Shares in Chinese banks plunged after Goldman Sachs downgraded some ratings due to high local government debt. According to a July 11 Bloomberg report, shares in China’s banking sector are on the cusp of historically low valuations. Bloomberg Intelligence’s index of Chinese bank stocks is down 14 percent from this year’s high in May, wiping…
Chinese Banks’ Ratings Downgraded as Local Governments Struggle With Debt
July 13, 2023
admin
bloombergChina Business & EconomyChina NewsGoldman Sachsguo junIndustrial and Commercial Bank of ChinaJP MorganWall Street
0 Comment
Goldman Sachs Cuts China Growth Forecast While Experts Predict Beijing’s Stimulus Measures Will Be Ineffective
June 20, 2023
admin
Asia & PacificBusiness & MarketsChina Business & EconomyChina NewsChinese economyChinese RegimeGoldman Sachsinterest cutsstimulus measuresWorld
0 Comment
Goldman Sachs has become the latest Wall Street bank to cut its growth forecast for China, as the world’s second-largest economy continues to lose momentum with persistently weak confidence. Experts believe the Chinese communist regime’s stimulus measures to remedy this won’t be effective due to macroeconomic issues. Goldman Sachs’s analysts lowered China’s 2023 gross domestic…
Apple Customers Say It’s Hard to Get Money Out of Goldman Sachs Savings Accounts
June 3, 2023
admin
anti-money launderingApple SavingsBusiness & MarketsCompanieseconomyGoldman SachsMedia & Big Techpersonal financeTechTech NewsUS
0 Comment
Some Apple customers have found it difficult to access their savings from a new account program in partnership with Goldman Sachs. After the new Apple savings account was launched in April to great fanfare, the system has been facing serious teething problems, according to customers. The annual yield on an Apple savings account offers a generous…
Goldman Sachs Under Federal Investigation for Role in Failed Silicon Valley Bank Fundraising Deal
May 5, 2023
admin
Business & MarketsCompaniescongresseconomic policieseconomyFDICGoldman SachsInvestmentJustice DepartmentMarketsPolicies & ImpactsPoliticsSecurities and Exchange CommissionSilicon Valley BankUS
0 Comment
The Goldman Sachs Group (GSG) is under federal investigation for its attempt to raise money for Silicon Valley Bank (SVB) before its collapse in March. The U.S. investment bank said it was cooperating and providing information to various government agencies in their investigation of SVB in a filing with the Securities and Exchange Commission on May…
US Firms Positioned to Withstand Tougher Lending Conditions, Says Goldman Sachs
April 21, 2023
admin
bank crisisBusiness & MarketsCompanieseconomic policieseconomyGoldman SachsinflationInvestmentlending sectorMarketsstocksUS
0 Comment
Goldman Sachs Group still believes that American companies are positioned to withstand tougher lending conditions caused by the latest bank crisis. The investment bank said that U.S.-based firms are less reliant on banks for capital, compared with their peers overseas, reported Bloomberg. A tightening of loan conditions could have a smaller impact for the banking…
Goldman Sachs Eyes Potential ‘Cannibalization’ From Apple’s New Savings Account
Goldman Sachs CEO David Solomon said he’s not concerned about Apple’s new savings account overshadowing his bank’s own Marcus savings accounts, though he’s watching closely for “cannibalization.” Solomon made the remarks in a recent earnings call, during which he was asked about Apple’s newly-announced savings account, which offers an annual percentage yield (APY) of 4.15 percent…
Goldman Sachs Profit Falls in 1st Quarter as Dealmaking Sputters
Goldman Sachs Group Inc.’s first-quarter profit fell 19 percent as sluggish dealmaking eroded the Wall Street giant’s fees from investment banking, while losses from the sale of some loans from its consumer unit, Marcus, weighed on the results. Goldman booked a $470 million loss on the sale as the bank rejigs its strategy after a…
Artificial Intelligence Could Automate Two-Thirds of All American Occupations: Goldman Sachs
Two-thirds of occupations across America could be partially automated by artificial intelligence (AI), Goldman Sachs economists have warned. In a report published on April 5, economists Joseph Briggs and Devesh Kodnani said that a new wave of AI systems, such as ChatGPT, could have a “major impact” on employment markets across the globe, while advances in such…
Goldman Sachs Cuts GDP Forecast, Warns of Economic Hit From Bank Rout
March 16, 2023
admin
bank failuresBusiness & MarketsCompanieseconomic policieseconomyGoldman SachsinflationInvestmentMarketsrecessionU.S. GDP forecastUSUS News
0 Comment
Goldman Sachs Group (GSG) slashed its U.S. GDP forecast and warned of an economic hit from recent bank failures. The investment bank raised its estimate of the odds of an American recession on March 15, to 35 percent over the next 12 months due to increased concern over the economic impact of stress in the…
Goldman Sachs Bought SVB’s Bond Portfolio That Led to Massive Losses and Bank Run
The parent of the failed Silicon Valley Bank (SVB), Silicon Valley Bank Financial Group, said that the Goldman Sachs Group (GSG) was responsible for buying SVB’s bond portfolio that booked $1.8 billion loss, setting off a calamitous bank run. SVB Financial said the transaction by Goldman Sachs set in motion SVB’s collapse, causing the bank…
US News
RSS Error: A feed could not be found at `https://www.theepochtimes.com/c-us/feed`; the status code is `200` and content-type is `text/html; charset=utf-8`