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Goldman plans big Facebook selloff Goldman Sachs Group Inc. and its funds announced plans to offload about $1-billion of Facebook Inc. (about half their stake) at the time of the IPO. That’s more than twice what they originally planned.
RBC angling for Bank of America wealth units The Globe’s Tara Perkins confirms initial reports that Canada’s largest bank is among the suitors of BofA’s non-U.S. wealth management businesses
Should Greece’s banks tie up their laces? Some policymakers debate whether Greece is on the verge of a bank run. If so, the financial sector will either need gobs of money from the European Central Bank and other lenders, or a decision could be made to “pull the plug” on Greece’s financial sector.
Basel III gets tough on big banks The 29 largest and “most systemically-important” global banks will need to raise another $566 billion in new capital by 2018 to meet the new, tough Basel III bank standards.
Who wants a piece of gold? The demand for gold increased by 16 per cent in the last year to 1,098 tonnes. And there was $59.7-billion (U.S.) spent around the world on gold in the first quarter of 2012. Strong, but still off last year’s record highs.
Burst bubble in oil to natural gas ratio? Looks like the crude oil to natural gas ratio has hit its top and is headed down. The ratio was 54:1 in mid April and now sits about 35 per cent lower at 35:1. The question is: Where’s the bottom?