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Goldman Sachs to invest in Japanese green energy ventures
US investment banking giant Goldman Sachs said Monday it will start investing in Japanese renewable energy projects, with a reported $2.9 billion outlay over the next five years. The injection comes after Japan’s government stepped into the green power market to set minimum prices in a bid to encourage the…
Ex-Goldman Sachs trader charged with $118 million trading fraud
A former trader with US banking giant Goldman Sachs was arrested Wednesday on criminal charges of fraud linked to a scheme to hide an $8 billion futures bet, officials said. Matthew Marshall Taylor “was in FBI custody as of early this morning,” a source familiar with the government’s case told…
Goldman Sachs and Shell win Public Eye ‘shame’ awards at Davos
Campaigners at Davos on Thursday awarded their annual Public Eye shame awards to Goldman Sachs and Shell “for particularly glaring cases of companies’ greed for profit and environmental sins”. At an “award ceremony” on the sidelines of the World Economic Forum in Davos, the Swiss chapter of Greenpeace and the…
Former Goldman Sachs director gets 2 years for inside trades
NEW YORK — Former Goldman Sachs board member Rajat Gupta, the biggest target of a US government blitz on insider trading, was sentenced to two years in prison Wednesday, far less than what prosecutors had demanded. US District Judge Jed Rakoff in New York cited Gupta’s “extraordinary” contribution to humanitarian…
Former Goldman Sachs director faces sentencing
NEW YORK — Rajat Gupta, the ex-Goldman Sachs director found guilty of insider trading, was to be sentenced Wednesday and wants the judge to have him do charity work in Rwanda rather than time in a US prison. Gupta, 63, faces between eight and 10 years behind bars if prosecutors…
Goldman Sachs ‘in bid to change’ Volcker rule
Goldman Sachs (NYSE: GS – news) is seeking changes to the Volcker rule, which keeps banks from speculative trades in their own accounts, to protect its merchant-banking unit, The Wall Street Journal reported. The rule, named after former Federal Reserve chairman Paul Volcker, was part of the sweeping reforms introduced…
Matt Tabbi: DOJ ‘playing softball’ with Wall Street firms
Matt Taibbi of Rolling Stone on Tuesday night blasted the Department of Justice for not prosecuting Goldman Sachs or any of its employees despite a nearly year-long fraud investigation. “They haven’t done a single thing, I mean that’s what’s so incredible about it,” he told Current TV host Eliot Spitzer.…
SEC ends investigation of Goldman Sachs in subprime mortgage crisis
The US Securities and Exchange Commission has decided not to file any charges against Goldman Sachs over its sale of subprime mortgage-backed products, the investment bank has said. Goldman Sachs was notified Monday by SEC staff “that the investigation into this offering has been completed… and that the staff does…
Goldman Sachs invests $9.6 million in New York inmate rehabilitation
New York’s notorious Rikers Island jail would not immediately suggest an obvious source of lucrative profits for the banking industry. But investment giant Goldman Sachs is now hoping to make potentially millions of dollars by helping persuade the prison’s inmates to turn over a new leaf. The strange turn of…
Goldman Sachs developing in-house private bank
Goldman Sachs said Tuesday it is developing its private bank for wealthy clients, particularly in fast-growing countries and in Europe, where it hopes to pick up the slack from struggling local banks. “We’ve been in the wealth business for a long time,” said David Viniar, Goldman’s chief financial officer, said…
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