On Air Now

Upcoming Shows

Program Schedule »

Listen

Listen Live Now » 590 AM Kalamazoo, MI

Weather

Current Conditions(Kalamazoo,MI 49001)

More Weather »
50° Feels Like: 50°
Wind: WSW 0 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Tonight

Clear 45°

Tomorrow

Sunny 73°

Wed Night

Mostly Clear 48°

Alerts

Goldman Sachs rebuts criticism of metals warehousing unit

A Goldman Sachs sign is seen on at the company's post on the floor of the New York Stock Exchange, January 18, 2012. REUTERS/Brendan McDermi
A Goldman Sachs sign is seen on at the company's post on the floor of the New York Stock Exchange, January 18, 2012. REUTERS/Brendan McDermi

NEW YORK (Reuters) - Goldman Sachs Group Inc has issued its first public rebuttal of mounting criticism of its metals warehousing unit, denying that Metro International Trade Services has deliberately caused aluminum shortages and inflated prices.

In a statement on Tuesday, the bank said Metro denied that its metals warehousing unit has moved aluminum from warehouse to warehouse in order to earn more rent.

(Link to Goldman statement: http://link.reuters.com/hec89t)

(Reporting by Josephine Mason; Editing by Gerald E. McCormick)

Comments