Goldman Sachs has brought forward its forecast by a year to July 2022 for the first post-pandemic U.S. interest rate hike, with the investment bank predicting that persistently high inflation will force the Fed to roll back stimulus more aggressively. “The main reason for the change in our liftoff call is that we now expect…
Goldman Sachs Predicts Fed Will Raise Rates Faster Due to Persistent Inflation
Shipping Problems to Persist Through 2022 Amid Supply Chain Crisis: Economists
October 26, 2021
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Economists expect shipping problems at large ports in the United States as well as the subsequent shortage in goods and price increases to persist into the middle of 2022 amid the ongoing supply chain crisis. Roughly 77 ships are currently waiting outside docks in the Ports of Los Angeles and Long Beach, California, carrying a…
Goldman Sachs Moves to Full Ownership of China Securities JV
October 18, 2021
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Goldman Sachs said on Sunday it received approval from China’s securities regulator to take full control of its mainland securities business. The U.S. bank said it would buy the remainder of Goldman Sachs Gao Hua Securities Company Ltd. (GSGH), and rename it as Goldman Sachs (China) Securities Company Ltd. The migration of its onshore business…
Seminal ‘Diversity = Profits’ Research Doesn’t Fare Well Under the Microscope
October 17, 2021
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At last year’s World Economic Forum in Davos, Switzerland, the head of Goldman Sachs announced a new policy for the richest investment bank in the world: It would refuse to underwrite the stock offerings of any private company that did not have at least one woman on its board of directors—and that the minimum would…
Goldman Sachs Thrives on Global Dealmaking Frenzy to Post Bumper Profit
Goldman Sachs Group Inc. reported a 66 percent surge in third-quarter earnings that swept past expectations on Friday, as Wall Street’s biggest investment bank rode a record wave of M&A activity that has also boosted profit for other big U.S. banks. Net earnings applicable to common shareholders rose to $5.28 billion in the quarter ended…
Goldman Cuts Forecast for US Economic Growth in 2021 and 2022
Goldman Sachs cut its U.S. economic growth target to 5.6 percent for 2021 and to 4 percent for 2022 citing an expected decline in fiscal support through the end of next year and a more delayed recovery in consumer spending than previously expected. The firm previously expected 5.7 percent gross domestic product (GDP) growth in…
SEC Charges Ex-goldman Compliance Analyst With Insider Trading
October 1, 2021
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NEW YORK—A U.S. regulator on Wednesday charged a former Goldman Sachs Group Inc. senior compliance analyst with insider trading, saying he made illegal trades involving banking clients while working in Warsaw, Poland. The U.S. Securities and Exchange Commission (SEC) said Jose Luis Casero Sanchez, 35, of Spain, learned material non-public information about his employer’s clients…
NTD Business Full Broadcast (Sept. 7)
Goldman Sachs is lowering its economic growth forecast again. What is it blaming for the possible slower growth? El Salvador becomes the first to adopt Bitcoin as legal money. Why does the country’s president say it’s a good thing? And why are some concerned? China’s Twitter suspends celebrity fan accounts. It says it wants to…
Goldman Sachs Lowers US Growth Forecast Amid COVID-19 Delta Variant And Fading Fiscal Support
September 7, 2021
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Economists at Goldman Sachs Group Inc. have lowered their forecast for growth in the U.S. economy this year for a second time, citing the COVID-19 Delta variant and dwindling fiscal support and pointing to a “harder path” ahead for the American consumer than previously anticipated. In a report to clients on Monday, economist Ronnie Walker wrote…
Stop Investing in China: America Is the Better Bet
September 2, 2021
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Commentary The fall of Kabul to the Taliban on Aug. 15 was a shock to the world, as were images of U.S. cargo planes lumbering off the runway in “defeat” at the hands of the Taliban. Yet, there was no real Taliban defeat of America, which at its core is the idea of freedom. An…
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