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Goldman loses $428 million in third quarter

(Reuters) - Goldman Sachs Group Inc lost $428 million during the third quarter, only its second quarterly loss as a public company, hurt by sharp declines in the value of investment securities and customer trading assets. The largest U.S. investment bank lost 84 cents per share, compared with earnings of $2.98 per share a year earlier. Analysts had been…

Yahoo readies finances for potential buyers: sources

(Reuters) – Yahoo Inc’s long-time advisers Goldman Sachs Group Inc and Allen & Co are preparing to give potential buyers financial information, in a sign the troubled Internet giant is ready to put itself on the block, sources close to the situation said. Over the last few weeks, potential buyers…

US banks to settle on financial crisis penalties: report

NEW YORK (AFP) – Several major US banks are close to an agreement with the Wall Street regulator to settle fraud allegations related to the “toxic” mortgages behind the 2008 financial crisis, a report said Friday. An initial agreement with the Securities and Exchange Commission (SEC) could be settled next…

No change: Wall Street finds loophole in financial reform

NEW YORK — US banks have found a way to continue betting their own money on some investments, despite a new law’s restrictions on proprietary trading, the Financial Times reported on Thursday, citing Wall Street executives. The “Volcker rule” provision of the Dodd-Frank financial reform limits the extent to which…

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