Archive for April, 2010
Emails show Goldman’s Glengarry Glen Ross side
By Matthew Goldstein NEW YORK (Reuters) – Brass-knuckle sales tactics, worthless assets and clueless investors: the vignettes that emerge from hundreds of pages of three-year-old emails from members of Goldman Sachs Group’s (GS.N: Quote , Profile , Research ) mortgage securities trading desk would not be out of place in a David Mamet play. In “Glengarry Glen Ross,” Mamet depicted the aggressive and desperate sales tactics employed by a group of salesmen to push worthless Florida real estate on unsuspecting buyers
Buffett may push, or be pushed, on Goldman
By Svea Herbst-Bayliss and Jonathan Stempel OMAHA, Nebraska (Reuters) – When Warren Buffett speaks on Saturday to what could be 40,000 shareholders of his Berkshire Hathaway Inc (BRKa.N: Quote , Profile , Research ) (BRKb.N: Quote , Profile , Research ), a major topic is sure to be what America’s most famous investor thinks about Goldman Sachs Group Inc(GS.N: Quote , Profile , Research ), perhaps its most infamous bank.
Wall St sinks on Goldman angst, but ends up for April
By Edward Krudy NEW YORK (Reuters) – Stocks tumbled on Friday to close out the worst week since January as news of a criminal probe into Goldman Sachs unnerved investors already anxious about the prospects for heavy regulation from Washington. U.S
Second Louisiana rig accident minor: report
HOUSTON (Reuters) – An inland shallow-water drilling rig capsized near Morgan City, Louisiana, while being towed to a salvage yard, the Coast Guard said on Friday. There were no injuries, and navigation was not affected by the incident in the Charenton navigation channel south of U.S
UPDATE 3-MOVES-Bank of America, Credit Suisse, Citigroup
(Adds Bank of America) April 30 (Reuters) – The following financial services industry appointments were announced Friday. To inform us of other job changes, send an email to moves@thomsonreuters.com. BANK OF AMERICA (BAC.N: Quote , Profile , Research ) The bank promoted Anne Walker to head of U.S
UPDATE 3-Colombia cenbank surprises with 50 bps rate cut
* Market had expected the bank to hold rate at 3.5 pct * Rate cut prompted by low inflation expectations * Consumer prices seen rising about 3 percent this year (Adds analyst quote) By Javier Mozzo BOGOTA, April 30 (Reuters) – Colombia’s central bank surprised financial markets on Friday by cutting its key interest rate by 50 basis points to 3.0 percent at its monthly rate-setting meeting, citing low inflation expectations.
UPDATE 2-Carmakers apt to spend $11.2 bln in Brazil boom
* Investments may reach $11.2 bln through 2011 * Car industry helped propel economic growth in 2009 (Adds sales numbers) SAO PAULO April 30 (Reuters) – Global automakers will likely invest up to $11.2 billion in Brazil over the next two years, taking advantage of pent-up demand for vehicles in the largest Latin American economy, the president of industry group Anfavea, Cledorvino Bellini, said on Friday.
CORRECTED – Arizona law reignites California immigration fight
* California Latinos fear tough Arizona law a precedent * Democrats, Republicans agree — Washington should act * California is top state for Latinos, illegal immigrants (Corrects details of Arizona law) By Peter Henderson SAN FRANCISCO, April 30 (Reuters) – A few weeks ago, California Latinos had little to fight for. Now they’ve got something to fight against — Arizona’s illegal immigrant law. The tough law next door in Arizona is sending protesters to the streets, while emboldening conservatives who feel illegal immigration has gone too far
Goldman shares hit 9-month low on news of U.S. probe
By Maria Aspan NEW YORK (Reuters) – Shares of Goldman Sachs Group Inc (GS.N: Quote , Profile , Research ) slumped 9.4 percent on Friday to a more than nine-month low, a day after news of a criminal investigation by U.S. federal prosecutors accelerated the company’s crisis
UPDATE 3-Goldman shares hit 9-month low on news of US probe
* Stock down 9.4 pct after reports of criminal probe * BofA, S&P Equity Research downgrade Goldman * Sell-off in Goldman bonds * Stock drops to more than 9-month low * Berkshire’s Munger says SEC should not have filed case * Munger says derivatives trading should be reined in (Adds background on legal history, likelihood of charge, regulators; adds analyst downgrade, BreakingViews link, Kaptur comment, adds comment from Berkshire Hathaway vice chairman) By Maria Aspan NEW YORK, April 30 (Reuters) – Shares of Goldman Sachs Group Inc (GS.N: Quote , Profile , Research ) slumped 9.4 percent on Friday to a more than nine-month low, a day after news of a criminal investigation by U.S. federal prosecutors accelerated the company’s crisis. [ID:nLDE63T021] The reported criminal investigation also prompted at least three analysts to downgrade their ratings for Goldman
