Golman Sachs may offer stock to raise capital

Goldman Sachs Group Inc. is considering raising new capital through a stock offer as part of a plan to repay government funds, according to a report Friday in The Wall Street Journal.

NEW YORK — Goldman Sachs Group Inc. is considering raising new capital through a stock offer as part of a plan to repay government funds, according to a report Friday in The Wall Street Journal.

Last fall, Goldman received $10 billion in government funds as part of the Treasury Department’s program aimed at kickstarting the credit markets. Goldman executives in recent weeks have said they would like to repay the government loan in the near future.

An announcement from Goldman (NYSE:GS) about the offer could come as early as next week, according to the Journal report citing anonymous sources. A Goldman spokesman declined to comment.

Goldman, widely considered among the strongest banks during the credit meltdown and recession, is scheduled to report its first-quarter results Tuesday. Analysts polled by Thomson Reuters, on average, forecast the New York-based bank will earn $1.60 per share for the quarter.

Shares of Goldman have been steadily climbing in recent weeks as financial stocks have led a rally in the market. Goldman shares have risen 47 per cent since the beginning of the year. Goldman shares closed Thursday at $124.33.

Just Posted

Red Deer to get new plan to end homelessness as problem persists

Despite some successes there’s ‘a long way to go,’ says manager

Canada ranks 16th on World Economic Forum’s annual gender gap list

TORONTO — Canada has landed the 16th spot in the World Economic… Continue reading

Steel, aluminum tariffs impacting one-third of Canadian exporters: poll

OTTAWA — More than one-third of Canadian exporters say they have been… Continue reading

Canada has fifth biggest AI workforce, but still lacks diversity: study

TORONTO — Canada has the globe’s fifth largest artificial intelligence workforce, but… Continue reading

Air passenger rights: Six things about what the Liberals are offering in draft rules

OTTAWA — The Liberals will publish the draft text of their long-promised… Continue reading

Chabot scores overtime winner to lift Senators over Predators 4-3

OTTAWA — Thomas Chabot saw an opening and he took it. And… Continue reading

Canadian Marielle Thompson earns World Cup ski cross bronze in season opener

AROSA, Switzerland — Canada’s Marielle Thompson captured bronze at the opening World… Continue reading

Canada doesn’t make Oscars short list for best foreign language film

LOS ANGELES — Canada is no longer in the running for best… Continue reading

Warrant issued for arrest of ‘Schwimmer lookalike’ suspect

LONDON — A British judge has issued an arrest warrant for an… Continue reading

Moneywise: Canadian workers unhappy with pay, want pension plans

Many working Canadians are feeling underpaid and are so worried about their… Continue reading

Brazil police say faith healer has turned himself in

RIO DE JANEIRO — A celebrity faith healer accused of sexually abusing… Continue reading

B.C. hockey coach creates ‘gear library’ to remove cost barrier of sport

VANCOUVER — Nicola Froese says she has always loved playing sports, but… Continue reading

Canada’s Kim McRae finishes seventh at luge World Cup in Lake Placid, N.Y.

LAKE PLACID, N.Y. — Canada’s Kim McRae finished in seventh place at… Continue reading

Most Read