Archive for April, 2010
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
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.
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
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
(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 email@example.com. BANK OF AMERICA (BAC.N: Quote , Profile , Research ) The bank promoted Anne Walker to head of U.S
* 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.
* 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.
* 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
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
* 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