The Wall Street Journal reports, Investigations are deepening into the potential involvement of Goldman Sachs employees, in the high-profile Galleon Group insider-trading ring. U.S. prosecutors and securities regulators are investigating, whether a senior Goldman investment banker, gave Galleon hedge-fund traders advance word, of pending health-care deals. The banker, whom the people identified as Matthew Korenberg, is a San Francisco-based managing director for Goldman. Mr. Korenberg is the most senior-level Goldman employee, to be investigated in connection with the Galleon case, which has come to symbolize corruption on Wall Street.
Reuters reports, Spain’s economy faces a “crisis of huge proportions”, a minister said on Friday, as unemployment hit its highest level in two decades, and Standard and Poor’s weighed in, with a two-notch downgrade, of the government’s debt. Spain’s unemployment rate shot up to 24 percent in the first quarter, the highest level since the early 1990s, and one of the worst jobless figures in the world. With the economy shrinking, Spain has little hope of meeting tough public deficit targets this year, even as the government makes tough cuts.
Finally Reuters also reports, Amazon.com’s quarterly results beat Wall Street’s most bullish expectations, as heavy spending by the world’s largest Internet retailer began to pay off, through sales of more digital products on its new Kindle Fire tablet. Amazon shares surged almost 15 percent, increasing the company’s market value by more than $10 billion. Analysts cheered first-quarter earnings and revenue, which comfortably exceeded their forecasts. Shares in the company leapt to $225 in extended trading, further swelling the company’s already lofty valuation of more than 70 times earnings.
The Wall Street Journal reports, Investigations are deepening into the potential involvement of Goldman Sachs employees, in the high-profile Galleon Group insider-trading ring. U.S. prosecutors and securities regulators are investigating, whether a senior Goldman investment banker, gave Galleon hedge-fund traders advance word, of pending health-care deals. The banker, whom the people identified as Matthew Korenberg, is a San Francisco-based managing director for Goldman. Mr. Korenberg is the most senior-level Goldman employee, to be investigated in connection with the Galleon case, which has come to symbolize corruption on Wall Street.
Reuters reports, Spain’s economy faces a “crisis of huge proportions”, a minister said on Friday, as unemployment hit its highest level in two decades, and Standard and Poor’s weighed in, with a two-notch downgrade, of the government’s debt. Spain’s unemployment rate shot up to 24 percent in the first quarter, the highest level since the early 1990s, and one of the worst jobless figures in the world. With the economy shrinking, Spain has little hope of meeting tough public deficit targets this year, even as the government makes tough cuts.
Finally Reuters also reports, Amazon.com’s quarterly results beat Wall Street’s most bullish expectations, as heavy spending by the world’s largest Internet retailer began to pay off, through sales of more digital products on its new Kindle Fire tablet. Amazon shares surged almost 15 percent, increasing the company’s market value by more than $10 billion. Analysts cheered first-quarter earnings and revenue, which comfortably exceeded their forecasts. Shares in the company leapt to $225 in extended trading, further swelling the company’s already lofty valuation of more than 70 times earnings.