Facebook Vice President David Marcus is the face of the company's Libra digital currency, but the original driving force was a 26-year-old female corporate-development...Technologyread more
Amazon's new policy for account suspensions doesn't go far enough to protect sellers from potentially unfair and wrongful suspensions, merchants say.Technologyread more
There is no end in sight to the Boeing 737 Max grounding after two fatal crashes, prompting airlines to rethink their growth plans.Airlinesread more
After a year of flooding, Midwest farmers face a stifling heat wave that's spreading across the U.S.Agricultureread more
A quarter of the S&P 500 companies report earnings next week, and that could buffet the market as investors await the July Fed meeting.Market Insiderread more
Moving lots of data to a public cloud over the internet can take months or years. CNBC got an inside look at how AWS transfers data to the cloud for its clients.Technologyread more
Iran's Revolutionary Guard claims a British tanker it still holds, Stena Impero, failed to follow international maritime rules.World Newsread more
"It troubles me that the most important political office in the world is becoming the face of racism and exclusion," Kaeser said in a Twitter post.Politicsread more
Silver's rally could be losing its shine after the precious metal reached its year-to-date high, futures experts warn.Futures Nowread more
Some 40% of Americans would struggle to come up with even $400 to pay for an emergency expense. Just how are so many Americans so short on cash? Blame debt.Personal Financeread more
Amazon hires Trump-allied lobbyist Jeff Miller as battle for Pentagon contract heats up.Politicsread more
Goldman Sachs, one of the world's biggest investment banks, gave credibility to a deal dubbed the "unacceptable face of capitalism" by U.K. lawmakers and "underplayed" their role in negotiations, according to a critical report by MPs.
Sir Philip Green, who sold retailer British Home Stores (BHS) to a one-time bankrupt, which then collapsed 14 months later, was the prime focus of the report's criticism. However, Goldman Sachs, which maintained in its evidence that it only provided free advice and "preliminary observations" to Green, "added lustre to an otherwise questionable process", according to a report by the U.K.'s Work and Pensions committee released Monday.
The collapse of BHS, once a staple of the U.K. high street, has left a £571 million ($750 million) pension deficit and led to the loss of over 10,000 jobs.
Michael Sherwood, a London-based vice chairman of the investment bank who appeared in front of the committee, had spoken with Green about a potential £40 million loan to support the deal.
Billionaire Green, who has a long-standing relationship with Goldmans over the management of his personal wealth, said in evidence to a committee of MPs investigating the collapse of BHS: "we one million percent would not have done business with" Dominic Chappell, who led a group which bought the business for 1 pound in March 2015, if Goldmans advisors had said not to.
The MPs concluded that Green "cannot pass responsibility" for the deal to the bank, as he failed to follow up concerns which Goldmans had raised. Frank Field, the chairman of the Work and Pensions committee, said in a statement: "One person, and one person alone is ultimately responsible for the BHS disaster."
Goldman Sachs said in a statement on Sunday: "As the report recognises, we identified risks to Arcadia but did not provide advice or recommendations and our informal work should not have been relied upon in any decision to proceed with the transaction."