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Goldman pounded by hedge fund rumors

Goldman Sachs Group Inc., known for its Midas touch, again found itself on the defensive Thursday amid speculation that two of its hedge funds had fallen sharply in recent weeks and were selling down positions.

Second Goldman Sachs fund sells positions: report

A second hedge fund managed by Goldman Sachs Group Inc. is suffering from losses and is selling down some of its positions, The Wall Street Journal reported on Thursday.

Shares swoon on subprime distress

Stocks fell sharply on Thursday as another shoe dropped in the U.S. subprime mortgage sector meltdown, causing investors to flee riskier assets for the relative safety of government bonds. Stocks added to their declines after the Wall Street Journal reported a second Goldman Sachs Group Inc. hedge fund was suffering losses and was selling its positions.

Stocks gain for 3rd day on Cisco; AIG up late

Stocks rose for a third session on Wednesday, a day after the Federal Reserve reassured investors about the economy and technology bellwether Cisco Systems Inc. raised its revenue outlook.

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U.S. oil may hit $95 if OPEC does not hike output: Goldman

U.S. crude price could top $90 a barrel this autumn and hit $95 by the end of the year if OPEC keeps oil production capped at current levels, Goldman Sachs said in a report issued on Monday.

United Group buys Unnico for $477 million

Australian engineering services firm United Group Ltd. said Wednesday it had acquired US-based UNICCO Service Company (UNICCO) for $477 million (US$411 million) in a cash and stock deal.

Fast Retailing going global with Barney's Bid

Fast Retailing's surprise $900 million bid for Jones Apparel Group's Barneys New York underscores the Japanese clothing retailer's dream to become a global player and find growth outside its mature home market.

Hedge fund Och-Ziff Capital files for IPO

Och-Ziff Capital Management Group LLC, a multi-strategy investment fund with about $26.8 billion under management, filed for an initial public offering on Monday, making it the latest alternative investment firm to seek a public listing.

Virgin Media seeks buyer, Carlyle bids: sources

British cable operator Virgin Media has appointed Goldman Sachs to seek a possible buyer after it received approaches from various private equity firms, people familiar with the situation said on Sunday.

Best Buy to expand; raises dividend, share buyback

Best Buy Co. Inc. said on Wednesday that it would open more North American stores than previously planned, buy back $5.5 billion in stock and raise its dividend 30 percent.

Guitar Center to be acquired by Bain Capital

Guitar Center Inc. said it agreed to be acquired by private equity firm Bain Capital Partners LLC for about $2.1 billion, including assumed debt.

Goldman to sell S.Korea cable operator stake: paper

Goldman Sachs is selling its 30.48 percent stake in South Korean cable TV operator C&M, valued at $970 million, a newspaper said on Monday, in the latest sale of Korean assets by foreign investment firms.

Analysis: Wall Street circles wagons on risky securities

It was Wall Street's version of hide and seek this week as some of the world's largest investment banks remained tight-lipped on the likely fall in price of some complex securities that may soon infect global debt and equity markets.

Blackstone up 13 percent in NYSE debut

Blackstone Group LP (NYSE: BX) units rose 13 percent in their first day of trading on Friday, as the first major U.S. private-equity firm went public and minted billions of dollars of new wealth for its founders.

Goldman Sachs to Buy Equity Inns for $1.27 billion

Goldman Sachsâ€™ (NYSE: GS) real estate fund, Whitehall, has agreed to acquire hotel owner Equity Inns, Inc. (NYSE: ENN) in a deal worth $1.27 billion, not including debt, the companies announced Thursday.

Morgan Stanley profit beats estimates

Morgan Stanley on Wednesday said its second-quarter profit rose 40 percent, trouncing expectations as most of its trading and investment-banking businesses achieved record results.

Stocks flat as subprime worries offset takeovers

Stocks were little changed on Monday as lingering worries about the subprime mortgage market offset optimism about corporate takeovers.

Lehman Brothers rising as banking power: Barron's

Lehman Brothers's lagging stock price offers the chance to buy into a rising power as it seeks to join the company of larger investment banks like Goldman Sachs and Morgan Stanley, Barron's reported in its June 18 edition.

Goldman and B. Stearn's Mortgage Woes

Goldman Sachs Group Inc. and Bear Stearns Cos. Inc. are learning that it's a tough time to be in the U.S. mortgage business. Both banks suffered from rising home buyer defaults in the latest quarter.

Goldman Sachs shares fall as profit barely rises

Goldman Sachs Group Inc. barely managed to show a rise in quarterly profit as a sharp drop in fixed income trading revenue offset record investment banking fees and strong equities income.

Indexes climb with oil sector

U.S. stocks rose on Thursday as a gain of more than $1 a barrel in oil prices boosted shares of energy companies, including Exxon Mobil Corp., offsetting disappointment over profit reports from Bear Stearns and Goldman Sachs.

Bear Stearns net drops on mortgage woes, charge

Investment bank Bear Stearns Cos. Inc., one of the nation's largest mortgage bond underwriters, said on Thursday quarterly earnings fell by a third as trouble in the mortgage market hurt bond trading revenue and it wrote down assets at a stock trading venture.