Goldman Sachs Group Inc , in the crosshairs of the pay debate, is capping compensation at $1.6 million for its partners in the UK, according to a source familiar with the matter.
Prime Minister Gordon Brown said on Monday he saw growing support for some form of international levy on banks to fund support for the industry.
American International Group Inc said it has restricted the personal use of corporate aircraft by its executives, other than its chief executive.
One can't think of futurology without mentioning George Orwell (1984 fame) or Alvin Toffler (Third Wave). Whenever, one comes across Futuristic predictions we get reminded of Toffler or Orwell.I was reminded of them when I read the latest provocative forecasts of the Futurist Magazine.
China could overtake Japan as the world's second-largest economy in 2010, one year before Goldman Sachs Chief Economist Jim O'Neill had previously expected.
New York Federal Reserve officials debated in November 2008 whether the terms of the bailout of American International Group could be kept secret from the public and whether securities regulators would even permit it to do so, according to emails obtained by Reuters on Friday.
Shares of several major U.S. financial institutions fell on Friday along with the broader market a day after President Barack Obama's proposals to further restrict banking activity.
U.S. President Barack Obama's plan to limit financial risk-taking could force banks, such as Goldman Sachs or JPMorgan , to shed parts of their private equity operations.
Several investors are looking into buying Goldman Sachs's 16.8 percent stake in Italy's Prysmian SpA, a profitable cable maker, a financial source said on Friday.
President Barack Obama threatened to fight Wall Street banks on Thursday with new proposals to limit financial risk taking, sending stocks and the dollar tumbling.
Stocks suffered their worst one-day percentage drop since October on Thursday as U.S. President Barack Obama proposed tough restrictions on banks that would squeeze profits.
The S&P 500 index fell on Wednesday as stocks declined following President Barack Obama's announcement of his proposal for new bank regulations.
Goldman Sachs Group Inc , under fire for gold-plated pay packages, cut average pay per employee by about a quarter from record 2007 levels, helping boost its profit to a record.
U.S. stocks dropped on Thursday as President Barack Obama took a tough stance on financial institutions, proposing rules to make the system safer by preventing the biggest banks from taking excessive risks.
U.S. stocks dropped on Thursday as President Barack Obama took a tough stance on financial institutions, proposing rules to make the system safer by preventing the biggest banks from taking excessive risks.
President Barack Obama proposed stricter limits on financial institutions' risk-taking on Thursday in a new populist-tinged move that sent bank shares tumbling and aimed to shore up the president's political base.
Wall Street tumbled on Thursday after President Barack Obama proposed rules aimed at making the financial system safer by preventing the biggest banks from taking excessive risks.
President Barack Obama proposed stricter limits on financial risk-taking on Thursday in a new populist-tinged move that sent bank shares lower and aimed to shore up his own political base.
Goldman Sachs Group Inc , which had been on track to pay employees a near-record amount, instead set aside nothing for compensation in the fourth quarter and gave $500 million to charity.
The Dow and S&P 500 fell on Thursday as fears any proposed new restrictions by the Obama administration on big banks would cut profits at large trading firms like Goldman Sachs Group.
President Barack Obama will propose stricter limits on financial risk-taking on Thursday in his latest populist-tinged move to crack down on banks and address the roots of the financial crisis.
Goldman Sachs Group Inc , which had been on track to pay employees a near-record amount, instead set aside nothing for compensation in the fourth quarter and gave $500 million to charity.