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BP
Latest Headlines
Latest Headlines
Goldman Sachs PR decline continues to fascinate; low blow from major paper?
The fact that Goldman Sachs (NYSE: GS ) has suffered significant public relations damage over the course of the financial crisis is well known. But it continues to fascinate people. The New York Times weighed in with an interesting look at Goldman's PR woes in relation to those of BP and To
BP not a systemic risk
Until recently, British Petroleum was a terrific counterparty. Its credit rating was deservedly stellar, and it threw off a lot of cash. It was an active oil trader, and many banks were happy to transact with it. But that was then.
Fitch Ratings just downgraded BP's credit rating six notches t
Goldman Sachs hired by British Petroleum
Goldman Sachs ( NYSE: GS ) can certainly empathize with British Petroleum, which is going through a disastrous PR crisis in the wake of the Gulf Coast spill. So I guess it is not surprising that the embattled oil company has retained Goldman Sachs--along with the Blackstone Group and Credit Suis
BP, a derivatives bonanza?
MarketWatch notes that JPMorgan ( NYSE: JPM ), after it extended a massive credit line to Exxon in the wake of the Valdez crisis, came up "with a novel financial instrument" called the credit default swap ( CDS news) as a way to hedge against the company ever going bust. Will anything sim
T. Boone Pickens' latest plans
Here's one hedge fund manager who is back in a big way: T. Boone Pickens. The one-time raider reinvented himself as a hedge fund manager and gadfly for energy independence only to get stuck with huge losses and redemption requests in 2008. But 2009 is another story: He's up 79 percent, accordi
Goldman Sachs, Morgan Stanley lead in commodities
We noted recently that hedging commodities poses big risks for traditional hedgers, ag companies, airlines, energy companies and the like. Big farm corporation Bunge stands as a cautionary tale. There is indeed a fine line between hedgers and speculators at times. But for the Wall Street deale
