Goldman Sachs’s Asia Unit Swings to 2011 Loss

Goldman Sachs Group Inc. (GS) lost money in Asia last year for
the first time since 2008 as the Wall Street firm’s stock investments
in the region, led by a holding in China’s biggest bank, backfired.
A 46 percent decline in Asia revenue compared with 2010 was driven by
markdowns on the company’s stakes in public equities, the firm disclosed
in its annual 10-K filing with the U.S. Securities and Exchange Commission.
The bank lost $103 million in the region, compared with a $2.08 billion
profit a year earlier, according to the New York-based company.

goldman-s-asia-unit-lost-money-first-time-since-2008-on-soured-stock-bets.html

2 comments

  1. I will immediately snatch your rss as I can’t to find your email subscription link or newsletter service. Do you’ve any? Please permit me realize so that I could subscribe. Thanks.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>