New York: Former Goldman Sachs director Rajat Gupta, one of the most prominent Indian-Americans in the country's financial scene, is likely to surrender before authorities in New York on Wednesday as prosecutors are expected to file criminal charges against him in a massive insider trading scheme. A report in the New York Times quoted people briefed on the matter as saying that criminal charges would be filed against Gupta. The...
08:52 AM, Oct 26, 2011
San Francisco: Hewlett-Packard is beefing up its defences in an effort to fend off activist investors who, with enough shares, could demand drastic changes at the company, according to a published report. The Wall Street Journal reported Wednesday on its website that Hewlett-Packard Co. has hired Goldman Sachs to help formulate a strategy for guarding against shareholder activism. The Journal cited people "familiar with the matter" who were not named...
03:32 PM, Sep 29, 2011
Boston: A Goldman Sachs shareholder has sued the investment bank's former director Rajat Gupta over profits that were accrued as a result of insider information that the Indian-American businessman passed on to his friend hedge fund founder Raj Rajaratnam. The lawsuit, filed by James Mercer in Manhattan federal court, seeks to recover the "short-swing" profits that Rajaratnam and Gupta allegedly made through insider trading on Goldman shares. "Gupta was beneficial...
11:04 AM, Jun 07, 2011
New York: Convicted hedge fund tycoon Raj Rajaratnam is no longer on trial, but his voice is going to be heard again in court on at least one phone tap in the trial of his former employee, Zvi Goffer, potential jurors were told on Monday. Rajaratnam's name dominated the questioning of scores of New Yorkers who could be among the 12 jurors selected for the five-week-long trial of Goffer and...
08:33 AM, May 17, 2011
New York: A US judge hearing the insider trading case involving Raj Rajaratnam on Tuesday ruled that the prosecution could not submit as evidence video-surveillance footage that shows a former Intel Corp employee faxing confidential information to the Galleon group founder. Judge Richard Holwell ruled against the admissibility of the footage a day after the defence and prosecution had argued about the admissibility of the two videotapes and faxed information....
10:27 PM, Apr 05, 2011
New York: Fund manager Raj Rajaratnam made $1 million in two minutes of frantic calls after receiving an inside tip about a big investment in Goldman Sachs Group Inc at the height of the financial crisis, prosecutors said at the Galleon founder's insider trading trial. In the biggest Wall Street insider trading case since the 1980s, US prosecutors have persistently pressed phone tap evidence that Rajaratnam had a direct line...
08:42 AM, Mar 31, 2011
New York: Goldman Sachs Group Inc chief Lloyd Blankfein testified that a former director at Wall Street's most powerful bank violated confidentiality by leaking boardroom secrets to hedge fund manager Raj Rajaratnam. Blankfein was called to testify by prosecutors in Manhattan federal court about Goldman's results in 2008, and a crucial investment that September by billionaire Warren Buffett at the height of the financial crisis - secrets that prosecutors said...
08:23 AM, Mar 24, 2011
New York: A former Goldman Sachs Group Inc director accused of leaking confidential boardroom information has sued US regulators, saying they are trying to unfairly deprive him of a jury trial. Rajat Gupta is fighting civil charges that he tipped one-time hedge fund billionaire Raj Rajaratnam, the central figure in a sprawling insider trading case, about Warren Buffett's plans to invest in Goldman Sachs at the height of the financial...
08:42 AM, Mar 19, 2011
Seattle: Facebook is preparing to open its books this year or early in 2012 to give investors a glimpse into the financial workings of the world's No. 1 social network, after it sealed an oversubscribed $1.5 billion round of financing led by Goldman Sachs. The financing, $ 1 billion of which is from Goldman Sachs' overseas clients and $500 million from Goldman itself and Russian investment firm Digital Sky Technologies,...
12:23 PM, Jan 22, 2011
New York/San Francisco: Facebook is generating profits at a faster-than-expected rate, and will likely attract so many investors this year that it will have to disclose financial data similar to a publicly traded company by April 2012, according to a document distributed by Goldman Sachs. The move could set the stage for a much-anticipated Facebook initial public offering in 2012, though there is no guarantee that the social networking company...
08:18 AM, Jan 07, 2011
New York: Interest in Facebook shares is so strong that Goldman Sachs Group Inc plans to stop soliciting interest from potential investors on Thursday, the Wall Street Journal reported, citing people familiar with the situation. The securities firm received orders of "several billion dollars," the paper reported on Wednesday, quoting these people. "It's a blowout," one Goldman employee told an investor who has considered trying to buy Facebook shares on...
11:47 AM, Jan 06, 2011
Bangalore: Facebook has raised USD 500 million from Goldman Sachs and Russian Internet investment group Digital Sky Technologies in a deal valuing the social networking site at USD 50 billion, the New York Times reported citing people involved in the transaction. Goldman has invested USD 450 million and Digital Sky Technologies, which has already invested about half a billion dollars in Facebook, put in an additional $50 million, the paper...
04:11 PM, Jan 03, 2011
London: A book analysing the flaws in economy that led to the current financial crisis by an Indian-origin professor of finance at the University of Chicago has won the Financial Times and Goldman Sachs Business Book of the Year Award for 2010. The 30,000 pounds prize was on Wednesday night awarded to Raghuram G Rajan, for his book, 'Fault Lines: How Hidden Fractures Still Threaten the World Economy', published by...
03:41 PM, Oct 28, 2010
The penalty was the largest ever for a financial institution, and leaves the door open for future civil suits. ...
08:39 AM, Jul 16, 2010
Lloyd Blankfein underwent cross-examination from lawmakers during an 11-hour Senate hearing on Tuesday. ...
06:32 PM, Apr 28, 2010
Former and current executives denied the allegations, and say the investment firm did nothing illegal. ...
12:44 PM, Apr 28, 2010
Goldman Sachs is charged with fraud by the SEC over its marketing of a subprime mortgage product. ...
11:30 AM, Apr 19, 2010
The charge overshadowed strong quarterly reports from Bank of America, Google and General Electric. ...
12:32 PM, Apr 17, 2010
Goldman reported profit of $ 3.44 billion for the second quarter ended June. ...
11:25 PM, Jul 14, 2009
There is a need to double Indian ports, roads, power, telecom etc. ...
04:40 PM, Jun 26, 2009
