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Goldman Sachs fears risks if rivals BNP Paribas and Credit Suisse plead guilty to violating sanctions, abetting tax evasion

The head of US bank Goldman Sachs has warned that guilty pleas from rivals BNP Paribas and Credit Suisse, under legal proceedings in the United States, could hurt the financial system. The two European banks, under probes for violating US sanctions……

Thanks to technology, the traditional hierarchies of state and business are falling away

Humankind is going through one of its rare but profound paradigm shifts. And as ever, it’s driven by technology. From the stone age to the iron age, from farming to Fordism, how we make and do things has always affected how society operates. Marx may have been overly deterministic about the…

Goldman Sachs decides to stop trading uranium after links to Iran exposed

By David Sheppard LONDON (Reuters) – Goldman Sachs and Deutsche Bank are quietly trying to get out of a business few people know they are even in: trading supplies of raw uranium known as yellowcake. In the last four years, the banks have amassed low-grade stockpiles of the nuclear fuel…

U.S. seeks $1.1 million from ex-Goldman Sachs trader Fabrice Tourre

US regulators are seeking more than $1.1 million from ex-Goldman Sachs trader Fabrice Tourre after he was found to have defrauded investors on mortgage bonds. The Securities and Exchange Commission asked in a filing late Monday for $910,000 in penalties from Tourre, who was found liable of fraud by a…

Switzerland probes Goldman Sachs over alleged labor law violations

Swiss labour inspectors said Thursday they were investigating the Zurich offices of US bank Goldman Sachs after staff complained about breaches of rules on working hours. The issue of bankers’ often-lengthy working hours has hit the headlines following the death of a trainee at the London offices of Bank of…

Ex-Goldman Sachs director Rajat Gupta fined $13.9 million for insider trading

A federal judge Wednesday ordered former Goldman Sachs board member Rajat Gupta to pay a $13.9 million penalty related to insider trading, the Securities and Exchange Commission announced. Under the order, signed by US Judge Jed Rakoff, Gupta is also barred from acting as an officer or director of a…

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…

Goldman Sachs dumps stake in Village Voice Media to avoid ties to sex trafficking allegations

New York Times columnist Nicholas Kristof has revealed some information on one of Goldman Sachs’ investments that has the private equity firm furiously attempting to control what it apparently sees as potential damage to its image. Kristof wrote in his column on Saturday that Village Voice Media, which owns a…

U.S. judge OKs wiretap evidence in former Goldman Sachs director trial

NEW YORK — A US judge said he will allow prosecutors to play recordings of wiretapped phone conversations in the insider trading trial of former Goldman Sachs director Rajat Gupta. Judge Jed Rakoff’s ruling, made public in court papers Tuesday, was a blow to Gupta, whose scheduled May 21 criminal…

Goldman Sachs director quits ‘morally bankrupt’ Wall Street bank

By Juliette Garside – Greg Smith resigns as executive director of Goldman’s European equity derivatives business after devastating attack A Goldman Sachs director in London has resigned after publishing a devastating open letter accusing senior staff of being “morally bankrupt” and bent on extracting maximum fees from clients by offloading…

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