Goldman Sachs economists believe the chances of the economy entering a recession in the next two years is still low but the bank’s equity team have just released a recession manual for its clients on how to prepare for a downturn. “A recession is not inevitable, but clients constantly ask what to expect from equities in…
Goldman Sachs Releases Recession Manual to Prepare Clients for Downturn
Ex-Goldman Sachs CEO Warns Americans to Prepare for Economic Recession
Former Goldman Sachs CEO Lloyd Blankfein said that people should be prepared for an economic recession amid elevated inflation and record-high gas prices. When asked during a CBS News interview Sunday, former CEO Lloyd Blankfein said Americans should brace for a dim economic future. Blankfein was the head of the investment banking firm Goldman Sachs between…
Morgan Stanley’s Dealmakers Shine as Profit Beats Estimates
Morgan Stanley outperformed rival Goldman Sachs in M&A advisory and its traders fared better than expectations, helping the investment banking powerhouse beat first-quarter profit estimates by a wide margin. The bank’s dealmakers nearly doubled advisory revenue even as Russia’s invasion of Ukraine unsettled equity markets and forced companies to hold off on dealmaking and stock…
Goldman Pays 1.7 Billion Euros for Dutch-Based Asset Manager
LONDON—Goldman Sachs has acquired Netherlands-based asset manager NN Investment Partners for 1.7 billion euros ($1.9 billion) to expand its asset management footprint in Europe and increase its sustainable investment capabilities. NN Investment Partners, formerly part of NN Group, will be integrated into Goldman Sachs Asset Management (GSAM). The acquisition of the firm, which has more…
Malaysian Goldman Sachs Banker Found Guilty in 1MDB Corruption Scandal
A U.S. federal jury on Friday found a former Malaysian Goldman Sachs banker guilty of bribery and conspiracy to launder billions of dollars embezzled from Malaysia’s sovereign wealth fund 1MDB. Roger Ng, 49, was convicted of all three counts in the case, including conspiring to violate U.S. anti-bribery laws through bribery and circumvention of Goldman’s…
Malaysian Ex-Goldman Sachs Banker Found Guilty in 1MDB Corruption Scandal
A U.S. federal jury on April 8 found a former Malaysian Goldman Sachs banker guilty of bribery and conspiracy to launder billions of dollars embezzled from Malaysia’s sovereign wealth fund 1MDB. Roger Ng, 49, was convicted of all three counts in the case, including conspiring to violate U.S. anti-bribery laws through bribery and circumvention of…
Ex-Mckinsey Partner Sentenced To 2 Years For Insider Trading Scheme
April 7, 2022
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A former McKinsey & Co partner who assisted Goldman Sachs Group, Inc. on its recent purchase of a financial technology company has been sentenced to 24 months in prison for insider trading on the takeover. Puneet Dikshit, 41, was sentenced in federal court in Manhattan on Wednesday by U.S. District Judge Colleen McMahon. He had…
Goldman Sachs Downgrades Rating on Dell; Removes From Conviction List
Goldman Sachs analyst Rod Hall downgraded Dell Technologies Inc to Neutral from Buy with a price target of $61, down from $68 (21.5 percent upside). Hall also removed the shares from Goldman’s Americas Convictions List. Dell remains inexpensive compared to its peers. However, he sees increasing fundamental headwinds hindering this value unlock. The analyst notes that PC demand has…
Here’s How Goldman Sachs Views PayPal, Block
Goldman Sachs analyst Michael Ng has initiated coverage on fintech firms PayPal Holdings Inc. and Block Inc. with Buy ratings. Ng initiated coverage of PayPal with a $144 price target (19 percent upside). Ng also initiated Block with a $173 price target (20 percent upside). Ng saw PayPal’s return to profit growth of over 20 percent beyond this year, driven by product initiatives…
Ex-Goldman Banker’s Wife Testifies in Husband’s Defense at 1MDB Trial
March 30, 2022
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NEW YORK—The wife of former Goldman Sachs banker Roger Ng on Monday testified in her husband’s defense at a U.S. trial over the looting of hundreds of millions of dollars from Malaysia’s 1MDB sovereign wealth fund between 2009 and 2014. Ng, Goldman’s former chief for Malaysia, is charged with conspiring to launder money and violate…
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