Roger Freeman News
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Apollo Global Management LLC, the private-equity firm run by Leon Black, reported first-quarter profit that beat analysts’ estimates as the value of its fund holdings climbed.
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Blackstone Group LP, the world’s biggest buyout firm, said first-quarter profit rose as market gains lifted the carrying value of its holdings. The shares fell after the company said a lackluster economy may curtail investing.
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Fortress Investment Group LLC, the first publicly traded private-equity and hedge-fund manager in the U.S., said fourth-quarter profit more than doubled on higher fee income from managing funds.
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Goldman Sachs Group Inc. said two leaders of its biggest division are leaving the company a week before it reports what some analysts predict will be the lowest annual profit since the firm went public.
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Goldman Sachs Group Inc. ’s stake in Facebook Inc. and plan to offer shares to wealthy clients shows how Chief Executive Officer Lloyd Blankfein ’s model of investing the firm’s own capital continues to pay off.
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Wall Street bankers and traders, given hope by a market rebound in the first quarter, are now seeing earnings and paychecks threatened by turmoil in Greece in what is becoming an annual cycle.
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Goldman Sachs Group Inc. is losing its edge in fixed-income trading, the firm’s biggest business and the one that led to record earnings last year.
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Volatile moves in the equity and fixed-income markets have analysts wondering whether this month’s trading will lead to profits or pain for Wall Street’s biggest banks.
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Morgan Stanley fell in New York trading after reporting a 50 percent drop in earnings on the biggest decline in trading revenue among Wall Street firms. The company said it will cut headcount by 4,000 this year.
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Wall Street’s biggest banks, rebounding after a government bailout, are set to complete their best two years in investment banking and trading, buoyed by 2010 results likely to be the second-highest ever.
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