Results tagged “stock”

With populist rage still simmering over the global financial crisis, TARP bailout, and ridiculous executive pay, investment bank Goldman Sachs says many of its top executives will not be receiving cash bonuses this year. Instead, the NY Times reports, "the 30 executives will be paid in the form of long-term stock — an arrangement that means they will not get big year-end paydays, but one that could turn out to be enormously lucrative if Goldman’s share price rises over time."

Today, as some economists said the recession was over (unemployment will still hit 10% though!), the Dow Jones crossed the 9,900 mark. According to CNBC, stocks were "fueled by earnings optimism, but then pulled back as investors took some profits." Another fun fact: "This came after the Dow logged its highest close in over a year on Friday, which, coincidentally, was also the two-year anniversary of its record close above 14,000." Jeez, 14,000—that seems so long ago.

As speculated earlier this morning, U.K-based Barclays has reached an agreement to acquire a large chunk of Lehman Brothers' U.S. operations, which, according to the Financial Times, "perform securities underwriting tasks, provide merger advice to lucrative clients, and conduct trading." Though the cost of the deal is unclear, it's expected to quickly boost Barclays' U.S. presence by enabling the bank to assemble a pre-existing American investment banking business. As for the tainted Lehman Brothers assets, the Journal notes that Barclays could potentially could leave behind Lehman's troubled assets "at the parent level." Shares in Barclays fell 12% in afternoon London trading today, which is consistent with other nosediving UK financial stocks.