GOLDMAN SACHS

The agreement between the Wall Street bank and the technology giant could end in 12 to 15 months, according to media reports.

The second-largest U.S. bank benefited from higher interest rates in the third quarter.

Goldman Sachs reported a steep drop in second-quarter profits Wednesday as it continued to struggle with an anemic merger and acquisition market and weakness in trading.

The settlement will be divided among 2,800 associates and vice-presidents, who participated in the suit. Also, a third of the entire amount will be set aside for attorney fees.

US authorities probe Goldman Sachs over Silicon Valley Bank collapse

More job cuts are coming for the investment bank amid slow dealmaking and economic uncertainties.

Net income came in at $3.1 billion, down 19% from the year-ago period on a 5% drop in revenues to $12.2 billion.

"If generative AI delivers on its promised capabilities, the labor market could face significant disruption," the report said.

As layoffs sweep through multiple business sectors, these CEOs are foregoing bonuses and slashing salaries in an attempt of solidarity with workers.

Walmart, America's largest employer, is raising its minimum wage to $14.

Goldman Sachs has reportedly slashed its workers' bonuses by as much as 90 percent.

Wall Street's main indexes slipped on Tuesday as Goldman Sachs missed quarterly profit estimates, worsening sentiment already dented by concerns of a slowdown in China's economic growth.

Goldman Sachs has also ended meal allowance for its employees and limited free daily car rides to employees who work well into the evening.

An investigative report said that Long Island Republican Rep. George Santos did not work at two Wall Street firms and had a criminal record in Brazil.

Goldman Sach has introduced a new data service called datonomy under global index provider MSCI and also formed an advisory board to advise MSCI.

Goldman Sachs’ CEO David Solomon issued a stark warning that the world is at risk of seeing global inflation becoming entrenched for years to come if pressures on global economy are not eased.

The U.S. economy has a 35% chance of tipping into recession amidst rising inflation and plans by the Federal Reserve to raise interest rates in the coming months, according to analysts from Goldman Sachs.

Goldman Sachs announced on Thursday that it would be winding down its operations in Russia, but other major Western banks are more reluctant to cut ties just yet.

Apple CEO Tim Cook said Thursday that the company is “investing accordingly” into the metaverse as he sees various possibilities within the realm. 

As Prime Minister Boris Johnson announced the United Kingdom will ease its COVID protocols, major banks such as Goldman Sachs and HSBC have asked their employees to return to offices.

Analysts are predicting that oil prices will strike $100 a barrel in 2022 amidst mounting fears that production will fail to keep up with ravenous demand for energy and geopolitical tensions that add to supply fears.