Goldman Sachs

Business News: Federal Reserve Board permanently bars two former employees of Goldman Sachs, Tim Leissner and Ng Chong Hwa, from the banking industry

WASHINGTON (STL.News) – The Federal Reserve Board on Tuesday announced that it is prohibiting Tim Leissner and Ng Chong Hwa, also known as Roger Ng, from the banking industry for their participation in a scheme to illegally divert billions of dollars from a Malaysian sovereign wealth fund.  Leissner was also fined $1.42 million and consented … Continue reading Business News: Federal Reserve Board permanently bars two former employees of Goldman Sachs, Tim Leissner and Ng Chong Hwa, from the banking industry

Goldman Sach execs may have pay cut over Malaysian investment fund scandal

(AP) Goldman Sachs Group’s board is taking steps to slash its top executives’ 2018 compensation, depending on the outcome of investigations into the investment bank’s role in the ransacking of a multi-billion-dollar Malaysian state investment fund. In a filing with the Securities and Exchange Commission late Friday, Goldman said the board can reduce the size … Continue reading Goldman Sach execs may have pay cut over Malaysian investment fund scandal

KUALA LUMPUR, Malaysia | Malaysia files criminal charges against Goldman Sachs

KUALA LUMPUR, Malaysia— Malaysia says it has filed criminal charges against Goldman Sachs and two of its employees in connection with a multibillion-dollar scandal involving state investment fund 1MDB. Attorney General Tommy Thomas said Monday that the charges stem from allegedly misleading statements aimed at misappropriating $2.7 billion in proceeds from the sale of three … Continue reading KUALA LUMPUR, Malaysia | Malaysia files criminal charges against Goldman Sachs

10 Things to Know for Today

Your daily look at late-breaking news, upcoming events and the stories that will be talked about today: BUSH REMEMBERED AS ‘GREAT MAN’ AND ‘GENTLE SOUL’ The nation’s capital mourns the 41st president as he lies in state with solemn ceremony and high tributes to his service and decency. ISRAEL TARGETS HEZBOLLAH BORDER TUNNELS The Israeli … Continue reading 10 Things to Know for Today

WASHINGTON | Fed: Some US businesses’ debt at highest level in 2 decades

WASHINGTON — American corporations have elevated their debt loads to potentially risky levels, the Federal Reserve said Wednesday in a report that raised concerns about the financial system 10 years after the 2008 crisis erupted. The Fed’s report was its first assessing the stability of the U.S. financial system. A decade after the financial crisis, … Continue reading WASHINGTON | Fed: Some US businesses’ debt at highest level in 2 decades

Business News: Discover to Present at Goldman Sachs US Financials Conference 2018

RIVERWOODS, IL – Roger Hochschild, chief executive officer and president of Discover, will present at the Goldman Sachs US Financials Conference 2018 in New York on Tuesday, December 4, 2018, at 8:50 a.m. ET. A link to the listen-only live audio webcast will be posted on the day of the conference to Discover’s Investor Relations … Continue reading Business News: Discover to Present at Goldman Sachs US Financials Conference 2018

BEIJING | Stocks recover from tech sell-off, oil down on Trump warning

BEIJING — Stock markets stabilized Tuesday after a sell-off led by technology shares dragged Wall Street sharply lower the day before. The price of oil fell after U.S. President Donald Trump said Saudi Arabia should not cut production, as it had said it would. KEEPING SCORE: In Europe, Germany’s DAX advanced 0.7 percent to 11,409 … Continue reading BEIJING | Stocks recover from tech sell-off, oil down on Trump warning

BEIJING | Asian stocks sink after Wall Street tech sell-off

BEIJING  — Asian stocks sank Tuesday after a tech sell-off dragged Wall Street lower. KEEPING SCORE: Tokyo’s Nikkei 225 tumbled 3.2 percent to 21,554.45 and Hong Kong’s Hang Seng lost 1.1 percent. The Shanghai Composite Index was off 0.2 percent at 2,625.37 and Sydney’s S&P-ASX 200 gave up 1.9 percent to 5,825.60. Seoul’s Kospi retreated … Continue reading BEIJING | Asian stocks sink after Wall Street tech sell-off

SINGAPORE | World shares mostly higher before EU meets to discuss Brexit

SINGAPORE— Share prices in Europe and Asia were mostly higher on Wednesday before a European Union meeting seeking to resolve an impasse over an exit deal for Britain’s departure from the bloc. KEEPING SCORE: France’s CAC 40 added 0.2 percent to 5,183.04 and Britain’s FTSE 100 rose 0.3 percent to 7,078.53. Germany’s DAX shed 0.3 … Continue reading SINGAPORE | World shares mostly higher before EU meets to discuss Brexit

NEW YORK | Goldman Sachs, Morgan Stanley both report strong 3Q profits

NEW YORK — The leading U.S. investment banks — Goldman Sachs and Morgan Stanley — each reported third quarter profits that beat analysts’ expectations Tuesday, helped by strong performance in their trading operations and better-than-expected revenue from stock underwriting. Goldman Sachs, the larger of the two banks, reported a profit of $2.52 billion in the … Continue reading NEW YORK | Goldman Sachs, Morgan Stanley both report strong 3Q profits

NEW YORK | Global stocks jump, helped by strong earnings in the US

NEW YORK  — World stock markets are turning higher again Tuesday, helped by strong earnings reports from major U.S. companies. Investment banks Morgan Stanley and Goldman Sachs, health care products company Johnson & Johnson and health insurer UnitedHealth all climbed after announcing their third-quarter results. Technology companies are also rising after their recent slump. KEEPING … Continue reading NEW YORK | Global stocks jump, helped by strong earnings in the US

ECSI 360 and Independence LED Lighting Align to Deliver American Energy Intelligence and Job Creation

PHILADELPHIA/ Aug. 2, 2018 (STL.News) — ECSI 360 and Independence LED Lighting announce today the formation of a strategic partnership to compliment the respective skill sets and products provided by each company. As the construction marketplace becomes increasingly complicated, these two companies help property owners and managers reduce operating cost waste, while simultaneously increasing safety … Continue reading ECSI 360 and Independence LED Lighting Align to Deliver American Energy Intelligence and Job Creation

Goldman Sachs Takes Another Step towards Fulfilling Consumer-Relief Obligation under Mortgage Settlements

BOSTON Aug. 1, 2018 (STL.News) — Goldman Sachs, by forgiving balances due on 1,127 mortgages in recent months, moved $127.1 million closer to fulfilling its $1.8-billion consumer relief obligation under its two April 11, 2016, mortgage-related settlement agreements with the U.S. Department of Justice and three states, Eric D. Green announced today in his eighth … Continue reading Goldman Sachs Takes Another Step towards Fulfilling Consumer-Relief Obligation under Mortgage Settlements

NEW YORK | Goldman’s Blankfein to retire as CEO, Solomon to take over

NEW YORK— Goldman Sachs said Tuesday that Lloyd Blankfein, the firm’s chief executive officer and chairman for the last 12 years, will retire later this year. Blankfeing will be replaced by David Solomon, a long-time Goldman executive who has long been seen as Blankfein’s chosen successor to lead the storied Wall Street investment bank. Goldman … Continue reading NEW YORK | Goldman’s Blankfein to retire as CEO, Solomon to take over

NEW YORK | Goldman Sachs’ 2Q profits jump 44 percent, helped by trading

NEW YORK — Goldman Sachs says profits jumped 44 percent in the second quarter compared with a year ago, driven by the investment bank’s core franchises: advising companies on mergers, acquisitions and other deals, and its trading business. The New York-based bank said Tuesday that earnings reached $2.35 billion in the second quarter, up 44 … Continue reading NEW YORK | Goldman Sachs’ 2Q profits jump 44 percent, helped by trading

NEW YORK | Goldman Sachs vice president charged in insider-trading case

NEW YORK (AP) — A Goldman Sachs vice president was arrested Thursday in California on insider-trading charges filed in a New York court. Woojae Jung awaited a court appearance in federal court in San Francisco to face six counts of securities fraud and a conspiracy charge. Manhattan U.S. Attorney Geoffrey S. Berman said Jung “violated … Continue reading NEW YORK | Goldman Sachs vice president charged in insider-trading case

Goldman Sachs posts $1.9 billion 4Q loss due to new tax law

NEW YORK/January 17, 2018 (AP)(STL.News) — Goldman Sachs says it lost $1.93 billion in the fourth quarter, as the bank had to record more than $4 billion in charges related to the new tax law. Goldman had a net loss of $5.51 a share, compared with a profit of $2.35 billion, or $5.08 a share, in the … Continue reading Goldman Sachs posts $1.9 billion 4Q loss due to new tax law

Fed: Biggest US banks strong enough to withstand recession

WASHINGTON/June 22, 2017 (AP)(STL.News) — All of the 34 largest U.S. banks are fortified enough to withstand a severe U.S. and global recession and continue lending, the Federal Reserve said Thursday. The first round of the central bank’s annual “stress tests” showed that as a group, the 34 big banks have gained strength thanks to … Continue reading Fed: Biggest US banks strong enough to withstand recession