Pimco Planning $1 Billion Fund to Buy Past-Due Debt

Pacific Investment Management Co., the manager of the world’s largest bond fund, plans to launch a fund worth at least $1 billion to buy distressed loans from banks.

The fund will buy up past-due debt including commercial and residential mortgage loan…

Goldman Sachs Promotes Hundreds of Employees

Goldman Sachs Group (GS) promoted a record number of employees to the position of managing director, giving them more money and prestige as the bank rebounds from the financial crisis.

The bank raised 321 people to the status of MD, up from 272 last …