HSBC, Goldman Sachs and Barclays are among the banks being investigated for gold price rigging February 24, 2015 The US is looking into whether the world's biggest banks have rigged the prices of precious metals such as gold, silver and platinum. The Department of Justice (DoJ) and Commodities and Futures Trading Commission (CFTC) have launched the investigation following of a series of scandals in which banks altered benchmark rates to make [...]
Goldman Sachs discloses Californian probe and ramps up legal loss estimate February 23, 2015 Goldman Sachs said officials in California are investigating its pre-financial crisis sale of mortgage-backed bonds, while raising the top end of its estimate of "reasonably possible" legal losses to about $3bn from $2.5bn. Goldman referred to a letter received in December from the US Attorney for the Eastern District of California saying it had "preliminarily [...]
Spotify hires Goldman Sachs in hopes of raising $500m January 29, 2015 Spotify is hoping to raise more cash and has hired the world's most famous investment bank Goldman Sachs to do it. The music streaming company has probably delayed its long-awaited public listing by pursuing this round of financing. Spotify has said it wants to raise $500m. The financing would value Spotify near $6bn people familiar [...]
Goldman Sachs president: Britain remaining in Europe is “best for all of us” January 24, 2015 Gary Cohn, president of Goldman Sachs, has urged Britain to stay in the EU in order for London to maintain its status as a “great financial capital of the world”. The president of the US investment bank has argued that a Brexit could be bad news for the city as financial firms want to [...]
Uber raises $1.6bn from Goldman Sachs clients January 21, 2015 Uber has raised $1.6 billion in financing from the clients of Goldman Sachs’s private wealth arm, adding even more cash to its ever-expanding pile. This comes months after the popular taxi-app raised $1.2 billion from big institutions, and one investment valued the company at a weighty $41.2 billion, the Financial Times reported. The cash will be used [...]
Goldman Sachs revenues down 12 per cent January 16, 2015 Goldman Sachs shares fell 1.8 per cent in pre-market trading after it posted figures showing revenues had fallen 12 per cent to $7.96bn (£5.23bn) in the three months to the end of December, as revenues in its fixed income business dropped 29 per cent to $1.2bn. The investment bank said profits fell to $2.17bn or [...]
Oil crashes to new six-year low after Goldman Sachs cuts forecasts January 12, 2015 Oil crashed to a new six-year low after Goldman Sachs became the latest banking giant to cut forecasts, saying the price of the black stuff must fall further if it's to discourage investment in its rival shale gas. Brent crude broke the $48 per barrel mark this afternoon taking it to its lowest level since [...]
Goldman Sachs: Tories will win 2015 General Election January 6, 2015 Banking giant Goldman Sachs has called the next election in favour of the Conservatives, adding that while the result remains uncertain, David Cameron’s party is more likely than Labour to form the next government. In a note distributed to clients, three of the bank’s analysts wrote that while the influence of parties like Ukip and [...]
Goldman Sachs forecasts Tories will win the 2015 General Election January 6, 2015 Journalists, pundits and pollsters are widely agreed that this year's General Election is the most unpredictable in decades. The rise of the SNP in Scotland, Ukip in England, the Greens threatening Labour's left flank, coupled with a general loathing of Westminster establishment politics, is leaving most commentators unable or unwilling to give their predictions. However, [...]
Top Goldman Sachs bankers are the best paid in the UK, earning £3m January 2, 2015 It's official: Goldman Sachs workers were the best paid bankers in the UK in 2013, according to analysis by the Financial Times. Goldman paid its top 121 UK-based employees £3m a piece on average, of which 85 per cent came in the form of bonuses. The 121 are so-called “code” employees, meaning their earnings [...]