Goldman Sachs Group Inc lost more than $1 billion on currency trades during the third quarter, recent regulatory filings show, offering some insight into why the firm, reported its worst quarter in a key trading unit since the financial crisis.
Firm Management
Dow Jones index for the first time closes above 16,000
The Dow Jones Industrial Average, for the first time, closed above the psychological threshold of 16,000, extending a stock rally that had already experienced a 22% spike so far this year.
Half of angel investors regret to making investments this year
A survey done by Worthworm showed the frustrations of angel investors who regretted making investments in 2013. Angel investors also gave their thoughts about overly optimistic financial projections.
Sony announces its plans to make fewer films; sets its eyes on television
Sony Pictures Entertainment executives announced that it would cut down the number of films it produces per year and will focus instead on higher-margin television production and operating TV channels.
Amazon to roll out comedy "Betas" in race for original online programming
Amazon will be releasing "Betas," a tech comedy show about app entrepreneurs in the Bay Area as it ramps up its original online programming to compete with Netflix and Hulu.
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The US Treasury Department will meet with the banking industry in December to give guidelines on how to deal with marijuana businesses in states that have legalized marijuana use.
The potential sale of the indices platform of Barclays, which includes the Barclays US Aggregate Bond Index, came at the heels of an approach by MSCI, an equity index provider, to acquire the index business.
Prior to meeting with UK's Members of the Parliament regarding claims that Royal Mail's shares in its initial public offering were undervalued, UBS issued a note to investors saying that they need to divest their shares in the postal service.
Sources told Bloomberg that the planned stock sale of India's top two mobile phone operator had postponed its original target completion this month, and was pushing for a stock sale next year.
Canaccord Genuity Group Inc said it will not be making more large purchases. Instead, the Canada-based non-bank brokerage will grow its UK wealth management unit through small deals.
India's Department of Disinvestment, which oversees the divestment of ownership stakes of the state of India in several companies, were pushing for a float to happen to capitalize on the rally of stocks on the financial bourse.
According to the joint statement by MTR Gaming Group, Inc and Eldorado HoldCo LLC, the amendments of the merger agreement included increases in cash consideration, payment per share to MTR, of which will be funded by Eldorado.
According to a Reuters report, the sale of Exxon Mobil Corp's controlling interests in utility and power firms Castle Peak Co Ltd and Hong Kong Pumped Storage Development Co would help the global oil firm return money to investors and focus more on its core businesses.
Google Ventures-backed search-advertising startup Trada was said to have laid off most of its staff. An unnamed source said that the company might be anticipating a sale or shutdown.
