A former Goldman Sachs Group Inc. investment banker will pay $100,000 to resolve U.S. regulatory claims that he made improper contributions to a Massachusetts treasurer while seeking state underwriting business.
Goldman Sachs Group Inc. asked to be removed from two state underwriting teams in Massachusetts after Neil Morrison , the firm’s Boston-based public-finance banker, helped Treasurer Tim Cahill ’s failed run for governor.
Neil Morrison , a Goldman Sachs Group Inc. banker fired in December, began advising former Massachusetts Treasurer Tim Cahill ’s gubernatorial campaign in 2009 even as he was seeking to underwrite state bonds, according to e-mails obtained through a public records request.
ArcelorMittal, the world’s biggest steelmaker, said it expects an earnings recovery in 2013 after posting the lowest quarterly profit in three years as the European debt crisis eroded demand for the metal.
ArcelorMittal, the biggest steelmaker, is seeking about $3.5 billion through a sale of shares and bonds that automatically become stock to reduce debt. It also announced a bid for a ThyssenKrupp AG plant in Alabama.