The head of Goldman Sachs Group Inc.'s mortgage department, Dan Sparks, unexpectedly quit the firm on Friday, according to media reports.
Intrepid Potash Inc, which produces the potassium compound for fertilizer, jumped more than 60 percent on its first day on the open market as investors bet on a boom for agricultural products.
States are investigating how banks and securities firms marketed auction-rate securities to investors as recent failures in the credit markets have prevented many from liquidating the investment inst...
Goldman Sachs lowered Alibaba's price target from 18 Yuan to 15 Yuan, or 16 percent, and lower the company's target price earnings ratio of 2009 from 33 times to 30 times, but maintained the stocks neutral rating.
Merrill Lynch, Inc, is expected to report a loss for the first quarter of the year on Thursday, and is also expected to write down several billion dollars' worth of securities linked to the falling housing market, along with markdowns related to mono-line bond insurer and leveraged buyouts.
General Electric Co.'s dismal first-quarter results and lowered 2008 outlook contradicts the confidence its CEO expressed in last months shareholder meeting, leaving analysts speculating and investors jolted on the future of the conglomerate.
U.S. stocks fell to April lows on Friday after General Electric Co. shook investors with its lower-than-expected earnings results which increased concerns that the credit crunch has moved into all sectors.
Treasuries fell on Thursdays as stronger earnings sent investors looking for riskier stocks, weakening demand for relatively safe, but low yielding government debt.
Goldman Sachs Group Inc Chief Executive Lloyd Blankfein said on Thursday that the global credit crisis is in its latter stages probably approaching an end.
Merril Lynch will likely write down between $6 billion and $6.5 billion linked to several types of debt, senior company executives said, according to a report.
Treasury prices rose on Wednesday as stocks fell and the financial sector showed additional signs of trouble.
Goldman Sachs Group reiterated on Tuesday that it would be making around five per cent of its staff redundant.
The U.S. dollar gained against the yen and euro on Tuesday after American banks Goldman Sachs and Lehman Brothers reported stronger than expected profits for their latest quarters.
By Dan Denning The biggest losers will be consumers everywhere. Global monetary policy is entering a new, highly accommodating phase.
A U.S. bankruptcy judge on Friday said Delphi Corp can proceed with an exit financing deal
U.S. stocks dropped to an 18-month low on Tuesday , after Federal Reserve Chairman Ben Bernanke urged banks to write down more mortgage debts. Financial shares led indexes to fall while oil and gold dropped from previous records.
American International Group, on the heels of reporting its largest-ever loss, said on Friday the subprime crisis had thrown it into uncharted waters that were likely to remain choppy through 2008.
U.S. stocks extended losses Thursday, pushing the Dow Jones and the S&P 500 down more than 1 percent, after Federal Reserve Chairman Ben S. Bernanke said some smaller banks are likely to fail and jobless claims rose.
Goldman Sachs said it expects additional writedowns of about $1 billion to $12 billion each for several major U.S. brokers in the first quarter, with Citigroup estimated to record the highest amount of about $12 billion.
The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 1430 GMT on Monday.
Barclays Capital, the investment banking arm of Britain's Barclays Plc, has named Mark Bamford as head of global syndicate to replace Geert Vinken, who is retiring.
Wall Street investment banks, stung by debt losses, have cut tens of thousands of jobs, but even more significant cuts are coming in the months ahead amid a bleaker earnings outlook.