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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


Top Goldman Lawyers Accused of Covering Up Sexual Harassment

Goldman Sachs Group Inc.’s general counsel and head of litigation were sued by a subordinate who said she was forced out after she spoke...
Tags: Goldman Sachs Group Inc


Goldman to pay $3 billion, claw back executive pay over role in 1MDB corruption scandal

Goldman Sachs Group Inc on Thursday said it was clawing back $174 million in executive compensation and had agreed to pay $2.9 billion...
Tags: Goldman, Goldman Sachs Group Inc


Canada: Luxury Market Changes - Crowe MacKay LLP

Goldman Sachs Group Inc. is buying General Motors' credit card business for about $2.5 billion, the Wall Street Journal reported Thursday, citing people familiar with the matter.
Tags: News, General Motors, Canada, Wall Street Journal, Goldman Sachs Group Inc, Luxury Market Changes Crowe MacKay LLP


#SaudiArabia Oil Data, Price Forecast: Prices May Stay Around $50 Until 2023 - Bloomberg

Saudi Arabia Oil Data, Price Forecast: Prices May Stay Around $50 Until 2023 - Bloomberg:Saudi Arabia’s Finance Ministry sees oil prices at around $50 a barrel for the next three years, according to Goldman Sachs Group Inc.’s analysis of the kingdom’s pre-budget statement.“Using our own estimates for the breakdown of government revenues, we calculate that the numbers presented in the budget statement are based on an average oil price of around $50 a barrel between 2020 and 2023,” said Farouk Sou...
Tags: Travel, London, Saudi Arabia, Bloomberg, Donald Trump, Goldman Sachs Group Inc, Finance Ministry, Rupert Neil Bumfrey, Farouk Soussa, SaudiArabia Oil Data Price Forecast, Goldman Brent


Petitions of the week: A pair of cases on Trump and the emoluments clauses

This week we highlight two new cert petitions that ask the Supreme Court to decide whether business competitors of the Trump International Hotel have the right to sue the president under the Constitution’s emoluments clauses. Trump v. Citizens for Responsibility and Ethics in Washington and Trump v. District of Columbia involve challenges to President Donald Trump’s ownership interest through the Trump Organization in various properties and restaurants in New York and Washington, including the T...
Tags: New York, Featured, Maryland, Supreme Court, Law, Washington, United States, District Of Columbia, Donald Trump, Faa, Pitch, Sparks, Trump, Democratic, Goldman Sachs Group Inc, Levinson


Kamala Harris Has Wall Street and Silicon Valley’s Support

Joe Biden’s selection of a relatively moderate vice-presidential running mate seems to have been well received among the executive class.
Tags: News, Joe Biden, Silicon Valley, Kamala Harris, HARRIS, Goldman Sachs Group Inc, Solomon, David M, Presidential Election of 2020, Kamala D




Malaysia Open to Settling 1MDB Case Against #AbuDhabi State Fund - Bloomberg

Malaysia Open to Settling 1MDB Case Against Abu Dhabi State Fund - Bloomberg:Malaysia is open to settling its legal battle with Abu Dhabi’s state investment fund over 1MDB, just weeks after clinching a multibillion dollar deal with Goldman Sachs Group Inc. over the troubled state fund.The country is willing to consider a settlement if International Petroleum Investment Co. makes an offer that’s in line with Malaysia’s intent to retrieve assets and ensure justice is carried out, Attorney-General ...
Tags: Travel, London, Malaysia, Goldman Sachs, Abu Dhabi, Goldman Sachs Group Inc, Najib Razak, Rupert Neil Bumfrey, Ipic, International Petroleum Investment Co, AbuDhabi State Fund Bloomberg, Abu Dhabi State Fund Bloomberg, Idrus Harun


Najib Razak, Malaysia’s Former Prime Minister, Found Guilty in Graft Trial

The trial was the first of several related to the pilfering of billions from the 1MDB fund, a national scandal that led to the ouster of Mr. Najib’s party in 2018.
Tags: News, Malaysia, Money Laundering, Goldman Sachs Group Inc, Najib Razak, Najib, Najib Razak Malaysia, Politics And Government, Frauds and Swindling, Decisions and Verdicts, Corruption (Institutional, 1Malaysia Development Berhad (1MDB, United Malays National Organization


Goldman Sachs revamps employee reviews, opening door to greater job cuts

Goldman Sachs Group Inc is adopting a performance review system that will grade up to 10% of its 39,000 employees as under-performers this year, according to an internal memo sent on Monday, potentially leading to more job cuts in 2021 than the bank has made in recent years.
Tags: Finance, Article, Goldman Sachs, Reuters, Goldman Sachs Group Inc, FBN, Fbn/markets, 18c42cb1-3f56-55b2-92b9-f8fd545f886c


Goldman Sachs and Malaysia Agree to 1MDB Settlement

The deal settles charges against the Wall Street bank for its role in helping to raise hundreds of millions of dollars for a sovereign wealth fund that was used as a personal piggy bank.
Tags: News, Wall Street, United States, Malaysia, Goldman Sachs, Goldman Sachs Group Inc


Wells Fargo preparing for thousands of job cuts

By Hannah Levitt, Bloomberg Wells Fargo & Co., the largest employer among U.S. banks, is preparing to cut thousands of jobs starting later this year, potentially setting a bleak precedent for an industry that’s been resisting mass layoffs as the coronavirus pandemic worsens. Pressure to dramatically reduce costs is coming to a head inside the bank, prompting executives to draft plans that may ultimately eliminate tens of thousands of positions, people with knowledge of the confidential talks sai...
Tags: Business, New York, Jobs, Banks, San Francisco, Bank Of America, Sport, Atlantic, Soccer, Citigroup, Federal Reserve, PPP, Wells Fargo, Fed, Goldman Sachs Group Inc, Deutsche Bank AG


A Beverly Hills Hotel, Bought With Looted Money, Goes on Sale

The Viceroy L’Ermitage Beverly Hills was owned by a fugitive financier involved in a $2.5 billion fraud. Interested? It’ll cost north of $100 million.
Tags: News, Auctions, Beverly Hills Hotel, Justice Department, Fugitives, Goldman Sachs Group Inc, Banking and Financial Institutions, Bribery and Kickbacks, Frauds and Swindling, 1Malaysia Development Berhad (1MDB, Low Jho (1981-, L'Ermitage Beverly Hills




Goldman Sachs increases COVID-19 federal aid commitment by $250 million

Goldman Sachs Group Inc on Monday pledged an additional $250 million to fund the federal aid program to help businesses hurt by the COVID-19 pandemic.
Tags: Money, businessNews, Goldman Sachs, Goldman Sachs Group Inc, COVID


Goldman Sachs Is Said to Try to Avoid Pleading Guilty in 1MDB Scandal

The bank has asked the U.S. to review demands that any settlement include a guilty plea to a felony charge, according to people briefed on the matter.
Tags: News, Justice Department, Money Laundering, Tim, Goldman Sachs Group Inc, Banking and Financial Institutions, United States Politics and Government, Leissner, Corruption (Institutional, Fines (Penalties, 1Malaysia Development Berhad (1MDB, Low Jho (1981-, Goldman Sachs Is Said


Goldman Sachs employees to start returning to U.S. offices from June 22

Goldman Sachs Group Inc said on Wednesday it plans to start the return of an initial group of its employees to its offices in New York, Jersey City, Dallas and Salt Lake City from June 22.
Tags: Money, businessNews, Goldman Sachs, Salt Lake City, Goldman Sachs Group Inc, New York Jersey City Dallas


Goldman Sachs forms fund to address racial injustice

Goldman Sachs Group Inc said on Wednesday it had launched a $10 million fund to support the work of organizations addressing racial injustice, structural inequity and economic disparity.
Tags: Money, businessNews, Goldman Sachs, Goldman Sachs Group Inc


Goldman traders gain $1 billion in commodities revenue after oil slump

Goldman Sachs Group Inc commodities unit generated more than $1 billion in revenue this year through May as traders positioned their bets for the collapse in oil prices, a source familiar with the group's finances said on Wednesday.
Tags: Money, businessNews, Goldman, Goldman Sachs Group Inc


Boxed Lunches and Plexiglass Will Welcome Back Wall Street’s Workers

The finance industry will return to its offices this month, but the landscape is likely to be altered for many months to come.
Tags: News, Citigroup Inc, Goldman Sachs Group Inc, Bank of America Corporation, Banking and Financial Institutions, Shutdowns (Institutional, Bathrooms and Toilets, Neuberger Berman LLC, Coronavirus (2019-nCoV, Coronavirus Reopenings


Goldman Sachs executive's email making plea for racial equality goes viral at firm

An email by a Goldman Sachs Group Inc employee about his experiences of racial injustice and criticizing managers at the Wall Street bank for not supporting junior bankers from diverse backgrounds went viral at the firm this week.
Tags: Money, Wall Street, businessNews, Goldman Sachs, Goldman Sachs Group Inc


Goldman Sachs president says bank on track to meet growth goals

Goldman Sachs Group Inc President and Chief Operating Officer John Waldron said Wednesday that the bank remains on track to achieve its medium and long term growth targets despite the economic shocks caused by the novel coronavirus.
Tags: Money, businessNews, Goldman Sachs, Goldman Sachs Group Inc, John Waldron


Goldman Sachs Forecloses on 10,000 Homes for ‘Consumer Relief’

A federal settlement over the 2008 financial crisis required the bank to offer homeowners $1.8 billion in relief. In the process, it became a big buyer of distressed mortgages.
Tags: News, Mortgages, Goldman Sachs Group Inc, Banking and Financial Institutions, Subprime Mortgage Crisis, Foreclosures, Real Estate and Housing (Residential, Federal National Mortgage Assn (Fannie Mae, Federal Home Loan Mortgage Corp (Freddie Mac, MTGLQ Investors LP, Goldman Sachs Forecloses


Goldman pushes ahead with 1,460 India hires, internships

Goldman Sachs Group Inc will honor job and internship offers to 1,460 Indian graduates and students this summer, the equivalent of a quarter of its workforce in the country, forging ahead with expansion plans despite uncertainties due to the COVID-19 pandemic.
Tags: Money, India, businessNews, Goldman, Goldman Sachs Group Inc


Goldman Sachs to buy boutique wealth management custodian Folio

Goldman Sachs Group Inc plans to buy the boutique wealth management custodian and technology firm Folio Financial Inc, according to a letter Folio sent to customers on Thursday that was viewed by Reuters.
Tags: Money, businessNews, Goldman Sachs, Goldman Sachs Group Inc, Folio, Folio Financial Inc


Some Goldman Sachs borrowers see FICO scores fall as coronavirus hits economy

A greater portion of borrowers in Goldman Sachs Group Inc's consumer business had less-than-stellar credit scores in the first quarter, indicating that the bank's rapid expansion into Main Street lending may be hitting a bump in the road.
Tags: Money, businessNews, Goldman Sachs, Fico, Goldman Sachs Group Inc


Goldman Sachs CEO says staff back at offices in Asia, but not New York, London

Goldman Sachs Group Inc is gradually returning staff to work at offices in Hong Kong, Sweden and Israel, but will take longer to start the phased-in approach in cities still battling large coronavirus outbreaks like London and New York, the chief executive told staff on Tuesday in a memo seen by Reuters.
Tags: Asia, New York, London, Money, Israel, businessNews, New York London, Goldman Sachs Group Inc, Goldman Sachs CEO, Hong Kong Sweden


Goldman Says #Saudi Fiscal Adjustment Preferable to a Devaluation - Bloomberg

Goldman Says Saudi Fiscal Adjustment Preferable to a Devaluation - Bloomberg:A currency devaluation would be too costly for Saudi Arabia and the better option is to adapt to the oil shock through fiscal changes, according to Goldman Sachs Group Inc.“Unlike a devaluation, fiscal policy can shift the burden of adjustment on those more capable of bearing it through, for example, taxes on luxury goods,” Farouk Soussa, a Goldman Sachs economist, said in a report. “This is not to say there would be no...
Tags: Travel, Saudi Arabia, Goldman Sachs, Goldman Sachs Group Inc, Rupert Neil Bumfrey, Farouk Soussa, Goldman Says Saudi Fiscal Adjustment Preferable, Devaluation Bloomberg, U S Federal Reserve While Goldman


Goldman Sachs shareholders back executive pay packages

Goldman Sachs Group Inc said on Thursday that 71% of shareholders voted to approve the bank's executive pay packages, according to preliminary tallies.
Tags: Money, businessNews, Goldman Sachs, Goldman Sachs Group Inc