Goldman Made $400M On Food Speculation. Nomura On Mark Carney Bank Of England. Mark Carney Named Head Of The Bank Of England. Governor of the Bank of Canada Mark Carney.
Just breaking now. The Bank of England has announced a shocking choice for its new chief: Mark Carney, head of the Bank of Canada, will take over the job from current chief Mervyn King. Carney will stay on as the Bank of Canada's chief until May. That Carney was under consideration was known for awhile. Back in October, WSJ's Simon Nixon reported that he was a top choice, but that Carney wasn't interested in an 8-year appointment. Canada has famously avoided the banking crises that have plagued much of the Anglosphere, and given the UK's heavy reliance on banking, this was a huge plus.
Bototm line: This appointmenet seems much more about being a regulator of banks, rather than an appointment related to the economics of monetary policy. Here's the full press release from the UK Treasury Her Majesty the Queen has been pleased to approve the appointment of Mark Carney as Governor of the Bank of England from 1 July 2013. Notes for Editors1. 2. 3. 4. 5. Current Goldman Alumni In Key Public Positions. Wall Street Not Invited To White House Fiscal Cliff Talks. President Obama will be meeting with top business executives on Wednesday to talk about resolving the "fiscal cliff.
" However, Politico's Ben White points out that Wall Street wasn't invited. From Morning Money: The list for Wednesday’s CEO meeting with President Barack Obama on the fiscal cliff does not include a single banker and only one person — Kenneth Chenault of American Express — from the financial services industry. Chenault is a fixture at these White House meetings, which have amounted to little more than photo ops in the past.
U.S. Goldman Disclosure a Rare Break in Secrecy. Jim Watson/Agence France-Presse — Getty ImagesSenator Carl Levin had harsh words for Goldman Sachs.
WASHINGTON — After deciding not to prosecute Goldman Sachs for its conduct during the financial crisis, the Justice Department did something rare: it publicly announced that the investigation was closed. The unusual public announcement came after Goldman’s lawyers pushed for a notification that the bank would not be charged, according to two people with direct knowledge of the matter who spoke on condition of anonymity. In a 450-word statement issued late Thursday, authorities said that “based on the law and evidence as they exist at this time, there is not a viable basis to bring a criminal prosecution.” Many legal experts agree it would have been hard to bring charges. But the public announcement also raised eyebrows because under most circumstances criminal inquiries are shrouded in secrecy.
Andrew Harrer/Bloomberg NewsA report suggested that Lloyd C. It also suggested that Lloyd C. Andrew Williams, Ex-Treasury Spokesman, Headed To Goldman Sachs. Goldman Sachs’ Raj Gupta Off to a Bad Start in Insider-Trading Trial. If Raj Gupta is ever going to beat the insider-trading rap leveled against him, he’s going to need a stellar defense.
U.S. prosecutors are in the lead with two major blows against the former McKinsey & Co. big-wig and Goldman Sachs director, reports The Globe and Mail. The prosecution gained its early edge when Judge Jed Rakoff allowed them to introduce wiretap evidence, and a week later, signed-off on their version of preliminary jury instruction. Though the prosecution was facing a fairly difficult case, Rakoff’s allowance for the jury to hear recordings of jailed insider-trader Raj Rajaratnam boasting over tips (allegedly) from Goldman’s Gupta. The prosecution continued its winning streak with the jury instruction. For example, Gupta has to be shown to have received benefit from leaking information to Rajaratnam. Gupta still does have a chance, as the prosecution doesn’t have evidence that will completely put him away, like they did with Rajaratnam. Gupta suffers two big blows in his insider-trading trial. Goldman Sachs Joins Twitter - Deal Journal.
Associated Press Goldman Sachs, in an ever growing era of openness, has joined Twitter this morning.
The former Goldman Sachs executives face insider trading charges. Rajat Gupta, former Goldman-Sachs director, goes on trial in insider trading crackdown. Kevin Hagen for New York Daily N Former Goldman Sachs Group, Inc. executive Rajat K.
Gupta is accused of supplying insider information to his investment partner. THE GOVERNMENT’S sprawling insider trading crackdown takes another turn Monday as an ex-Goldman Sachs director goes on trial in Manhattan Federal Court for leaking secrets to his billionaire “Hedge Hog” business partner. The case against Rajat Gupta, 63, makes him the biggest Wall Street insider implicated in the long-running FBI probe. Former Goldman Sachs Director Rajat Gupta Faces Insider Trading Trial.
Barely a day went by at the insider-trading trial of multimillionaire hedge-fund founder Raj Rajaratnam a year ago without mention of Rajat Gupta, a boldface name in business and charity circles.
On Monday in the same federal court in New York, it will be Gupta's turn to go on trial. The former Goldman Sachs Group Inc and Procter & Gamble board member is accused of leaking stock secrets to Rajaratnam, his erstwhile friend and business associate who was convicted and is now in prison. But while prosecutors have called Gupta the "illegal eyes and ears" for Rajaratnam, this is a very different case. At Rajaratnam's trial, jurors spent weeks listening to the Galleon Group founder discussing stock trades on calls secretly recorded by the FBI. With Gupta, prosecutors have no direct conversations on tape related to the trades central to their case. Gupta, 63, has pleaded not guilty. Goldman Sach's Gupta Loses Wiretap Ruling - Advanced Trading. NY judge orders questioning of Goldman chairman. By LARRY NEUMEISTER A judge handed the government several setbacks Tuesday in its insider trading prosecution of a former Goldman Sachs board member by letting the company's chairman testify about his interactions with the government and by letting the defense learn more about separate criminal and civil probes.
The rulings were part of a package of pretrial decisions issued by U.S. District Judge Jed Rakoff prior to the April trial of Rajat Gupta, who sat on the boards of Goldman Sachs and the Procter & Gamble Co. when the government alleges he fed inside information to a billionaire hedge fund founder. The government claimed it could block Goldman Sachs chairman Lloyd Blankfein from testifying about his discussions with government attorneys and at least one FBI agent prior to a seven-hour deposition last month. Rakoff said the government had unwittingly waived any rights it had to keep its discussions with Blankfein secret by questioning him before his deposition.
Goldman kicks off Indian charm offensive. Goldman Sachs delegation meets Prime Minister Manmohan Singh. All India | NDTV Correspondent | Updated: April 01, 2012 01:24 IST New Delhi: The Goldman Sachs delegation is on a mission to charm corporate and political India.
In a confidence building motion, the delegation met Prime Minister Manmohan Singh today, at his resident in Delhi, just a couple of days after holding their first ever board meeting in India on Thursday. Goldman Sachs, which has been reeling under negative publicity, is trying to re-establish its reputation. After crucial meetings with business leaders like Laxmi Mittal and Mukesh Ambani on Friday, meeting the Prime Minister is a further step in the banking major reaffirming its commitment to India. Goldman Sachs Now Betting On Housing Recovery Instead Of Doom. Art Cashin On Bernanke’s Secret Banker Meeting To Keep EUROPE Afloat…!
Greece protests after man's debt-driven suicide - in pictures. Mayor Michael Bloomberg. Profiting From Goldman Sachs's A-List. What do AT&T (T), Apple (AAPL), American Express (AXP), and AFLAC (AFL) have in common?
They are all stocks which Goldman Sachs (GS) has a 100 million dollar plus stake in that are listed on Goldman’s 13F-HR filing. One filter investors may wish to consider when picking stocks is examining the 13F-HR Filings of major brokerage houses. These filings list the quarterly positions of major institutions. Goldman Sachs-Owned Firm Cashed In On Energy Department Loan Program (UPDATE) WASHINGTON -- Goldman Sachs' decision to handle the doomed Solyndra loan earned the investment banking giant, along with a nifty payday, bad press that the besieged firm could certainly have done without.
According to the now-bankrupt Solyndra, Goldman acted as its "exclusive financial advisor" on the deal -- an arrangement that was hardly surprising. Goldman has become synonymous with Wall Street influence in Washington, as the company's top executives shuttle back and forth between New York and the Treasury Department regardless of which party occupies the White House. Goldman's Hatzius: The American Housing Market Is Almost Out Of The Hole.
New Charges Possible in Insider Case Against Gupta. Scott Eells/Bloomberg NewsRajat Gupta, accused of giving information to a convicted hedge fund manager, leaving federal court on Thursday. Federal prosecutors said Thursday that they were likely to file a new indictment against Rajat K. Gupta, possibly adding new criminal charges in the insider trading case against the former head of the consulting firm McKinsey & Company. It was “more likely than not there will be a superseding indictment” filed in the case by the end of January, Richard C.
Tarlowe, an assistant United States attorney, said during a pretrial hearing in Federal District Court in Manhattan. Mr. The 63-year-old Mr. Judge Jed S. During the two-hour hearing, Mr. Mr.
Rajat Gupta’s lawyers may quiz Goldman chief. New York: Lawyers for former Goldman Sachs Group Inc Indian-origin director Rajat Gupta will get to question the investment bank's chairman Lloyd Blankfein and six others as part of a related civil lawsuit by the Securities & Exchange Commission ahead of Gupta's criminal trial on insider-trading charges in April. US District Judge Jed Rakoff said apart from Blankfein, Ian Horowitz a former trader who worked for convicted hedge fund billionaire Raj Rajaratnam and three other individuals associated with Galleon - Ananth Muniyappa, Brock Vandervliet and Leon Shaulov, can also be deposed in the civil case.
What next? Reuters.