Exclusive: Goldman Sachs on hunt for bargain crypto firms after FTX fiasco

Exclusive: Goldman Sachs on hunt for bargain crypto firms after FTX fiasco

LONDON, Dec 6 (Reuters) – Goldman Sachs (GS.N) plans to spend tens of millions of dollars to buy or invest in crypto companies after the collapse of the FTX exchange hit valuations and dampened investor interest. FTX’s implosion has heightened the need for more trustworthy, regulated cryptocurrency players, and big banks see an opportunity to … Read more

Florida pulls $2 bln from BlackRock in largest anti-ESG divestment

Florida pulls  bln from BlackRock in largest anti-ESG divestment

Dec 1 (Reuters) – Florida’s chief financial officer said on Thursday his department would pull $2 billion worth of its assets managed by BlackRock Inc (BLK.N), the biggest such divestment by a state opposed to the asset manager’s environmental, social and corporate governance (ESG) policies. The move will hardly dent BlackRock’s $8 trillion in assets … Read more

Buffett’s Berkshire discloses $4.1 bln TSMC stake

Buffett’s Berkshire discloses .1 bln TSMC stake

Nov 14 (Reuters) – Berkshire Hathaway Inc (BRKa.N) said it bought more than $4.1 billion of stock in Taiwan Semiconductor Manufacturing (2330.TW), , a rare significant foray into the technology sector by billionaire Warren Buffett’s conglomerate. The news sent shares in TSMC up more than 6% in Taiwan on Tuesday, as it boosted investor sentiment … Read more

Musk sells Tesla shares worth $3.95 bln days after Twitter takeover

Musk sells Tesla shares worth .95 bln days after Twitter takeover

Nov 8 (Reuters) – Tesla Inc (TSLA.O) Chief Executive Officer Elon Musk has sold 19.5 million shares of the electric vehicle maker worth $3.95 billion on Tuesday, according to U.S. securities filings, days after he completed the $44 billion takeover of Twitter Inc. Musk, the world’s richest man, had about $20 billion in cash after … Read more

Berkshire Hathaway posts quarterly loss as stock holdings fall

Berkshire Hathaway posts quarterly loss as stock holdings fall

Nov 5 (Reuters) – Berkshire Hathaway Inc (BRKa.N) on Saturday posted a third-quarter loss, as the conglomerate run by billionaire Warren Buffett said it lost money on its stock investments and from insurance underwriting. The net loss of $2.69 billion, or $1,832 per Class A share, compared with a profit of $10.34 billion, or $6,882 … Read more

Credit Suisse seeks billions from investors in make-or-break overhaul

Credit Suisse seeks billions from investors in make-or-break overhaul

ZURICH, Oct 27 (Reuters) – Credit Suisse plans to raise 4 billion Swiss francs ($4 billion) from investors, cut thousands of jobs and shift its focus from investment banking towards its rich clients, as the bank attempts to put years of scandals behind it. The Swiss lender outlined on Thursday what its chairman Axel Lehmann … Read more

Elon Musk visits Twitter headquarters ahead of takeover deadline

Elon Musk visits Twitter headquarters ahead of takeover deadline

Oct 26 (Reuters) – Billionaire Elon Musk said he paid a visit to Twitter Inc’s (TWTR.N) headquarters in San Francisco on Wednesday, ahead of a court-ordered deadline to close his $44 billion deal for the social media platform. “Entering Twitter HQ – let that sink in!” said the caption of a video that Musk tweeted … Read more

Banks forced to hold on to Twitter deal debt, sources say

Banks forced to hold on to Twitter deal debt, sources say

NEW YORK, Oct 21 (Reuters) – The banks providing $13 billion in financing for Tesla CEO Elon Musk’s acquisition of Twitter Inc (TWTR.N) have abandoned plans to sell the debt to investors because of uncertainty around the social media company’s fortunes and losses, people familiar with the matter said. The banks are not planning to … Read more

Goldman plans major reorganization to combine key units -source

Goldman plans major reorganization to combine key units -source

LONDON/NEW YORK, Oct 16 (Reuters) – Goldman Sachs (GS.N) is planning a major reorganization to combine its biggest businesses into three divisions with its investment banking and trading businesses being merged into a single unit, a source familiar with the matter told Reuters. The plans are expected to be announced on Oct. 18 alongside Goldman’s … Read more

Wall Street banks’ profits slide as economic clouds loom, some beat forecasts

Wall Street banks’ profits slide as economic clouds loom, some beat forecasts

Oct 14 (Reuters) – Profits slid at Wall Street’s biggest banks in the third quarter as they braced for a weaker economy while investment banking was hit hard, but investors saw a silver lining with some banks beating estimates. JPMorgan Chase & Co (JPM.N), Morgan Stanley (MS.N), Citigroup Inc (C.N) and Wells Fargo & Co’s … Read more