Libya’s $1bn hangover after Goldman Sachs bankers paid for “lavish trip” to Morocco with “heavy drinking and girls involved” October 6, 2014 Goldman Sachs bankers took Libyan sovereign wealth fund bosses on a boozy weekend to Marrakesh – befriending them before selling them financial products the clients did not understand, the High Court heard yesterday. Libyan Investment Authority (LIA) said it lost $1bn (£622m) on the deals from January to April 2008, and told the court it [...]
UBS and Goldman Sachs left red-faced by AngloGold Ashanti $2.1bn float flop September 15, 2014 Proposals for a new London-listed mining spin-off worth £3bn hit the dust yesterday, as shareholders at one of the world’s top gold miners revolted over a $2.1bn (£1.3bn) rights issue key to the massive restructuring. South Africa-based AngloGold Ashanti was forced into a U-turn just five days after it announced it would spin off [...]
Goldman Sachs to issue $500m Islamic bond September 4, 2014 Goldman Sachs is planning to issue its first Islamic bond, or sukuk, and intends to meet potential investors in Qatar and the United Arab Emirates next week. According to the FT, the issuance is expected to consist of five-year bonds with a combined value of $500m. The US bank will be the second financial institution [...]