Venezuela's state-run oil company will terminate all ventures with Exxon Mobil (NYSE: XOM), the biggest U.S. oil company, when arbitration proceedings conclude, Oil Minister Rafael Ramirez said.
Stocks were flat on Friday as data showed inflation remained in check last month as the domestic economy continues to improve, but consumer sentiment slipped.
Greg Smith resignation letter describing toxic atmosphere at investment bank undermines goodwill.
India, the world's No. 1 gold buyer, plans to double the duty on imports of the precious metal, according to reports Friday, its second such move this year. Gold prices fell nearly 1 percent.
The government of Argentina will continue to tighten its grip on the economy as widening economic distortions put the country under increased stress.
James Whittaker, a Microsoft executive who recently left Google after about three years, posted his Why I Left Google tell-all on a Microsoft blog a day before Greg Smith had his scathing Goldman Sachs op-ed posted in the New York Times. The Smith op-ed has taken the Internet and news world by storm in the first 24 hours since being posted. A London based executive director for the investment banking giant Goldman Sachs, Smith fired off a searing report March 14 on the company's toxic and des...
Greece's nearly $270 billion debt restructuring was deemed a default last week, bringing relief to creditors that had hedged their bets by buying credit default swaps. But the default declaration could send a wave of unintended consequences throughout Europe, further weakening some already-fragile economies.
New York State lawmakers passed a major pension reform deal following an arduous session that lasted through Wednesday night, according to the NYPost. The pension deal had already been approved by the State Senate and needed only to be passed by the Assembly before the new legislation was authorized.
China's foreign direct investment in February fell for the fourth straight month as companies tightened spending amid a slowdown in the world's second-largets economy and the ongoign European sovereign debt crisis.
The retirement letter from Goldman Sachs Executive Director Greg Smith, which was published as an op-ed in the New York Times on Tuesday, has been the talk of the town and likely reason the company lost market value on Wednesday.
Whenever any event occurs, it seems like the Japanese create a short animated, albeit ridiculous, video about the subject. And of course, they even found a way to animate Greg Smith's op-ed about Goldman Sachs.
Why did Greg Smith's resignation letter go viral on the Internet?
Bank of Communications Co., Ltd. (BoCom) will raise $8.9 billion in a share sale to current shareholders like HSBC and the Chinese Ministry of Finance. The bank's shares were suspended on Thursday in advance of the announcement.
The Indian Budget, which will be tabled in the Parliament Friday, is expected to incorporate same features as the previous budget, as the country faces challenging economic conditions and uncertain political scenario.
Shares of Apple hit $600 for the first time, boosting the computer and electronics developer’s market capitalization above $560 billion.
Claims for jobless benefits fell back to a four-year low of 351,000, providing more evidence that the labor market is healing.
The top aftermarket NYSE gainers Wednesday were: Callon Petroleum, Newcastle Investment, Covanta Holding, Rite Aid Corp, Office Depot and Basic Energy Services. The top aftermarket NYSE losers were: Guess?, YPF SA, SandRidge Permian Trust, Monster Worldwide, WMS Industries and Primus Telecommunications Group.
The shares of Goldman Sachs dropped 3.4 percent in New York trading Wednesday, wiping $2.15 billion off its market value following allegations made by a former company executive that the firm took little interest in the clients and was also involved in exploiting them.
Fitch Ratings revised down its outlook on Britain's AAA rating to negative Wednesday, warning the nation could lose its top-notch status in the next couple of years if the government eases back on its debt cutting stance.
Greg Smith did not choose the subtle approach for his exit from Goldman Sachs, where he had worked for 12 years. Instead, Greg Smith decided to post his resignation letter in The New York Times for the entire world to read. The resignation letter, entitled "Why I am Leaving Goldman Sachs," included scathing commentary on the "toxic" environment at the bank, its lack of "moral fiber" and the "muppets" who work there.
Newmont Mining Corp. is reevaluating the cost of its delayed Conga gold and copper project in Peru, the company's senior vice president in South America said on Wednesday.
Shares of Citigroup (NYSE: C) fell more than 4 percent Wednesday after the Federal Reserve said the No. 3 U.S. bank flunked a “stress test” of its financial viability.
