Rising oil prices and tumbling bank shares dragged Wall Street lower on Friday, with stocks surrendering the previous session's hefty gains.
Federal prosecutors said they plan to introduce audiotape evidence at next week's trial of Raj Rajaratnam showing that the Galleon Group founder conspired with former Goldman Sachs Group Inc director Rajat Gupta to get inside tips about the Wall Street bank.
Goldman Sachs Group Chief Executive Lloyd Blankfein has agreed to testify for the U.S. government at the upcoming trial of Galleon hedge fund founder Raj Rajaratnam, the Wall Street Journal reported, citing people familiar with the matter.
Stocks fell on Friday, weighed by rising crude prices and after Wall Street posted its best one-day rise in three months on expectations February's payrolls would grow more than they did.
BofA Merrill Lynch expects subdued client activity and geo-political risks to weigh on the first-quarter earnings of large U.S. banks and downgraded shares of Citigroup Inc and Goldman Sachs Group Inc to neutral from buy.
The companies whose shares are moving in pre-market trade on Friday are: Capital One Financial, Deere & Co, Chesapeake Energy, Bank of America, Apple, Massey Energy, Citigroup and Goldman Sachs.
A sweeping insider trading case that shook the hedge fund world is finally set for trial, with onetime billionaire Raj Rajaratnam fighting to stay out of prison in a courtroom drama over corporate secrets, tapped telephones and friends-turned-government witnesses.
Goldman Sachs Group Chief Executive Lloyd Blankfein has agreed to testify for the U.S. government at the upcoming trial of Galleon hedge fund founder Raj Rajaratnam, the Wall Street Journal reported, citing people familiar with the matter.
Goldman Sachs Group Chief Executive Lloyd Blankfein has agreed to testify for the U.S. government at the upcoming trial of Galleon hedge fund founder Raj Rajaratnam, the Wall Street Journal reported, citing people familiar with the matter.
The School asserted on Wednesday that they would be retaining him in the post of Chairman of the board.
Rajat Gupta, former McKinsey’s chief and currently special adviser to the secretary-general of the United Nations on management reforms, has been accused by the Securities and Exchange Commission (SEC) of having role in a major hedge fund insider-trading case.
Twitter has no plan to go public in the near future and does not need additional funds because it is making money, the co-founder of the popular microblogging site said.
Bank of America-Merrill Lynch has poached Matthew Koder, a high profile banker from Swiss bank UBS AG , to head its corporate and investment banking business in Asia in the region's first major defection after the banker bonus season.
Federal Reserve Chairman Ben Bernanke said on Wednesday a Republican spending cut plan would not cause a big dent to U.S. economic growth, but could cost around 200,000 jobs.
A former partner of D.E. Shaw and an ex-Goldman Sachs (GS.N) partner are setting up a new firm to raise about $500 million for a China-focused private equity fund to join the growing competition for deals in the world's No.2 economy, sources told Reuters on Wednesday.
U.S. market regulator said former Goldman Sachs Group Inc and Procter & Gamble Co board member Rajat Gupta tipped Galleon hedge fund founder Raj Rajaratnam in phone calls about confidential company information. Gupta's lawyer said the allegations are baseless.
Former Goldman Sachs Group Inc director Rajat Gupta leaked secret details to Galleon Group hedge fund manager Raj Rajaratnam about Warren Buffett's plan to invest $5 billion in the Wall Street bank at the height of the financial crisis, a U.S. securities regulator charged.
Goldman Sachs Group Inc could lose up to $3.4 billion from lawsuits and other disputes over the securities it sold and underwrote, the investment bank said in its annual filing with regulators on Tuesday.
JP Morgan follows Goldman Sachs dive into social networking territory, as it is in talks of acquiring a 10 percent minority stake in micro blogging site Twitter.
A new JPMorgan Chase & Co technology fund is in talks to buy a substantial stake in Internet messaging and communications site Twitter, the Financial Times reported on Sunday, citing people familiar with the plans.
Hutchison Whampoa's ports unit is looking to raise as much as $5.8 billion in an initial public offering (IPO) in Singapore, allowing investors to tap into China's booming infrastructure business.
Swiss commodities trader Glencore has opened up talks with sovereign wealth funds in China and Qatar to bring in a cornerstone investor ahead of its planned listing on the London Stock Exchange, The Sunday Times reported.
