U.S. stocks extended losses on Friday, with the S&P 500 briefly down more than 2 percent after Goldman Sachs was charged with fraud by the U.S.
Wall Street tumbled on Friday after a slew of big company earnings failed to meet heightened expectations, while bank shares slid, led by Goldman Sachs after it was charged with fraud by the U.S. securities market regulator.
U.S. stocks extended losses on Friday as shares of Goldman Sachs fell after the U.S. Securities and Exchange Commission said it charged the bank with fraud over subprime-related financial products.
Prosecutors are examining whether Goldman Sachs Group director Rajat Gupta gave inside information about the Wall Street bank to Galleon Group hedge fund founder Raj Rajaratnam, the Wall Street Journal said on Thursday, citing people close to the situation.
Chinese dairy products maker Taizinai, which counts Goldman Sachs and Morgan Stanley among its investors and Citigroup among its lenders, has collapsed, leaving around 3 billion yuan ($440 million) in unpaid debt, sources familiar with the matter said on Wednesday.
JPMorgan Chase & Co , led by James Jimmy Lee, and Goldman Sachs are advising United Airlines on its merger talks with US Airways , several people familiar with the matter said.
Six weeks after suffering a huge disappointment with the loss of AIA's massive IPO, equity capital markets bankers in this region received an unexpected present in their inboxes from one of China's largest banks.
Goldman Sachs Group Inc issued a spirited defense in its annual shareholder letter against allegations that it had benefited unduly from government help and bet against its own clients during the financial crisis.
Goldman Sachs Group Inc said it did not intentionally bet against securities in the mortgage market during the financial crisis, dismissing suggestions that it unfairly made money by placing bets against its clients.
As 2009 came to a close, Fifth Third Bancorp was preparing to report its sixth loss in seven quarters.
(In paragraph 35, corrects name of Regions Financial spokesman. Error appeared in previous version of story.)
California's Treasurer has sent a letter to six big banks that underwrite the state's municipal bond sales, asking what the banks' role may be in also selling credit default swaps on California debt.
America's big banks must be broken up and their risk-taking curtailed or the world's richest economy will face another massive financial crisis, former IMF chief economist Simon Johnson says in a new book.
The crumbling empire of American International Group Inc is helping to pave Wall Street with gold.
Goldman Sachs Group Inc was sued for alleged bias by a former vice president, who said the Wall Street bank consigned her to a mommy track that led to her firing while she was on maternity leave.
Goldman Sachs Group Inc was sued for alleged bias by a former vice president, who said the Wall Street bank consigned her to a mommy-track that led to her firing while she was on maternity leave.
Stock index futures pointed to a lower open on Wall Street on Wednesday, with futures for the S&P 500 down 0.6 percent, Dow Jones futures down 0.3 percent and Nasdaq 100 futures down 0.4 percent.
U.S. auto finance company GMAC Financial Services may sell its factoring business unit to Wells Fargo & Co , Bloomberg said, citing two people with direct knowledge of the matter.
The Obama administration's pay czar on Tuesday clamped down on 2010 pay at five U.S. firms that still depend on a government lifeline, but boasted that his burdensome restrictions are not sending talented workers fleeing for the exits.
Obama administration pay czar Kenneth Feinberg plans to review past compensation at 419 companies that received bailout funds, including JPMorgan Chase , Goldman Sachs , according to a source close to the Treasury Department.
Goldman Sachs Group Inc CEO Lloyd Blankfein and other top executives, pressured by public outrage to slash their bonuses, still received tens of millions of dollars in distributions from an internal investment fund in 2009.
Trading revenue at U.S. commercial banks fell 66 percent in the fourth quarter, the Office of the Comptroller of the Currency said on Friday, as uncertainty over pending derivatives legislation added to a seasonal slowdown in trading.
