachs  • salary

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