The Wall Street Journal reports, the first-quarter profit of Goldman Sachs fell 23%, as sluggish demand for deal making continued to weigh on results, though revenue declined less than feared. An improved trading environment in the first quarter, came as a welcome sign of relief across Wall Street, though investment-banking activity remained choppy, especially on the mergers-and-acquisitions front.
Reuters reports, Spain threatened swift economic retaliation, against Argentina, after it seized control of YPF, the South American nation’s biggest oil company, in a move which pushed down shares in Spanish energy giant Repsol, the major shareholder. Repsol described Argentina’s move as “clearly unlawful and seriously discriminatory” and said it would take legal action. Spanish media condemned the Argentinean action, believed to be the biggest nationalization, in the natural resources field since the seizure of Russia’s Yukos a decade ago. Spain is demanding $10.5 billion in compensation.
Bloomberg reports, Anders Behring Breivik defended the killing of 77 people in July last year as necessary to stop the spread of a “cultural Marxist dictatorship” and warned of further attacks in Europe. The 33-year-old killed 69 people — some as young as 14 — at a Labor Party youth camp on Utoeya island, and detonated a car bomb, by the prime minister’s office, taking eight lives. He has been indicted on two terror charges as well as murder and if deemed sane by the court, may be sentenced to detention for at least 21 years.
Bloomberg also reports, Jamie Dimon, who was awarded $23 million for running JPMorgan last year, earned 67 times the average amount set aside for his investment bankers and traders, the widest gap among firms, that report divisional pay. Dimon, was one of the few bank CEOs who avoided a pay cut for 2011. According to Frank Glassner, a San Francisco-based partner at executive-pay consulting firm Meridian Compensation Partners, “JPMorgan has outperformed its peers, and its executive pay reflected that.”
The Wall Street Journal reports, the first-quarter profit of Goldman Sachs fell 23%, as sluggish demand for deal making continued to weigh on results, though revenue declined less than feared. An improved trading environment in the first quarter, came as a welcome sign of relief across Wall Street, though investment-banking activity remained choppy, especially on the mergers-and-acquisitions front.
Reuters reports, Spain threatened swift economic retaliation, against Argentina, after it seized control of YPF, the South American nation’s biggest oil company, in a move which pushed down shares in Spanish energy giant Repsol, the major shareholder. Repsol described Argentina’s move as “clearly unlawful and seriously discriminatory” and said it would take legal action. Spanish media condemned the Argentinean action, believed to be the biggest nationalization, in the natural resources field since the seizure of Russia’s Yukos a decade ago. Spain is demanding $10.5 billion in compensation.
Bloomberg reports, Anders Behring Breivik defended the killing of 77 people in July last year as necessary to stop the spread of a “cultural Marxist dictatorship” and warned of further attacks in Europe. The 33-year-old killed 69 people — some as young as 14 — at a Labor Party youth camp on Utoeya island, and detonated a car bomb, by the prime minister’s office, taking eight lives. He has been indicted on two terror charges as well as murder and if deemed sane by the court, may be sentenced to detention for at least 21 years.
Bloomberg also reports, Jamie Dimon, who was awarded $23 million for running JPMorgan last year, earned 67 times the average amount set aside for his investment bankers and traders, the widest gap among firms, that report divisional pay. Dimon, was one of the few bank CEOs who avoided a pay cut for 2011. According to Frank Glassner, a San Francisco-based partner at executive-pay consulting firm Meridian Compensation Partners, “JPMorgan has outperformed its peers, and its executive pay reflected that.”