The U.S. dollar may weaken and Treasury yields rise when Asian markets reopen on Monday, though any selling in response to ratings agency S&P's downgrade of the United States is likely to be tempered by the escalating crisis in the euro zone.
The S&P cut in the U.S. long-term credit rating to AA-plus is an unprecedented blow. It called the outlook "negative," signaling another downgrade is possible in the next 12 to 18 months. The U.S. dollar may weaken and Treasury yields rise when Asian markets reopen on Monday.
Tolstoy thought unhappy families were unique in their unhappiness.
Some Goldman Sachs Group Inc clients who pushed trades through its clearing division during the market rout on Thursday were unable to access information about their positions the following morning.
16.6 percent of Americans between the ages of 18 to 24 are unemployed
Former Goldman Sachs Group Inc director Rajat Gupta and the U.S. Securities and Exchange Commission are dropping litigation against each other stemming from the sprawling federal insider trading probe.
President Barack Obama has asked Timothy Geithner to stay on as Treasury secretary and a decision is expected soon, officials said on Thursday.
Kraft Foods Inc Chief Executive Irene Rosenfeld is breaking up the food giant, just 18 months after driving through the controversial acquisition of UK chocolate maker Cadbury.
Kraft aims to split its company into two distinct businesses. The company said the move could occur by the end of this year.
Web.com, an online provider of Internet services for small and medium-sized businesses, has agreed to pay about $560 million for privately held marketing and domain company Network Solutions.
With more than 14 million people out of work, consumer spending falling by the day, the GDP growth outlook remaining grim and rising inflation denting confidence of ordinary people, a massive spending cut of more than $2 trillion would be the proverbial last straw on the camel's back.
Goldman Sachs International sold HK$3.73 billion ($478.7 million) worth of shares in Industrial and Commercial Bank of China Ltd, the world's largest lender by market value, in what it said was a transaction to help a client hedge its position in the bank.
On Monday HSBC announced intentions to lay off 30,000 employees by 2013, a move that Goldman Sachs indirectly caused, says one professor.
More than a dozen traders have quit Goldman Sachs Group Inc's (GS.N) North American government bonds and derivatives trading desk in New York in recent months as the bank takes fewer risks and big bonuses for ambitious traders dry up.
Chief executives from the nation's largest financial firms on Thursday pressured the White House and Congress to reach a deal on the debt ceiling and deficit reduction, saying the consequences of inaction "would be very grave."
In a rundown patch of Detroit, enclosed by a cyclone fence and barbed wire, stands an unremarkable warehouse that investment bank Goldman Sachs has transformed into a money-making machine.
Investors punished Juniper Networks (JNPR.N) by selling its shares after the networking equipment maker joined Cisco Systems Inc (CSCO.O) in warning that this year's results will miss Wall Street projections.
For more than three years, U.S. securities regulators investigated allegations of accounting fraud at a small telecom firm called China Voice Holding Corp, but could not make a case.
Dunkin' Brands (DNKN.O) has raised $422.75 million after pricing its IPO at $19 per share, well above the range set by underwriters, signaling strong demand for this week's biggest deal.
The United States will lose its top-notch AAA credit rating from at least one major rating agency, according to a Reuters poll that also found wrangling over the debt ceiling has already damaged the economy.
The U.S. will lose its top-notch AAA credit rating from at least one major rating agency, according to a Reuters poll that also found wrangling over the debt ceiling has already damaged the economy.
At the once-feared commodity trading arms of Goldman Sachs and Morgan Stanley, the pressure to do better in the second half of this year has never been more intense.
