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Global Investing News
Goldman Raises $5 Billion to Repay TARP; Cost Cutting Will Save Royal Phillips $664 Million; Johnson & Johnson Earnings Saved By Cost Cuts; Singapore Forecasts 6%-9% 2009 Decline; Discover to Cut 500 Jobs; LIBOR Rate Dropping Fast; Coal Prices to Stay Low in 2009; Madoff Firm Files Bankruptcy
- A day after posting better-than-expected quarterly earnings, Goldman Sachs Group Inc. (GS) sold $5 billion in stock to repay federal bailout money. All totaled, Goldman sold 40.65 million in shares at $123 a piece, 5.5% below Monday’s closing price, Reuters reported. Goldman received a total of $10 billion from the Troubled Asset Relief Program.…
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