Company Search

Blackstone Group, a major private equity firm, has bought up 200,000 houses in cities hardest hit by the economic meltdown. They hope to profit by renting homes to poor people and securitizing the cash flow - the very plan that caused the crisis in the first place. Read More

Several major banks - notably Citibank, Deutsche Bank and HSBC - have suspended over a dozen global foreign exchange traders in a growing scandal over manipulation in the $5.3 trillion-a-day market. Barclays, Goldman Sachs, JP Morgan, Royal Bank of Scotland, Standard Chartered and UBS are also being investigated. Read More

Goldman Sachs, the Wall Street investment bank, is being sued in London for selling Libya "worthless" derivatives trades in 2008 that the country's financial managers did not understand. Libya says it lost approximately $1.2 billion on the deals, while Goldman made $350 million. Read More

Three top executives at Anglo Irish bank are on trial for a secret scheme to buy their own bank's shares that eventually triggered the 2008 collapse of the Irish economy. The bankers allegedly hatched the plan to cover up bets made by Sean Quinn, once Ireland's richest man. Read More

Dahabshiil, a Somali money transfer company, has won a temporary reprieve from Barclays, the last major bank to allow remittances to Somalia. The agreement comes just as a new report estimates that African expatriates lose $1.8 billion a year in transfer fees to companies like Moneygram and Western Union. Read More

David Tepper, the founder of New Jersey-based Appaloosa Management, was the world's highest earning hedge fund manager for the second year in a row, according to the Rich List published earlier this month. Tepper earned $3.5 billion in 2012, a major increase on his $2.2 billion take home income in 2012. Read More

Paul Singer, the billionaire hedge fund manager, has claimed victory in a lawsuit to force Argentina to fork out almost 17 times more than he paid to buy bonds issued by the country. Read More

Bank of America has agreed to pay the government $9.65 billion to settle charges of misleading investors over mortgage lending in the run up to the 2008 financial crisis. The bank will also pay out an additional $7 billion to help borrowers and communities affected by the loans. Read More

Carmen Segarra, a former senior examiner with the Federal Reserve Bank of New York, has revealed how government regulators failed to adequately police Goldman Sachs, the Wall Street investment bank. (The Federal Reserve is the central banking system of the U.S. chartered by Congress to supervise private banks) Read More

Multinational banks are preparing to pay out billions of dollars in fines to settle charges of foreign exchange manipulation. Some 19 investigations in ten different legal jurisdictions are now winding their way to completion and analysts says the final tally may hit $41 billion. Read More