The United States is not facing a double-dip recession, and with inflation low conditions are setting up for equities in general to do well, Goldman Sachs' senior U.S. investment strategist Abby Joseph Cohen said on Wednesday.
An Australian hedge fund is suing Goldman Sachs Group Inc over an investment in a subprime mortgage-linked security that hastened the fund's demise in 2007, a lawyer for the fund said.
Goldman Sachs Group Inc may be looking at new legal headache, as settlement talks with an Australian hedge fund that invested $100 million in a now toxic mortgage-linked security appear to be breaking down, a source said.
Stock index futures pointed to a mixed open on Wall Street on Wednesday, with futures for the S&P 500 down 0.39 percent, Dow Jones futures up 0.26 percent and Nasdaq 100 futures down 0.36 percent at 0945 GMT.
Wall Street was flat in choppy trade on Tuesday after relinquishing early gains, as euro-zone concerns offset reassuring comments from Federal Reserve Chairman Ben Bernanke on the state of the U.S. economy.
Wall Street was poised for a higher open on Tuesday after Federal Reserve Chairman Ben Bernanke said the U.S. economy appeared to have enough momentum to avoid a double-dip recession.
U.S. stock index futures were slightly higher on Tuesday after Federal Reserve Chairman Ben Bernanke said the U.S. economy appeared to have enough momentum to avoid a double-dip recession.
Stock index futures were slightly higher on Tuesday, as investors digested comments from Federal Reserve Chairman Ben Bernanke on the strength of the U.S. recovery and the euro-zone debt crisis.
Marsh & McLennan Cos Inc agreed to sell investigations unit Kroll to a firm led by former Marsh CEO Michael Cherkasky for $1.13 billion, less than the amount the insurance broker paid for it six years ago.
Goldman Sachs Group's U.S. government ties suffered a fresh blow on Monday, as a commission probing the financial crisis subpoenaed the bank, claiming the firm had flooded the panel with 2.5 billion pages of records.
A government commission investigating the financial crisis has issued a subpoena to Goldman Sachs Group Inc for failing to comply with a request for documents and interviews in a timely manner, the commission said on Monday.
The Dow and S&P 500 were modestly higher on Monday while the Nasdaq was lower, adding to last week's losses on a disappointing May payrolls report.
The Dow and S&P 500 were modestly higher on Monday while the Nasdaq was lower, adding to last week's losses on a disappointing May payrolls report.
Marsh & McLennan Cos Inc said on Monday that it plans to sell Kroll, a risk consulting firm, to Altegrity in a $1.13 billion deal.
Some former Moody's analysts said they felt intimidated by bosses to assign rosy ratings to risky debt products, according to testimony to a government panel probing the causes of the financial crisis.
Former Moody's analysts say they felt pressure from bosses obsessed with market share to assign rosy ratings to risky debt products, while the company's current chief executive defended the rating agency's business model, according to testimony released on Wednesday.
UK insurer Prudential has abandoned its plan to buy AIG's Asian life unit for $35.5 billion, leaving management under fire and the company facing a $659 million bill for failure.
British insurer Prudential plc is withdrawing from a $35.5 billion deal to buy American International Group Inc's Asian life insurance business AIA, paving the way for a potential listing of AIA.
AIG's rejection of a lowered takeover offer by Prudential for its Asian life insurance business has shifted attention back to the company's IPO plans.
Legendary investor Warren Buffett appears this week before a commission searching for the causes of the 2008 financial crisis, to provide his assessment on the role a much-maligned credit rating industry played.
The U.S. Treasury and General Motors Co may select a lead underwriter for an initial public offering for the automaker as early as next week, Bloomberg News reported on Saturday.
Federal Reserve Bank directors say a Senate plan to kick bankers off the boards of regional Fed banks is an overreaction to one headline-grabbing incident and could harm the U.S. central bank.