Goldman Sachs Swoops Like A Vulture
While all around them companies are under serious pressure it seems that major US financial institution Goldman Sachs can do no wrong. The group has just reported profits which far exceeded the downbeat forecasts of analysts and the stock has responded with a near 10% rise over the last week, much of it in anticipation of good results. So how is Goldman Sachs swimming against the tide?
Unlike many of their counterparts, it seems as though Goldman Sachs has been able to retain a steady flow of finance at prices which make it viable to investment in a number of distressed ventures. By using their financial skills to steady many of these investment funds, they have been able to take substantial stakes at rock bottom prices. However, it would be foolish to suggest that everything which Goldman Sachs touches turns to gold, as this will not be the case.
The results announced by the company were well in advance of even the most recent forecasts, but it seems as though Goldman Sachs is one of the very few financial companies which has actually benefitted in any shape or form. Whether the group can carry on this trend into the next set of results remains to be seen.
Share this..
Related stories
Barclays bank pays former head £161,000 a month
Frits Seegers, the former head of Barclays retail and commercial banking operation, is in line to receive almost $250,000 a month from the company until at least the year-end 2010 even though he left the business in November 2009. He was one of the more high-profile victims of a management and structure shake up although under his contract he is entitled to the above monthly payment until at least...
Read MoreIs The MSN And Yahoo! Love Match Back On
After a great deal of disbelief in the markets after MSN and Yahoo! recently announced that takeover / merger talks were over it seems that pressure from shareholders on both sides has pushed the parties back together. While officially they are in discussions about a possible advertising joint venture there are many in the market who believe this is a cover story for re-ignited merger talks. M...
Read MoreIs the UK car manufacturing industry on the brink of collapse?
Amid claims that one of the U.K.'s largest car manufacturing plants is on the verge of collapse, the Unite union has today stepped in to try and pressurise the UK government into forwarding a life-saving rescue package. While the union has refused to name the plant at risk it has confirmed that upwards of 6000 jobs are potentially at risk. This is a direct consequence of the collapse in the UK car...
Read MoreBlackpool Council buys Tower and Winter Gardens
In a move to try and prevent tourist numbers declining yet further in the Blackpool area, the Blackpool Council has today announced the purchase of Blackpool Tower and the Winter Gardens from entrepreneur Trevor Hemmings. The total cost is in the region of £39 million which includes a £10 million refurbishment of the ageing Tower. Trevor Hemmings has long been represented in the area having v...
Read MoreBank holds interest rates
The Bank of England has held interest rates at 5.5 per cent.Following May's quarter-point hike to the current base rate, the monetary policy committee (MPC) approved the hold in their June meeting earlier today.The decision comes as no surprise to analysts, who have pointed out the significant psychological impact two successive rate hikes would have on consumers' spending. Two years have passed s...
Read More