Banks
Goldman Sachs CEO advises clients to be cautious because Fed policy has unpredictable consequences
Goldman Sachs CEO David Solomon is advising his clients to be more cautious with their finances because the Federal Reserve’s moves to combat inflation could result in recession or other negative consequences. Higher interest rates and a reversal in the Fed’s bond-buying programs are “going to have an impact on a number of things in […]
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Goldman Sachs reveals how to trade the ‘troubling triad’ hitting markets right now
Goldman Sachs ‘ Asia strategists say markets are facing a “troubling triad” of rising rates, recession risk and dollar strength — but they expect some stocks to benefit. Here are some of their buy-rated picks, a number of which are on Goldman’s conviction list. “Asian regional markets are off to one of the worst starts […]
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JPMorgan investors hand Jamie Dimon a rare rebuke with disapproval of $52.6 million bonus
JP Morgan Chase & Co. Chairman & Chief Executive Officer Jamie Dimon testifies before the House Financial Services Committee on accountability for megabanks in the Rayburn House Office Building on Capitol Hill in Washington, DC on April 10, 2019. Mandel Ngan | AFP | Getty Images JPMorgan Chase CEO Jamie Dimon was handed a rare […]
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Citigroup shares jump 7% after Warren Buffett reveals a near $3 billion stake in the struggling bank
Berkshire Hathaway Chairman and CEO Warren Buffett. Andrew Harnik | AP The 91-year-old “Oracle of Omaha” scooped up Citi shares while they have been underperforming the rest of the financial sector in the past 12 months. The stock is down nearly 40% while the Financial Select Sector SPDR Fund is off by 12% over the […]
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What may be behind Buffett’s surprising deep value bet on Citigroup
Count veteran banking analyst Mike Mayo among those on Wall Street surprised by Berkshire Hathaway ‘s recent $2.95 billion wager on Citigroup shares. The move, disclosed Monday in regulatory filings, is Berkshire’s biggest new bet on financials made in the first quarter. Berkshire also took a much smaller stake in online bank Ally Financial . […]
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Goldman Sachs gives senior managers a new perk: ‘Flexible vacation’ policy
David Solomon, CEO, Goldman Sachs, speaking at the World Economic Forum in Davos, Switzerland, Jan. 23, 2020. Adam Galacia | CNBC Goldman Sachs is giving its top managers a new perk more common in the tech industry: the ability to take as much vacation time as they want. The investment bank told managing directors and partners last […]
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Want to beat the market volatility? A fund manager explains how
Jordan Cvetanovski of Pella Funds Management names the companies to own in uncertain times, some of which did well during the global financial crisis and Covid. Speaking to CNBC Pro Talks last week, he noted that global headwinds are roiling the stock market — and some sectors are set to benefit. Stock exchanges are one […]
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Goldman ‘deal guy’ behind Apple, GM cards leaves for fintech start-up iCreditWorks
iCreditWorks CEO Scott Young, former chief commercial officer of Goldman Sachs Marcus. Courtesy: Goldman Sachs A Goldman Sachs executive known for securing some of the industry’s biggest credit-card deals in recent years has left to join early stage start-up iCreditWorks, CNBC has learned. Scott Young, who was chief commercial officer of Goldman’s Marcus consumer business, […]
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Grayscale tells SEC that turning biggest bitcoin fund into ETF will unlock $8 billion for investors
Michael Sonnenshein, CEO, Grayscale Investments at the NYSE, April 18, 2022. Source: NYSE Grayscale, the asset manager running the world’s largest bitcoin fund, met privately with the Securities and Exchange Commission last week in an effort to persuade the regulator to approve the conversion of its flagship fund into an ETF, CNBC has learned. Turning […]
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HSBC thinks these global energy stocks could be winners — and gives one upside of over 100%
HSBC says a “generational shift” in energy policy could be on the horizon— and names the stocks it thinks could benefit. Source
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