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One of the biggest financial stories of the moment is the collapse of Silicon Valley Bank. And now Goldman Sachs is being pulled into the drama. The investment bank is set to receive more than $100 million dollars after the failure of SVB, The New York Times reported on Wednesday. That’s because Goldman bought $21.4 billion of debt from the beleaguered bank, which came at a loss of $1.8 billion to SVB. (A spokesperson for Goldman declined to comment to the Times.) Let’s step back a bit: In early March, Moody’s told SVB privately that it was facing a potential...

Goldman Sachs has hired Jared Cohen, a former Google executive nicknamed the “director of regime change” by Wikileaks founder Julian Assange, for a new project that will use technology to advance the notoriously powerful investment bank’s policy goals around the world. Cohen was also a senior official in Hillary Clinton’s state department who will now manage “shifts in the geopolitical landscape” for the financial giant.

and leave and firing them without paying a bonus for their work in the past year Goldman Sachs began slashing 3,200 jobs on Wednesday at its offices in New York, London and Hong Kong in a move to cut back on expenses Sources said the employees were axed in short meetings, and their yearly bonuses were withheld in a move to allegedly spur resignations Many former employees have already taken to LinkedIn to share their shock It comes as CEO David Solomon warned that the investment giant needed to cut costs after its workforce swelled to 49,100 while revenue shrank...

Goldman Sachs strategists are starting to change their tune on the potential for a U.S. recession. "We now see recession risk as higher and more front-loaded," Goldman Sachs Chief Economist Jan Hatzius wrote in a new note to clients. "The main reasons are that our baseline growth path is now lower and that we are increasingly concerned that the Fed will feel compelled to respond forcefully to high headline inflation and consumer inflation expectations if energy prices rise further, even if activity slows sharply." And while Goldman stopped short of saying a recession will occur, maintaining its preview stance, the...

Goldman Sachs plans to lay off as many as 4,000 employees as it struggles to meet profitability targets and retreats from its gamble on Main Street banking, people familiar with the matter said. Managers across the firm have been asked to identify low performers for what could be a cut of up to 8% to its workforce early next year, the people said, with some cautioning that no final list has been drawn up. Those cuts appear to be much deeper than ones taking place at other Wall Street firms like Citigroup, which is letting go of dozens of staffers...

Goldman Sachs is preparing for more job cuts in the near future, according to CEO David Solomon. “We are conducting a careful review and while discussions are still ongoing, we anticipate our headcount reduction will take place in the first half of January,” Solomon explained in a year-end note to employees, Bloomberg reported Wednesday. “There are a variety of factors impacting the business landscape, including tightening monetary conditions that are slowing down economic activity. For our leadership team, the focus is on preparing the firm to weather these headwinds,” he added

Republican Rep.-elect George Santos comes to Congress in January with a degree from Baruch College and stints at Citigroup and Goldman Sachs, according to his campaign biography. But a New York Times investigation revealed Monday that nobody by Santos' name, or a deviation of it, graduated in 2010 from Baruch. Nobody at Citigroup nor Goldman Sachs had a record of Santos working at their offices....

A coalition of 19 state attorneys general from across the country launched a formal investigation into six major U.S. banks last week citing legal concerns about banks’ “ESG” investing and their involvement with a United Nations alliance fighting CO2 emissions.The banks “appear to be colluding with the U.N. to destroy American companies” and undermine the nation’s best interests, one of the AGs warned in a statement e-mailed to The Epoch Times.Another AG argued that these U.N.-inspired banking policies were resulting in jobs being sent to communist China as the regime there continues building coal-fired power plants to ensure low-cost, reliable...

Sen. Ted Cruz (R-TX) has caved to the Democrats on legislation that would allow media organizations to create formal cartels to negotiate with Big Tech companies, several congressional aides and others familiar with the process told Breitbart News on Wednesday. If Cruz goes forward with his plans to back—and allow the senate to advance—the legislation, then he will immediately become one of the biggest enablers of the establishment media and Big Tech giants and he could seriously jeopardize his political future.

Wall Street giant Goldman Sachs will lift all COVID protocols that have kept some workers away as it pushes all employees to return to the office five days a week after Labor Day, The Post has learned. In a memo sent Tuesday obtained by The Post, Goldman Sachs told workers it will no longer require vaccines, COVID testing or masks — a signal it won’t accept excuses for employees who claimed COVID as a reason for working from home. “There is significantly less risk of severe illness,” the memo stated. “In line with [the CDC’s] updated protocols, if you have...

Apple’s going to handle the lending for its new buy now, pay later (BNPL) service, and doesn’t plan on shifting that responsibility to a financial service, according to reports from Bloomberg and CNBC. The company’s subsidiary, Apple Financing LLC, is reportedly licensed to provide lending services and will remain separate from Apple’s main business. Apple announced its BNPL service, Pay Later, at its annual Worldwide Developers Conference (WWDC) on Monday. The service will let users make a purchase through Apple Pay, and then pay back that amount in four equal installments over the course of six weeks with no interest....

EXCLUSIVE - Republican Sen. Ted Cruz of Texas will team up on Thursday and Friday with Dave McCormick, one of the front-runners in Pennsylvania’s crowded, combustible, and expensive GOP Senate primary. [cut] Cruz’s two days of campaigning with McCormick will come just ahead of Pennsylvania’s May 17 primary, and it also comes less than a week after former President Donald Trump headlined a rally in western Pennsylvania with McCormick’s rival for the nomination, Mehmet Oz, whom Trump endorsed just a couple of weeks ago.

Goldman Sachs, the giant New York investment bank, is cashing in on the war in Ukraine by selling Russian debt to U.S. hedge funds — and using a legal loophole in the Biden administration’s sanctions to do it. As the Western world scrambles to defend Ukraine by locking down Russian money, the company is acting as a broker between Moscow’s creditors and U.S. investors, pitching clients on the opportunity to take advantage of Russia’s war-crippled economy by buying its debt securities low now and selling them high later, according to four financial world sources familiar with the strategy. Goldman’s effort...

Geopolitical risks are on the rise in a system with no slack, and that, according to Goldman Sachs commodities research chief, Jeffrey Currie, strengthens his thesis that the case for commodities has rarely been stronger. While many commodities are fundamentally exposed to events in Ukraine, believes oil and gold provide the cleanest hedges for this geopolitical risk. First, there is clear upside skew in oil prices on both a tactical and strategic basis, with any geopolitical risk premia coming in on top of the tightest inventory levels in decades, low spare capacity and a much less elastic shale sector. If...

History is not standing still. It did not stop with the Clinton era, which is now finally over. At least history did not stop for America. America is moving along and at a rapid pace. For the Clintonistas and their millennial acolytes, however, I guess America did stop. In fact, it froze, locked into an eternal 1968, forever reliving all the demonstrations, the sit-ins and the sobbing, heaving hubbub of yesteryear. Yet America goes on riding the currents of history, and those currents are moving rapidly. As for the Clintons themselves, they have been stopped dead in their tracks. There...

Reports of labor shortages may not end anytime soon because a hefty number of retirement age workers have left the labor force - and a whole lot of them may not be coming back. A Friday note from Goldman Sachs researchers led by Jan Hatzius finds that 3.4 million of the people who left the labor force - meaning they're not working or aren't actively looking for work - are over 55. Roughly 1.5 million of them were early retirements, and 1 million were normal retirements. Those two groups of retirements "likely won't reverse," meaning that, out of the five...

Now that the Delta Variant is officially the fastest spreading COVID strain in the US, a team of analysts at Goldman Sachs who have been trying to forecast the impact of Delta on the global economy declared last week that emerging economies with low vaccination rates are the most vulnerable to Delta-induced lockdowns and other economy-crushing containment measures. However, in heavily vaccinated countries like the US and UK, the analysts pointed out a newfound discrepancy: while Delta is driving new cases higher in places where restrictions on movement and business have recently been lifted, the number of new hospitalizations and...

Eight people have been arrested for trespassing during a climate change protest outside Ted Cruz's Houston home. Around 70 activists staged a demonstration outside the Texas Senator's $2million property in the ritzy River Oaks neighborhood on Monday morning, before police were called to the scene. The protest was held by the Sunrise Movement, an organization advocating for political action on climate change, with video showing some of the participants sitting on Cruz's front lawn and refusing to budge. Police negotiated with some of the activists for more than an hour, and threatened to take them into custody if they did...

U.S. stock index futures dropped on Monday after Wall Street’s surge in the prior session as major lenders came under pressure on concerns over possible spillover effects of a hedge fund’s default on margin calls. Nomura and Credit Suisse warned of significant losses after the U.S. hedge fund, named by sources as Archegos Capital, defaulted, hitting shares in some big U.S. media and Chinese tech companies. The news has sparked fears that other lenders could be in the process of exiting these positions too. Shares in Bank of America Corp, Citigroup Inc, JPMorgan Chase & Co, Goldman Sachs, Wells Fargo...

Goldman Sachs sold a LOT of stocks friday to the tune of 10.5 billion. Something's up. Link only. Click here for story.