Onyx Capital Advisors, a firm
that invests in small and medium enterprises in the Midwestern and
Southeastern US states, and its founder have been charged with fraud for
stealing millions of dollars from Detroit pension funds.
Ahead of Tuesday hearings on the 2008 collapse of the banking giant,
state records show Ohio pensions suffered hundreds of millions of
dollars in losses.
The country’s largest government pension fund, which owns 1.8 million
shares in the embattled investment bank, says the fund’s corporate
governance staff will examine Goldman practices and influence the makeup
of Goldman's board if needed.
Analysts say the U.S. Securities and Exchange
Commission’s civil fraud charges could force Goldman to pay hundreds of
millions in fines and restitution. The blow to the firm’s reputation
may be harder to salvage.
The government has accused Goldman Sachs of failing to disclose conflicts of interest in mortgage investments it sold as the housing market was waning.
Sheikh Hamed bin Zayed al Nahyan will become the new boss of Abu
Dhabi's SWF, replacing his late brother who died in a glider crash in a
lake in Morocco.
A new study found that all 59 funds that cover most teachers face
shortfalls, placing a burden on taxpayers to pay nearly three times as
much as the funds say they need to balance the books.
