Goldman Sachs Group Inc said on Tuesday fourth-quarter earnings rose 2 percent, beating expectations and capping a record year, but its shares fell after the investment bank cautioned that markets will remain challenging in the near future.
A new Goldman Sachs Group stock hedge fund could be launched with ore than $6 billion, with some investors expecting the fund to attract as much $10 billion, people familiar with the fund said. Goldman has been raising money and preparing to launch its latest fund for the past few months.
At Goldman Sachs Group, success has become something of a liability.
U.S. stocks fell on Friday after a government report showed consumer prices rose the most in more than 2 years, raising concerns over inflation.
Oil steadied near $90 on Wednesday after Goldman Sachs sharply raised its outlook for crude prices next year, offsetting concerns over a flagging U.S. economy.
U.S Stocks fell for a second day Tuesday, as major stocks fell on news of deteriorating credit markets.
Stocks fell on Tuesday after a brokerage cut its earnings outlook for major Wall Street companies and as uncertainty about the outlook for a credit crisis recovery mounted.
Morgan Stanley Co-President Zoe Cruz is retiring as the subprime mortgage crisis ends a 25-year tenure for a woman who had been seen as the front-runner to succeed Chief Executive John Mack.
Morgan Stanley Co-President Zoe Cruz is retiring as the subprime mortgage crisis ends a 25-year tenure for a woman who had been seen as the front-runner to succeed Chief Executive John Mack.
The dollar rose against the euro on Thursday after Goldman Sachs analysts said the dollar’s drop may be at an end and a new report indicated weaker consumer confidence in France, one of Europe’s key economies.
Gold fell on Thursday as the dollar rose, dulling the metal's attraction for non-U.S. investors as an alternative investment.
Apple co-founder and CEO Steve Jobs has been named as the most powerful businessman by Fortune magazine in a list which also features Lakshmi Mittal, Indra Nooyi and Ratan Tata.
Funds rose, driving 10-year note incomes to the lowest level since March 2004, as concern that subprime losses continue to extend a decrease in stocks and increased the request of fixed-income assets.
Merrill Lynch & Co Inc Co-President Greg Fleming told employees on Monday he has tremendous confidence in the company's long-term prospects and said the company's strategy is fundamentally sound. Our core businesses continue to perform well, our strategy is fundamentally sound and our incomparable global footprint and capabilities position us to take advantage of market opportunities around the world, he said.
US stocks were nearly flat in Mid-day trading on Monday, recovering after earlier losses following continued concerns over a weakening credit market and a worsening subprime mortgage situation.
The cost of Thanksgiving is soaring, according to investment bank Merrill Lynch & Co, which may help explain the gloom among U.S. consumers as they head into the holiday season.
Money management firm Blackrock has been approached by the three largest U.S. banks to run a $75 billion superfund to create a market for hard-to-trade securities imperiled by the subprime credit crisis, according to a report.
Just in time for Thanksgiving, the financial experts at Goldman Sachs -- who earned a Wall Street record profit of $9.34 billion in 2006-- are setting up a charity fund which they expect to grow to more than $1 billion within the next few years.
Deere & Co. (DE.N) reported better-than-expected earnings on Wednesday, and provided an upbeat outlook for the coming year, as strong sales to farmers worldwide offset a downturn in construction sales, especially in the United States.
Freddie Mac, the second-largest U.S. mortgage finance company, on Tuesday posted a wider third-quarter loss and missed analysts' estimates as a jump in failing loans forced it to set aside $1.2 billion. Its shares fell more than 14 percent before the market open after reporting a net loss of $2 billion, or $3.29 a share, compared with a loss of $715 million, or $1.17 a share, in the year-ago period.
Shares in Swiss-based bank UBS AG fell to a near 2-1/2 year low on Tuesday on renewed fears the group may have to make more hefty writedowns for exposure to assets hit by the subprime crisis.
Goldman Sachs issued a gloomy report on the U.S. financial services sector, saying housing prices are likely to fall a lot further, write-downs will mount and some mortgage insurers and guarantors will be forced to raise capital just to survive.
