Cuts in the trading and sales division come as the investment bank led by CEO Lloyd Blankfein grapples with a changing banking landscape.
Parking your cash at the prestigious — and often criticized — investment bank might be a smart move. Here’s why.
Even as stocks pushed toward new heights in the past week, fewer big money managers considered themselves bullish on the course of the market.
The market is inching toward record highs, even as economic data remain soft and corporate earnings are set to decline.
Reporting a steep earnings drop for the first quarter, financial giant Goldman Sachs is feeling the pain in its investment banking and trading divisions.
The financial giant reported declining profit for the fourth straight quarter as market volatility hit its bond-trading and investment banking businesses.
Much like its peers, Goldman’s investment banking unit has been hurt by the near-simultaneous decline in bonds, stocks and oil prices, and low interest rates in the U.S.
The company has already started trimming its operations, and is increasingly rejecting bankers’ spending on travel, hotels and entertainment, Bloomberg reported.
The bank’s net income fell to $5.52 billion in the first quarter ended March 31, from $5.91 billion a year earlier.
This week’s settlement over mortgage-era misdeeds is supposed to penalize Goldman Sachs to the tune of $5.1 billion. The actual cost may be closer to $4 billion.
The settlement, which Goldman disclosed in January, stems from its conduct in the subprime mortgage crisis that led to the Great Recession.
Atlanta-based SecureWorks, which Dell bought in 2011, said its offering was expected to be priced from $15.50 to $17.50 per share, raising as much as $157.5 million.
Executive salaries were trimmed by 4 percent to 5 percent from the previous year due to “challenging financial markets,” the bank said Friday.
U.S. investigators are probing whether the investment bank misled bondholders when it sold securities issued by the Malaysian state-run fund.
The numbers now show Citigroup and Bank of America ahead of fifth-place Deutsche Bank.
As global investigations into the troubled Malaysian state-run fund widen, U.S. Department of Justice officials asked the banks for information.
Amid a sharp drop in iPhone sales growth, hedge funds are overweighting Apple’s equity and mutual funds are underweighting its stock.
Malaysia’s state-run fund 1MDB has been at the center of controversy since last July, when millions of dollars were allegedly traced to the personal accounts of the prime minister.
Wall Street CEOs, including Goldman Sachs' Lloyd Blankfein, expressed bewilderment at the scale of the 2008 financial crisis, newly released documents show.
For the first time this year, investors are putting money into mutual funds and exchange-traded funds rather than taking it out, data show.
The bank employed the daughter of the Malaysian prime minister’s former ally when it worked with the scandal-hit 1MDB, according to the Wall Street Journal.
Tim Leissner, who handled deals for the controversial Malaysian state-run investment fund 1MDB, resigned in February.
