Early Facebook investors, including Goldman Sachs, plan to unload more shares in the upcoming IPO—adding 84 million shares, worth up to $3.2 billion, to take advantage of increasing investor demand.
The number of Americans seeking unemployment benefits fell last week by the most in nearly a year. The figure was a hopeful sign one day before the government releases the April jobs report.
The federal government is working with the provinces in an attempt to finally create a common securities regulator within Canada. It will replace the patchwork of 13 regional regulators currently in existence.
A Goldman Sachs investment banker, Matthew Korenberg, is currently the subject of a long-running probe by federal prosecutors in California— he allegedly shared information about pharmaceutical mergers with an employee of the Galleon Group.
Jim Flaherty and Canadian banks are headed for a showdown, with banks continuing to skirt federal rules over selling insurance on their websites. Speaking to reporters in Washington on the weekend, Flaherty said the issue, which first emerged in October, is “still around,” even though the Harper government is intent on stopping the practice. By […]
UK financial regulators have failed to penalize John Pottage, the former chief executive of UBS’s UK wealth management, for inadequate supervision during his watch and for his inability to prevent serious fraud. The case was straightforward; the FSA was seeking to fine Pottage £100,000 for misconduct after uncovering a series of compliance problems in UBS. […]
On the surface, Goldman Sachs had a triumphant first quarter. The company’s first quarter results managed to beat analysts’ expectations, and the iconic Wall Street investment bank said it would raise its dividend. The demand for bond trading and debt underwriting, as well as derivatives used for hedging offset declines in other core areas of […]
U.S. wealth management firm Edelman Financial Group Inc. agreed to a buyout offer from private-equity firm Lee Equity Partners that values the company at roughly $263 million.
Advisors often wonder where they can find wealthy clients. It turns out, they’re all hanging out on social media, with rich investors spending an average of 9 hours per week on their phones, 12 hours on their tablets and 22 hours on computers.
All eyes are on the World Bank in anticipation that history will be made when it announces its next president later today.