"Following preliminary investigations, FSA has decided to commence a formal enforcement investigation into Goldman Sachs International in relation to recent SEC allegations. FSA will be liaising closely with SEC in this review," FSA said in a statement today. No further details were provided.
Global investment and financial services major Goldman Sachs will pump in more direct investment into India, besides expanding operations, Lloyd C Blankfein, president and chief operation officer, Goldman Sachs Group Inc said on Thursday.
World's first "rock star" economist, he coined the popular term "BRIC"
This makes Berkshire the sixth-largest external investor in the bank
Gupta, who has not been indicted in the criminal trial of Galleon Group founder Raj Rajaratnam, faces civil charges from the Securities and Exchange Commission for allegedly passing confidential information about Goldman Sachs to the defendant.
Financial service provider Goldman Sachs Group Inc's shareholders have asked the company to cut the size of bonuses to be paid to executives and reward them instead, a media report says.
Blankfein will at the upcoming trial of Galleon hedge fund founder Raj Rajaratnam.
Goldman Sachs is seeking to avoid a fraud charge as part of its settlement with the United States market regulator SEC, which had charged the investment banking major with defrauding investors by misrepresenting facts, a media report said.
Goldman's relationship with ICBC was similar to that of other big global financial institutions that purchased stakes in Chinese banks and insurers.
The Wall Street Journal said the move, which is being closely watched, may be followed by other players at Wall Street. After months of internal debate at Goldman, the paper said the seven top executives at the firm, including chief executive officer Lloyd Blankfein, asked the board's compensation committee to grant them no bonuses.
Also to be questioned under oath by lawyers of the SEC and Gupta is Greg Ormond of Exemplar Wealth.
Low-cost carrier SpiceJet will receive about $65 million within a week as the second tranche of investment by US private equity firm WL Ross and Co and by Goldman Sachs.
Will Judge Jed Rakoff be swayed by the former Goldman director's influential well-wishers or will he deliver stiffer punishment?
Reserve Bank of India Governor Raghuram Rajan took charge of India's central bank when the rupee seemed to be in a tailspin while the country was facing runaway inflation.
Justice Ruth Bader Ginsburg, who handles emergency applications from the 2nd Circuit, on Wednesday denied Gupta's request to stay out of prison.
Investors ask if the hugely successful investment banking model can be fully repaired.
Market data service provider Capital IQ is buying smaller rival TheMarkets.com for $300 million, says a media report.
India is likely to benefit from the exodus of high tech jobs from North America as over 6 million jobs are expected to shift overseas in a decade.
Alibaba Group Holding Ltd's initial public offering now ranks as the world's biggest in history at $25 billion, after the e-commerce giant and some of its shareholders sold additional shares.
Wall Street research analysts have suffered rounds of layoffs, big pay cuts, and accusations that they routinely lied to the investing public. Now there's a new worry -- that their jobs are being shipped overseas.
Focus on Berkshire's size has grown over the years as it has amassed more than 80 businesses
Domestic equity investors' wealth eroded by more than Rs 4.43 lakh crore on Monday as fears of a financial contagion triggered by one of the biggest bank failures in the US roiled market sentiments. After a strong opening, Indian stocks went into a tailspin with the benchmark 30-share BSE Sensex tumbling nearly 900 points to close at 58,237.85 points -- sliding for the third straight trading session. The NSE Nifty too declined 258.60 points to end at 17,154.30 points.
The government has shortlisted Cyril Amarchand Mangaldas for giving legal advice on upcoming mega IPO of India's largest insurance company LIC, an official said. Four law firms - Crawford Bayley, Cyril Amarchand Mangaldas, Link Legal and Shardul Amarchand Mangaldas & Co - had made presentations before the Department of Investment and Public Asset Management (DIPAM) on September 24. Following presentations, Cyril Amarchand Mangaldas has been selected as legal advisor for the initial public offering (IPO) of Life Insurance Corporation (LIC), the official told PTI.
The Gupta case is SEC v. Gupta, US District Court, Southern District of New York, No. 11-07566.
Here are some facts about Rishi Sunak and his India connections.
Akshata Murty, the wife of Britain's Prime Minister Rishi Sunak, stands to earn Rs 68.17 crore in dividend income from her shareholding in India's second-largest IT firm Infosys. Murty, daughter of Infosys co-founder Narayana Murthy, held 3.89 crore shares of Infosys at the end of December, according to company filings with the stock exchanges. Infosys declared a final dividend of Rs 17.50 per share for FY23 (April 2022 to March 2023).
John Dowd, Rajaratnam's lawyer, asked the jury why Rajat Gupta, 62, would risk his entire career and reputation for nothing.
Paytm's pre-IPO investors, which include likes of Warren Buffet's Berkshire Hathway, SoftBank and Alibaba, do not seem to be in a hurry to exit India's leading digital payments brand as they continue to believe in its long-term prospect, analysts said. On Tuesday, 86 per cent of Paytm's shares became free to trade after the end of the lock-in period, allowing investors to sell shares that haven't yet been allowed onto the market. Market participants have been speculating on Paytm, post-expiry of lock-in for pre-IPO investors.
Murty, daughter of Infosys co-founder Narayana Murthy, held 3.89 crore shares, or 0.93 per cent, of Infosys at the end of September, according to company filings with the stock exchanges.
Foreign money has been pouring into India's fast-growing e-commerce sector, with investors ranging from Japan's Softbank Corp to Singapore's Temasek Holdings.
Twitter Inc named Anthony Noto as CFO, putting the well-regarded former Goldman Sachs executive who led its successful November IPO in charge of finances.
The likes of Microsoft and Cohesity have offered crore plus salaries to some students.
The Union government could target a fiscal deficit of 5.8-6 per cent of nominal GDP for 2023-24, and it should continue its capital expenditure push and look to simplify the personal income tax regime, economists recommended Finance Minister Nirmala Sitharaman and her team during their pre-Budget interaction on Monday. Starting last week, Sitharaman had eight pre-Budget consultations this time. More than 110 invitees representing seven stakeholder groups participated in these meetings, the finance ministry said in a statement. The stakeholder groups included representatives and experts from agriculture and agro-processing industry; industry, infrastructure & climate change; financial sector and capital markets; services and trade; social sector; trade unions and labour organisations; and economists.
India Inc was, perhaps, watching out for a repeat of the dot-com bubble burst of the early 2000s.
Some leading Indian companies are likely to see their earnings declining if the Indian currency depreciates further, analysts and finance heads say.
The shutdown was the longest in recent memory, and prompted US Securities and Exchange Commission Chair Mary Jo White to call for a meeting of Wall Street leaders to help insure the 'continuous and orderly' functioning of securities markets.
What do we need more of: Leaders who dominate global institutions or local leaders with a 'Make-in- India' mindset?
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