Page 14 - Goldman Sachs

Investment bank Goldman Sachs to partially retreat from consumer banking

Goldman Sachs no longer wants to be the bank for everyone. The storied investment bank spent eight years attempting to expand its business beyond corporations and the wealthy. But in recent months, Goldman has signalled a partial retreat from those efforts by scrapping plans for a checking account broadly available to the public and mothballing its personal loan business. A popular savings account and a credit card business survive for now. Last week, the bank disclosed that it had accumulated USD 3 billion in losses in its consumer banking franchise since 2020, mostly money set aside to cover potential loan losses in its Marcus personal loan business. Bank regulators are reportedly looking into whether the consumer business had proper safeguards in place as it grew larger. The retreat in consumer banking comes as Goldman tries to refocus on its roots: advising corporations on deals, investing, and trading, and servicing the well-to-do. The firm's revenue from investment banking, .

In layoff season, social networks are stepping up to help ease the anxiety

Support and empathy on sites such as LinkedIn and a market that is still hiring are softening the blow

Goldman Sachs sees 69% drop in Q4 net profit on dealmaking slump

It also reported a pre-tax loss of $778 million in its platform solutions unit

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Amazon, Goldman Sachs employees flood social media with layoff news

Professional networking platforms, such as LinkedIn and Grapevine, were full of stories of layoffs

Modi govt's final full budget to focus on subsidy cuts, 'Make in India'

With India running one of the highest public debt to GDP ratios among emerging markets globally, firm adherence to the fiscal consolidation would seem the most appropriate path

Fiscal deficit in FY24 may be capped at 5.9%, says Goldman Sachs

The upcoming pre-election Budget will carry forward the trend of the increased capital expenditure seen in recent years

Govt likely to consolidate fiscal deficit to 5.9% of GDP in FY24: Goldman

The government aims to shrink the gap to below 4.5% of GDP by 2025-26

Goldman Sachs to cut about 3,200 jobs this week after cost review

The cuts also come a week before the bank's traditional year-end compensation discussions

Goldman Sachs to unveil fresh job cuts in a matter of weeks, says CEO

Top managers have been asked to identify potential cost-reduction targets, and no final job-cut number has been determined

Goldman Sachs plans to lay off hundreds of employees: Report

Global investment bank Goldman Sachs is reportedly planning to lay off hundreds of employees at its consumer business

Centre to sell up to 5% stake in IRCTC via OFS to garner Rs 2,720 crore

Floor price fixed at Rs 680/share, an over 7% discount to Wednesday closing price

What to expect from Indian equity markets in 2023 as performance cools

While India has been a standout market this year, with the NSE Nifty 50 Index up above 7%, compared to an 18% slump in global stocks, it remains the most expensive in Asia

Investors want more of India as it improves infra: Goldman Sach's Sengupta

India has consistently attracted annual foreign direct investments of $50 billion to $55 billion, even in the pandemic, Sengupta said

Citi expects growth to slow below 2% in 2023 amid challenges from Covid

Citigroup on Wednesday forecast global growth to slow to below 2% next year, echoing similar projections by major financial institutions such as Goldman Sachs, Barclays, and J.P. Morgan

Slower annual economic growth will be good for India, for now: Economists

India's annual economic growth is forecast to slow to about 6% for a few years, according to economists from Goldman Sachs Group Inc. and Barclays Plc.. And they say that's not such a bad thing

Nifty to reach 20,500 by end-2023, implying 12% price return: Goldman Sachs

Says India's 'superior' earnings growth appears to be priced in, sees 'modest' contraction in P/E multiples going ahead; stay overweight on banks, insurers, and investment cyclicals

Nifty to reach 20,500 by end-2023, implying 12% price return: Goldman Sachs

Says India's 'superior' earnings growth appears to be priced in, sees 'modest' contraction in P/E multiples going ahead; stay overweight on banks, insurers, and investment cyclicals

China's Covid policy will hinder property recovery: Goldman Sachs

On the Covid policy, Goldman expects China to reopen the country -- which it defines as a period when authorities no longer lock down cities when cases surge -- in the first half of 2023

Bear market to continue into 2023, say Goldman Sachs strategists

Goldman's strategists said the gains aren't sustainable, because stocks don't typically recover from troughs until the rate of deterioration in economic and earnings growth slows down