Goldman reports soaring 2Q profits
Goldman Sachs Group Inc. posted record second quarter earnings as revenue from trading and stock underwriting delivered all time high results. Revenue at the New York-based bank jumped 46 percent to $13.8 billion compared to the same period last year. Net earnings grew 65 percent to $3.43 billion compared to a year ago.
House Health Plan proposes 5.4 percent surtax on high earners
House Democrats Tuesday proposed a new bill that will help fund an expansion of government health benefits by charging 5.4 percent tax from wealthy Americans. According to the proposed bill, a 5.4 percent surtax on individuals and families with annual gross income exceeding $1 million. Individuals and families with annual income between $350,000 and $500,000 would face 1 percent surtax, and those making between $500,000 and $1 million a year would have to pay 1.5 percent surtax.
Gary Black resigns as Janus Capital group CEO
Janus Capital group Inc. on Tuesday announced the resignation of Gary Black, 49, as the company's CEO with effect from Monday. Black will be replaced on an interim basis by Tim Armour, a member of the board, the Denver-based company said today in a statement. Janus reported second quarter net income of $15.8 million or $0.10 a share, down from $65.6 million or $0.40 a share in the second quarter of 2008.