Goldman Sachs said that it believed its trades with bailed-out insurer AIG during the financial crisis were accurate and its collateral calls made to AIG were reflective of the conditions in a deteriorated market.
U.S. stocks closed little changed on Friday, but Wall Street wrapped up its best month in a year after the earnings season rounded the final turn with a group of strong results that offset the impact of poor economic data.
U.S. media companies are set to report revenue increases of 5 to 15 percent as they issue earnings reports over the next two weeks -- the best the industry has looked in at least two years.
China's banking regulator has run stress tests in the country's trust firms to see if they can withstand a downturn in the property sector, the Economic Observer reported on Saturday, citing unidentified industry sources.
U.S. stocks fell on Wednesday as investors were discouraged after Federal Reserve Chairman Ben Bernanke said the U.S. economy faces unusually uncertain prospects.
Stock index futures pointed to a higher open for Wall Street on Wednesday, boosted by upbeat earnings from technology firm Apple .
Dismal consumer sentiment data and anemic revenues from GE and two big banks slammed U.S. stocks on Friday, driving down major indexes more than 2 percent.
Wall Street closed out its best week in a year on Friday, snapping back from a long stretch of selling, as investors looked ahead to what many expect will be a solid earnings season.
Wall Street closed out its best week in a year on Friday, snapping back from a long stretch of selling, as investors looked ahead to the start of the earnings season.
Stocks rose slightly on Tuesday, rebounding from weeks of selling, but initial gains were mostly erased by afternoon as retail shares weighed.
Goldman Sachs officials insisted demands for billions of dollars from insurer AIG ahead of a $182-billion government rescue package were based on legitimate market prices and denied gaming values for a massive payout.
Goldman Sachs demanded billions of dollars in collateral from AIG to protect its customers, the Wall Street bank said on Thursday, defending itself against accusations that it contributed to the insurer's woes while padding its own profits.
Goldman Sachs demanded billions of dollars in collateral from AIG to protect its customers, the Wall Street bank said on Thursday, defending itself against accusations that it contributed to the insurer's woes while padding its own profits.
American International Group Inc Chief Executive Robert Benmosche said last week he would quit unless Chairman Harvey Golub leaves the company, Bloomberg reported on Wednesday.
Hundreds of additional stocks and 344 exchange-traded funds face trading curbs under a proposed expansion of the circuit breakers that were adopted in response to May's severe flash crash.
The former head of the AIG unit which drove the insurer to the brink of collapse, broke a long silence on Wednesday and defended his role in an aggressive buildup of risky mortgage-linked securities.
Market regulators have closed an investigation of American International Group and some of its executives over losses at the bailed-out insurance giant, two sources with knowledge of the matter said on Wednesday.
British insurer Prudential's management sought to ease shareholder anger over its botched bid for AIG's Asian unit at a meeting on Monday, unveiling bumper sales and apologizing for the misadventure's huge costs.
Insurer Prudential reported stronger sales growth ahead of its annual investor meeting, in an effort to appease shareholder anger over its failed bid for AIG's AIA Asian unit.
Wall Street rose on Tuesday as U.S. construction spending recorded its largest monthly increase in nearly 10 years and U.S. manufacturing expanded in for a tenth straight month.
Prudential investors will back the group's bid for AIG's Asian life insurance arm provided it can negotiate a 10 percent cut in the deal's $35.5 billion price tag, the Sunday Times reported.
American International Group Inc believes $30 billion for its Asian unit, AIA is too low, and the U.S. insurer is not in a rush to do a deal, a source familiar with the matter said late on Friday.
