Archive for the Business Category
Bonuses tumble 80% at Goldman Sachs
Partners at Goldman Sachs
are set to see their bonuses fall by up to 80% and the cash component of their year-end packages capped at $400,000, with the rest paid half in stock and half in options
Apple chief’s withdrawal fuels health fears
Steve Jobs made an 11th-hour withdrawal from Apple’s main event of the year, prompting concern about the chief executive’s health and the readiness of the company’s new products
Citi set to merge two key divisions
The investment and corporate banking operations are to be combined in yet another attempt by the US financial conglomerate to break down barriers between its businesses
Morgan Stanley posts $2.2bn quarterly loss
A ’savage’ downturn in markets in November plunged Morgan Stanley into a bigger-than-expected $2.2bn loss in the fourth quarter, as the bank’s trading, advisory and prime brokerage operations were hit hard
Wall St falls as rate cut euphoria fizzles
Macy’s helped consumer discretionary stocks find positive territory on Wall Street as the wider market fell from its monthly high after the company quashed fears over its ability to repay debt
Goldman Sachs reports $2.12bn loss
The US group, which converted from an investment bank into a bank holding company in September, reports its first quarterly deficit since going public in 1999
Morgan Stanley posts $2.2bn quarterly loss
A ’savage’ downturn in markets in November plunged Morgan Stanley into a bigger-than-expected $2.2bn loss in the fourth quarter, as the bank’s trading, advisory and prime brokerage operations were hit hard
Wealthy lured by Madoff’s apparent history of success
Bernard Madoff presided over the biggest alleged fraud in the hedge fund industry, thanks to an investment strategy that appeared to provide steady returns with almost no risk of loss
Full Article: Wealthy lured by Madoff’s apparent history of success
Wall St losses pared on alternative auto rescue hopes
US stocks drew another volatile week to a close with an afternoon rally after the Bush administration signalled it would use the $700bn bail-out fund created for the financial industry to avert a collapse of the car industry
Full Article: Wall St losses pared on alternative auto rescue hopes
Hexion abandons $6.5bn bid for Huntsman
Hexion, the Apollo-owned chemicals firm owned by buy-out group Apollo Management, dropped its $6.5bn bid for rival Huntsman – the latest private equity backed takeover to end in failure