Fred Hu is stepping down as a partner of Goldman Sachs, according to an internal memo, as sources said he plans to launch a new private equity fund.
Greek Finance Minister George Papaconstantinou on Tuesday proposed a ban on derivative trading techniques that increase debt costs for countries like Greece which struggle to cut their deficits.
MetLife Inc pursued AIG's foreign life insurance business for two years before finally clinching a $15.5 billion purchase that will give it beachheads in 47 nations from Peru to Bangladesh.
AIG is selling its foreign life insurance unit to MetLife Inc for about $15.5 billion, its second major asset sale in a week as it raises funds to repay a $182.3 billion U.S. government bailout.
AIG is selling its foreign life insurance unit to MetLife Inc for about $15.5 billion, in its second major asset sale in a week to repay the U.S. government billions of bailout money.
Deutsche Bank on Saturday denied a magazine report that its financing of a Greek trade deal seven years ago was questionable.
After digesting a slew of economic data, the stock market edges higher in the afternoon session as big banks and apparel retailers emerge as market leaders.
The U.S. stock market erased morning gains to trade negative for the day, despite declining unemployment claims, better than expected sales from retailers, and Greece's successful auction of its 10-year bonds.
In a Senate hearing on Tuesday titled Restoring Credit to Main Street, witnesses stated that the inability of small businesses to obtain financing is severely hindering job creation in the United States.
Goldman Sachs Group has cut the $7.5 billion fundraising target for its second infrastructure fund by more than half after failing to secure enough commitments.
Britain's Prudential will buy American International Group's Asian life insurance arm for $35.5 billion in the insurance sector's biggest deal ever, helping the bailed-out U.S. group repay a big chunk of its taxpayer debt.
U.S. regulators are closely monitoring banks' exposures to sovereign debt risk, Comptroller of the Currency John Dugan said on Monday.
Warren Buffett said out of control health care costs are a tapeworm limiting growth in an economy recovering only fitfully from the financial crisis.
NEW YORK, March 1 Reuters) - Warren Buffett said the U.S. economy has passed the worst of its troubles but faces an uneven recovery as consumers keep a tight rein on spending.
Goldman Sachs Group Inc's board has rejected demands from shareholders that the firm investigate recent compensation awards, recoup excessive compensation and reform pay practices.
American International Group Inc agreed to sell its Asian life insurance unit to Britain's Prudential Plc for about $35.5 billion, in a deal that would help the U.S. government get back billions of its bailout money, sources familiar with the matter said.
Britain's Prudential Plc plans to do a rights offering of about $20 billion to finance a $35.5 billion purchase of American International Group's Asian life insurance unit, a source familiar with the situation said on Sunday.
For executives at Bank of America Corp and Citigroup Inc, it pays to be just below the top.
Bank of America Corp's investment banking chief Thomas Montag was the company's highest paid executive in 2009, after the company assumed his contract as part of its acquisition of Merrill Lynch, according to the company's proxy filing on Friday.
The Federal Reserve expects the largest U.S. banks to make progress this year in overhauling their pay practices, while acknowledging that more dramatic changes may take longer to implement, a Fed official said on Thursday.
U.S. regulators are probing how Wall Street firms like Goldman Sachs helped debt-stricken Greece arrange derivatives deals that critics say were used to disguise the size of its budget deficits.
The Federal Reserve is examining the role that Wall Street firms including Goldman Sachs played in helping Greece arrange credit default swaps, Fed Chairman Ben Bernanke said on Thursday.
