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U.S. markets recover from steep losses
NEW YORK, April 10 (UPI) -- New York financial firm Goldman Sachs Group Inc. may soon announce a multibillion shares sale to help repay a $10 billion government debt, sources said.
Executives said a decision to move forward with a sale will be based on market conditions, The Wall Street Journal reported Friday.
The firm is expected to announce strong first-quarter earnings Tuesday. Goldman Sachs' shares reached $124.33 a share Thursday, higher than they have been in five months.
Goldman Sachs accepted the government funding in October as part of a mandated round of aid to financial firms the Treasury Department used to kick-start its bailout efforts. Since then, views of the bailout have soured among financial firms concerned that the aid restricts executive bonus pay and makes them less competitive.
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