Goldman Sachs is the world’s largest – and most successful – investment bank. But it has seen a growing reliance on income generated from trading in recent years. Some Wall Street analysts are saying this makes the firm actually more like a hedge fund, and therefore more vulnerable to implosion. So--is Goldman just a giant hedge fund disguised as an investment bank?
Bear Stearns joins Goldman Sachs Group and Morgan Stanley as Wall Street banks announcing big bonuses.
Both the Dow Jones Industrial Average and the S&P 500 ended the day higher – with the Dow setting another record, closing up 30 points and the S&P up 3 – all this despite worrisome economic data coming in the form of a rise in wholesale prices and a decline in housing permits. The NASDAQ couldn’t keep up, falling 6 points on continued weakness in the technology sector.
The NASD said in a complaint that Morgan Stanley routinely failed to provide e-mails requested by claimants in arbitration cases, as well as by regulators.
Stocks closed mostly higher as investors shrugged off the latest inflation news and energy shares rallied on strength in crude prices.
What Does It All Mean? As Breaking News Producer, it’s often my job to answer that very question. Sometimes, unfortunately, the best answer is: “beats me!”. That most often happens when a tiny piece of information on an ongoing story finds its way to us. Example: We were already following the story of the Thailand stock market’s 15% collapse.....
Morgan Stanley shares set new 5-year highs after the company said it will spin off its Discover credit-card division and posted better-than-expected quarterly results on strong banking and trading.
Stocks look set to open lower after a sell off in energy and tech took the wind out of the year end rally yesterday, despite nearly $90 billion in deal announcements. Investors will be closely watching the ripple effect in emerging markets from Thailand's clampdown overnight on speculation in the baht....
Morgan Stanley gave chief executive John Mack $40 million in stock and options for 2006, reflecting the largest bonus awarded to a Wall Street CEO.
Now we know why ABC didn't join the other entertainment companies to launch a new video content site: ABC is becoming Yahoo! News main content partner. Expanding a 2005 deal for ABC News to provide ad-supported video to Yahoo! users, this new deal will provide twice as much content to Yahoo! News, including breaking news stories and features from ABC's blue chip content - stuff from Good Morning America, 20/20 etc.
Citigroup has agreed to buy wealth manager Quilter from rival Morgan Stanley as it seeks to expand in the UK, the companies said.
Gaming is one of the best-performing sectors recently. Investors, Wall Street and private equity are all eyeing these – supposedly – recession-proof stocks. The constant cash flow is pretty attractive, too. But what’s interesting is that casinos stocks seem to be on the rise despite some less than stellar earnings.
Goldman Sachs will pay about 50 executives bonuses of $25 million or more, according to CNBC's Charles Gasparino.