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Goldman Sachs has been employing drones to get a close peek at potential bids before sealing billion-dollar deals during the pandemic

Sebastian Kahnert/picture alliance via Getty Images Goldman Sachs has been using drones to help secure billion-dollar deals during the pandemic.The shift to remote work forced investment bankers to conduct virtual tours of potential acquisition targets for their clients, the bank's co-head of mergers told CNBC."It gives buyers the confidence they need because when you are buying a business, you want to see, touch and feel what you are buying," he said.Over 95% of Goldman's deal transaction...
Tags: Microsoft, US, Trends, Cisco, Tesla, Goldman Sachs, Morgan Stanley, Goldman, ESG, Lazard, Cnbc, JPMorgan Goldman, COVID, Shalini Nagarajan, Getty Images Goldman Sachs, Sebastian Kahnert


Coronavirus cleaning: Is wiping down groceries still a thing?

By CANDICE CHOI | Associated Press NEW YORK — Cleaning wipes are harder to find on store shelves, and businesses are reassuring customers with stepped up sanitation measures. In New York, the subway system is shut down nightly for disinfecting. To avoid any traces of the coronavirus that might be lurking on surfaces, Americans have been wiping down groceries, wearing surgical gloves when they go out and leaving mail packages out for an extra day or two. But experts say the national fixation on s...
Tags: New York, News, US, Los Angeles, Sport, Joe Biden, Soccer, Mta, Athens, Goldman, John Brooks, Oklahoma City, Morse, Clorox Co, Dowd, Jae


Goldman questions the future and purpose of OPEC+ ahead of a critical meeting

OPEC+ is scheduled to meet on Nov. 30 and Dec. 1 to discuss the next phase of its oil production policy.
Tags: Opec, Goldman


Goldman voices concerns about OPEC+ future as decision on output curbs nears | Reuters

Goldman voices concerns about OPEC+ future as decision on output curbs nears | Reuters As the OPEC+ group’s decision on oil production cuts nears, there are renewed concerns about the future of the organization as it tries to rebalance the market while securing higher revenue and market share in the medium-term, Goldman Sachs said in a note.OPEC+, comprising the Organization of the Petroleum Exporting Countries, Russia and other producers, is scheduled to meet on Nov. 30 and Dec. 1, and is likel...
Tags: Travel, Russia, Opec, Libya, Goldman Sachs, Goldman, Uae, Reuters, Rupert Neil Bumfrey


Goldman Sachs slashes US growth forecasts as spiking coronavirus cases drive economic slowdown

AP Photo/Sue Ogrocki Spiking COVID-19 cases and slowing economic activity have led Goldman Sachs to cut its near-term growth forecasts. US gross domestic product will grow 3.5% in the fourth quarter, down from the previous forecast of 4.5%, said economists led by Jan Hatzius. The bank's first-quarter 2021 growth estimate was also lowered to 1% from 3.5%. Still, the winter drag should give way to a bigger rebound on the back of vaccine distribution, the bank said. Forecasted second-quarter...
Tags: US, Trends, Astrazeneca, Goldman Sachs, Pfizer, University of Oxford, Federal Reserve, Goldman, FOMC, Fed, Moderna, Jan Hatzius, COVID, Ben Winck


Moderna's CEO sold nearly $2 million of his stock ahead of the company's emergency use vaccine filing. He's now worth $3 billion.

Moderna CEO, Stephane Bancel. Andrew Dunn/Business Insider Moderna CEO Stephane Bancel sold almost $2 million in shares ahead of the company's emergency use authorization filing for its COVID-19 vaccine.Bancel sold a total of 19,000 shares between November 18-19 as part of a predetermined trading plan amended May 21, according to a filing with the SEC.Moderna is the second major drug company to announce success in a late-stage COVID-19 vaccine trial. It expects to file for FDA approval by t...
Tags: Trends, Markets, Billionaires, SEC, Stocks, Fda, Pfizer, Goldman, Pharmaceutical, Pharma Company, Moderna, Healthcare Stocks, Stéphane Bancel, Albert Bourla, Coronavirus, Bancel


PayPal and Square's Cash App have scooped up 100% of newly mined bitcoins, report says

Smith Collection/Gado/Getty Images PayPal and Square's Cash App have scored 100% of the new supply of bitcoins, according to the crypto hedge fund Pantera Capital.A chief reason for Bitcoin's rally is the ease of investing via PayPal, Cash App, and Robinhood, the firm said.PayPal has already bought 70% of newly issued bitcoin, while Square is estimated to be buying about 40%.Visit Business Insider's homepage for more stories.PayPal and Jack Dorsey's Cash App have bought 100% of newly mined...
Tags: US, Trends, Markets, Paypal, Bitcoin, Square, Jack Dorsey, Cryptocurrencies, Goldman, Robinhood, Pantera Capital, Pantera, Bitcoin Miners, Bitcoin mining, Square app, Cash App


Tesla has 104% upside potential in bull-case scenario as global demand for EVs hits tipping point, Wedbush says

Johannes Eisele/AFP via Getty Images Tesla's inclusion in the S&P 500 and its "sustained path to profitability" means the bull story is now all about an acceleration in demand for electric vehicles, according to a note from Wedbush.As global demand for EVs hits a tipping point, Tesla could surge 104% in a bull-case scenario to $1,000, Wedbush said in the note."New designs around Cybertruck and Model Y will further aid growth globally and thus enable Tesla to achieve its million delivery un...
Tags: California, Finance, China, Trends, Markets, Tesla, Joe Biden, Electric Vehicles, Trading, Stocks, Biden, Stock Market, EVs, Goldman, Wedbush, Matthew Fox


Dow gains 210 points as AstraZeneca results boost COVID-19 vaccine optimism

Sergei Bobylev\TASS via Getty Images US stocks rose on Monday after AstraZeneca said its COVID-19 vaccine candidate demonstrated an average efficacy rate of 70%.This marks the third COVID-19 vaccine that surpassed the FDA's stated threshold requirement of 50% effectiveness.Watch major indexes update live here.US stocks gained on Monday as investor optimism surrounding the development of successful COVID-19 vaccine candidates remained elevated.AstraZeneca said on Monday that its COVID-19 va...
Tags: US, Trends, Astrazeneca, Goldman Sachs, Fda, Pfizer, University of Oxford, Goldman, Dow Jones, TASS, Matthew Fox, Sergei Bobylev, Getty Images Us


Veteran investor Jeremy Grantham discussed the dot-com bubble, green investing, and America's poor handling of the pandemic in a recent interview. Here are the 10 best quotes

Morningstar / YouTube British investor Jeremy Grantham reflected on the dot-com bubble, trumpeted green investments, and criticized Americans' response to the pandemic in a RealVision interview released on Monday.The chief investment strategist of asset-manager GMO also praised Pfizer's partner BioNTech and Moderna for developing extremely effective COVID-19 vaccines in record time.Scroll down to read his 10 best quotes from the interview.Visit Business Insider's homepage for more stori...
Tags: Congress, US, America, Trends, Gmo, Warren Buffett, Pfizer, Goldman, Grantham, Morningstar, Alan Greenspan, Jeremy Grantham, Grantham Mayo van Otterloo, Moderna, BioNtech, General Electrics


10 things you need to know before the opening bell

Reuters Welcome to 10 Things Before the Opening Bell. Sign up here to get this email in your inbox every morning.For the biggest stories in politics, sign up here for 10 Things in Politics You Need to Know Today - launching soon!Here's what you need to know before markets open.1. Global stocks rise as the US plans first COVID-19 vaccinations by mid-December. Here's what's happening on the markets.2. UK drugmaker AstraZeneca sees its shares slide. The company said its COVID-19 vaccine candi...
Tags: UK, Global, US, America, Trends, Markets, Chicago, Treasury, Astrazeneca, Warren Buffett, Goldman Sachs, Biden, Goldman, Paul Krugman, Fed, Urban Outfitters


Ethereum and Ripple are exploding higher thanks to the growing interest in cryptocurrencies that lifted Bitcoin above $18,000

Yuriko Nakao/Getty Images Ethereum and Ripple are soaring, echoing the powerful rally in Bitcoin, as mass interest in cryptocurrencies picks up steam.Ethereum has jumped almost four-fold this year to just below $600, although this is still short of its record $1,500 in January 2018.The price of smaller crypto rival Ripple has hit its highest since mid-2019, having doubled in value in this month alone.This growing interest raises red flags, because many people are pouring in money into cryp...
Tags: Trends, Markets, Bitcoin, Meyer, Cryptocurrencies, Goldman, Ethereum, Business Insider, Bitcoin Ethereum, Ripple, Grayscale Investments, Bernard Meyer, Michael Sonnenshein, Markets And Economy, Crypto Assets, Cybernews


AstraZeneca slides after announcing its COVID-19 vaccine candidate is 70% effective

AP Photo/Ted S. Warren Shares in AstraZeneca slid 2% on Monday after the company released results that showed its COVID-19 vaccine is just 70% effective, compared with rates of above 90% for those of its two biggest rivals.The Oxford/AstraZeneca vaccine is cheaper to produce and easier to transport than those of US peers Pfizer and Moderna, but is clearly less effective than the other two.AstraZeneca said its vaccine can be stored in normal refrigerated conditions.Visit Business Insider's ...
Tags: Europe, UK, US, Trends, Brazil, Astrazeneca, Pfizer, Oxford University, Goldman, Moderna, Oxford AstraZeneca, Shalini Nagarajan, Pfizer Pfizer, AP Photo Ted S Warren Shares


Warren Buffett discussed the Fed's pandemic response, small businesses, and his ukelele collection at a recent Goldman Sachs event. Here are the 10 best quotes

AP Images Warren Buffett discussed the federal response to the pandemic, the challenges facing small businesses, his unwavering faith in America, and his ukelele collection at a private event last week.The famed investor and Berkshire Hathaway CEO spoke at a virtual Goldman Sachs 10,000 Small Businesses event to celebrate the graduation of 10,000 entrepreneurs from the program, and guide alumni on how to navigate the pandemic.A closer look at Buffett's comments can be found here.Visit B...
Tags: US, America, Trends, Small Businesses, Berkshire Hathaway, Warren Buffett, Goldman Sachs, Federal Reserve, Goldman, Buffett, Fed, Berkshire CEO, Theron Mohamed, AP Images Warren


Global stocks rise as the US plans first COVID-19 vaccinations by mid-December

Thomson Reuters Global stocks rose on Monday as the head of the White House's Operation Warp Speed said some Americans would be able to receive coronavirus vaccinations by mid-December.Investors are betting that positive developments in trials of COVID-19 vaccines might mean swift regulatory approval and a quick rollout.The greatest potential is in the sectors with scope to "catch up" as the vaccine rollout and policy support facilitate economic recovery, said UBS' Mark Haefele.AstraZeneca...
Tags: Hong Kong, Japan, London, White House, China, Germany, Global, US, Trends, Fda, Pfizer, Goldman, Shanghai Composite, Mark Haefele, Moderna, Steve Mnuchin


Nobel-winning economist Paul Krugman says Biden won't engage in Trump-style boasting — and his team will be unlike the 'quacks and hacks' in the incumbent administration

Paul Krugman. BI Nobel laureate Paul Krugman said President-elect Joe Biden won't engage in Trump-style boasting and his team won't be like the "quacks and hacks" that populate the incumbent administration.He expects US growth to boom next year, once a COVID-19 vaccine is widely distributed, but warned Biden shouldn't become complacent about good news on the economic front."So even if I'm right about the prospects for a Biden boom, the political benefits of that boom shouldn't be cause for ...
Tags: Washington, US, America, Trends, Joe Biden, Gop, New York Times, Biden, Goldman, Paul Krugman, Trump, Krugman, Shalini Nagarajan


The Book Queue

It’s been a while since I put together a list of things to read from the book queue, so it doesn’t really matter if I do so now, but I’m going to do it anyway. You’re welcome. We’ve got some interesting non-fiction on the list, a holiday offering, some candidates for Vintage SF Month, and the usual smattering of nerdy literature. Which Lie Did I Tell?: More Adventures in the Screen Trade by William Goldman – I loved Goldman’s first Adventures in the Screen Trade, so I’m guessing I’ll like thi...
Tags: Movies, Lodi, Lincoln, Sturgeon, Goldman, Neal Stephenson, Stephenson, John Scalzi, William Goldman, Scalzi, Lois McMaster Bujold, Galland, Penric Desdemona, Nicole Galland, Book Queue, Vintage SF Month


Bitcoin is 'here to stay' thanks to huge demand from millennials, BlackRock's Rick Rieder says

Steve Marcus/Reuters Bitcoin is "is here to stay," BlackRock's chief investment officer of fixed income Rick Rieder told CNBC on Friday.Rieder pointed to millenials openness to cryptocurrencies and digital payments as one reason why the popular crypto currency isn't going anywhere.While Rieder said he doesn't own bitcoin in his own portfolio, he does see potential for bitcoin to "take the place of gold to a large extent," according to the interview.Visit Business Insider's homepage for mor...
Tags: Finance, Trends, Markets, Bitcoin, Crypto, Trading, Cryptocurrencies, Goldman, Cnbc, Cryptocurrency, Blackrock, Rieder, Jpmorgan, Ray Dalio, Rick Rieder, Crypto Currency


SoulCycle's top instructors had sex with clients, 'fat-shamed' coworkers, and used homophobic and racist language, insiders say

Hello everyone! Welcome to this weekly roundup of Business Insider stories from co-Editor in Chief Matt Turner. Subscribe here to get this newsletter in your inbox every Sunday.Read on for more on SoulCycle's top instructors mistreating staff, Moderna's research revolution, and Google CEO Sundar Pichai's leadership shift. Bryan R. Smith/Getty; BFA; Olivia Atherton; Skye Gould/Business Insider Hello!We now have two promising coronavirus vaccines, with Moderna's promising results this week...
Tags: Google, Amazon, Hollywood, California, France, China, Trends, Nike, Palo Alto, Larry Page, Atlantic, Sergey Brin, Retail, Silicon Valley, Graham, Pfizer


Goldman Says #Saudi Peg ‘Here to Stay,’ Though at Cost to Economy - Bloomberg

Goldman Says Saudi Peg ‘Here to Stay,’ Though at Cost to Economy - Bloomberg Saudi Arabia is sacrificing non-oil economic growth with fiscal policies designed to ensure its currency peg’s stability during a period of low crude prices, according to Goldman Sachs Group Inc.“Maintaining the riyal peg at current levels remains a key policy priority for the Saudi authorities,” Farouk Soussa, a London-based analyst at Goldman, said in a report to clients. “In a low oil price environment, however, this...
Tags: Travel, London, Saudi Arabia, Goldman, Goldman Sachs Group Inc, Rupert Neil Bumfrey, Economy Bloomberg, Soussa, Farouk Soussa, Goldman Says Saudi Peg ` Here, Economy Bloomberg Saudi Arabia, U S Federal Reserve Although


A top Goldman dealmaker is jumping ship — Affirm gears up for an IPO — Hedge fund pay

  Happy Saturday!Bankers have been plenty busy as they work on big tie-ups and look to get IPOs across the line before the end of the year.Here's a recap of some of the big news this week:PNC announced its planned purchase of BBVA US, the US-based arm of the Spanish lending giant BBVA, for $11.6 billion. Reed Alexander talked with insiders to learn more about how one of the biggest bank deals since the financial crisis came together. You can read the full story here. The buy now, pay later lende...
Tags: Google, Europe, Microsoft, US, Trends, Paypal, Getty Images, Michael Dell, Goldman Sachs, Seattle, Morgan Stanley, Max Levchin, Goldman, Fintech, ADP, Bbva


Tesla's S&P 500 entry could spark a $8 billion buying spree, Goldman Sachs says

Elon Musk. Xinhua via Getty Images Large-cap mutual funds are on the verge of fueling a massive rally for Tesla shares, Goldman Sachs said Thursday.The automaker is set to join the S&P 500 on December 21 as one of its 10 most valuable members.Of the 189 large-cap core funds tracked by Goldman, 157 funds managing roughly $500 billion don't yet hold Tesla stock, the bank said.If the funds aim to hold Tesla at benchmark weight when it joins the index, they will buy about $8 billion worth of sh...
Tags: US, Trends, Markets, Tesla, Treasury, TSLA, Goldman Sachs, Morgan Stanley, Goldman, S&P 500, Fed, Mutual Funds, Index Committee, CBOE, Rob Arnott, Tesla Stock


Dividend yield is a key way to evaluate a company and the regular payouts from its stock

Calculating a stock's dividend yield is simple, and provides a way to accurately compare dividends from different stocks. Witthaya Prasongsin/Getty Images A dividend yield is a ratio — expressed as a percentage — that shows how much a company pays its shareholders in dividends relative to its share price. Dividend yield can help investors evaluate the potential profit for every dollar they invest, and judge the risks of investing in a particular company. A good dividend yield varies de...
Tags: Trends, Markets, Healthcare, Dividends, VZ, Pg, Goldman, Freelance, Bernstein, Proctor, Hasi, Dividend Yield, NNN, Chevron CVX, Pfizer PFE, CVX


Goldman Sachs says commodities poised for bull market | Reuters

Goldman Sachs says commodities poised for bull market | Reuters Goldman Sachs on Wednesday maintained its ‘overweight’ recommendations for commodities in 2021, reasoning the sector was possibly the best hedge against likely inflation and poised for another bull market.The bank forecast a return of about 27% over a 12-month period on the S&P/Goldman Sachs Commodity Index (GSCI), with a 19.2% return for precious metals, 40.1% for energy, 3% for industrial metals and a negative 1% return on agricul...
Tags: Travel, Europe, China, United States, Goldman Sachs, Goldman, Reuters, Reuters Goldman Sachs, Rupert Neil Bumfrey, Goldman Sachs Commodity Index GSCI


Robinhood interviews IPO bankers — Goldman analysts pitch top execs — The asset manager of the future

Rafael Henrique/SOPA Images/LightRocket via Getty Images It's been a busy November on the IPO prep front, with DoorDash flipping its S-1 last week and Airbnb unveiling its financials on Monday. Now Robinhood is looking to hire bankers to gear up for an IPO that could happen as soon as the first quarter of 2021, Bloomberg reported on Tuesday.The zero-commission stock trading app has played a part in upending the traditional discount brokerage model. And it's soared in popularity during the ...
Tags: Hbo, Hollywood, Ipo, New York City, Trends, Bloomberg, Manhattan, Airbnb, Goldman Sachs, Goldman, Bain Capital, Business Insider, Invesco, Carlyle Group, Oliver Wyman, BlackRock Pimco


Bitcoin explodes above $18,000, taking its market capitalization to an all-time high — and it's even exciting Hollywood

REUTERS/Baz Ratner Bitcoin rose above $18,000 on Wednesday, to its highest in three years, and its market capitalization has hit an all-time record of $336 billion.The price has closed above $17,000 on only five other days in history, Deutsche Bank analysts said.Frenzy over its price caught the attention of Hollywood celebrity Maisie Williams, who ran a Twitter poll Tuesday on whether she should buy Bitcoin.Events triggering Bitcoin's price surge include improvement in mainstream acceptanc...
Tags: Twitter, Hollywood, Finance, Trends, Markets, Joe Biden, Paypal, Bitcoin, Crypto, Deutsche Bank, Biden, Goldman, Maisie Williams, Btc, Cryptocurrency, Jpmorgan


Warren Buffett is buying a secret stock that could be revealed within weeks

Getty Images / Bill Pugliano Warren Buffett has a secret stock in his portfolio.The billionaire investor's Berkshire Hathaway conglomerate omitted "confidential information" in its quarterly portfolio update on Monday, instead filing it separately with financial regulators."He is undoubtedly building a large position now," said David Kass, a finance professor at the University of Maryland and a close follower of Buffett and his company. "I suspect that Berkshire is building a large posi...
Tags: Trends, Getty Images, Barclays, Berkshire Hathaway, Warren Buffett, Ibm, Goldman, University Of Maryland, Berkshire, Buffett, Phillips, Edward Jones, Kass, US Securities and Exchange Commission, David Kass, Berkshire Buffett


Legendary investor Howard Marks warns against chasing the vaccine rally as opportunities to buy distressed assets are drying up

CNBC TV Howard Marks warned against chasing the market's vaccine rally as he sees fewer opportunities to buy distressed assets."The main way to achieve high returns in a low-return world is through taking increased risk. And I don't think this is the climate to take more risk," the billionaire investor told Bloomberg on Tuesday.The amount of distressed debt in the US, which hit $1 trillion during the height of COVID-19, has fallen back to about $236 billion this month, which means there ar...
Tags: US, Trends, Bloomberg, Pfizer, Goldman, Jpmorgan, Marks, Oaktree, Howard Marks, Oaktree Capital Group, COVID, Shalini Nagarajan, CNBC TV Howard Marks, Moderna US Treasury


Warren Buffett appears to be buying a secret stock that could be revealed within weeks

Getty Images / Bill Pugliano Warren Buffett appears to have a secret stock in his portfolio.The billionaire investor's Berkshire Hathaway conglomerate omitted "confidential information" in its quarterly portfolio update on Monday, instead filing it separately with financial regulators."He is undoubtedly building a large position now," said David Kass, a finance professor at the University of Maryland and a close follower of Buffett and his company. "I suspect that Berkshire is building ...
Tags: Trends, Getty Images, Barclays, Berkshire Hathaway, Warren Buffett, Goldman, University Of Maryland, Berkshire, Buffett, Phillips, Edward Jones, Kass, US Securities and Exchange Commission, David Kass, Theron Mohamed, Berkshire Visit Business Insider


Goldman Sachs is planning its second round of layoffs in less than 3 months, after initially saying job cuts would resume in 2021

A person familiar with Goldman's plans told Business Insider the bank will make hundreds of cuts. Ramin Talaie/Corbis/Getty Images Goldman Sachs is planning to lay off hundreds of employees — less than 1% of its workforce — Bloomberg reported on Tuesday and Business Insider confirmed. The cuts will be spread across different divisions and office locations and aren't particularly concentrated within specific teams, a person familiar with the bank's plans told Business Insider. Goldman i...
Tags: Trends, Bloomberg, Dallas, Goldman Sachs, Salt Lake City, Goldman, Business Insider, Wells Fargo, Bloomberg TV, David Solomon, Goldman Sachs CFO, Tyler Sonnemaker, Ramin Talaie Corbis Getty Images Goldman Sachs, Goldman Wells Fargo JPMorgan, Business Insider Goldman, HSBC JPMorgan Chase Deutsche Bank