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Why Goldman Sachs sees a ‘baby bear market’ in bonds

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Betting against bonds has not, to say the least, performed well, for the last 40 years or so. But Goldman Sachs sees a baby bear market performing.

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Goldman Sachs Group Analysts Give Bayerische Motoren Werke (ETR:BMW) a €67.00 Price Target – TechNewsObserver

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Bayerische Motoren Werke (ETR:BMW) has been given a €67.00 ($77.91) target price by equities research analysts at Goldman Sachs Group in a research note issued on Thursday, Borsen Zeitung reports. Bayerische Motoren Werke has a 52 week low of €58.04 ($67.49) and a 52 week high of €78.30 ($91.05). The company has a quick ratio of 0.80, a current ratio of 1.14 and a debt-to-equity ratio of 200.29. The stock’s 50-day moving average price is €68.85 and its 200-day moving average price is €65.89.

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Bayerische Motoren Werke (ETR:BMW) Given a €74.00 Price Target by Royal Bank of Canada Analysts – Riverton Roll

GS BMW

Bayerische Motoren Werke (ETR:BMW) has been assigned a €74.00 ($86.05) price objective by analysts at Royal Bank of Canada in a research note issued to investors on Wednesday, November 6th, Borsen Zeitung reports. Five analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of €72.41 ($84.20). Bayerische Motoren Werke has a twelve month low of €58.04 ($67.49) and a twelve month high of €78.30 ($91.05).

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Wednesday, November 20


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Goldman to Hire, Add Capital to China Venture If It Gets Control

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Goldman to Hire, Add Capital to China Venture If It Gets Control. (Bloomberg) -- Goldman Sachs Group Inc. Chief Executive Officer David Solomon said he would “significantly” increase capital in an investment banking joint venture in China, and “meaningfully” boost its headcount, if the firm is allowed to take a controlling stake in the unit and progress is made in U.S.-China trade talks. The remarks by Solomon to journalists in Beijing on Wednesday are a fresh sign of the bank’s interest in scaling up that business in China, confirming a report two years ago that the New York-based firm intends to dedicate more capital and staff to the region once it gains a majority stake in Goldman Sachs Gao Hua Securities Co. Solomon’s comments are particularly relevant because he took over as CEO after that earlier report.While Goldman Sachs has applied to increase its holding in the venture to 51% from 33%, “we’re excited to potentially progress and ultimately own, control 100% of our business in China,” he said.“Just recently, our team in China presented a five-year business plan to our board that emphasizes our continued commitment to the medium- and longterm in China to grow our business and our excitement about the opportunities that we saw to work with our clients here in China as China continues to grow.”. Solomon spoke Wednesday at an event at the Tsinghua University School of Economics for the Goldman Sachs 10,000 Women initiative, marking 10 years of the program in China. Hundreds of graduates of the program attended. For more articles like this, please visit us at bloomberg.com.

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Tuesday, November 19


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Former Goldman Sachs CEO pushes back on Warren's criticism, wealth tax

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U.S. Former Goldman Sachs CEO pushes back on Warren's criticism, wealth tax. (Reuters) - Former Goldman Sachs Group Inc (GS.N) Chief Executive Lloyd Blankfein pushed back on Tuesday against Elizabeth Warren's criticism of him and other prominent billionaires, saying the singling out of individuals makes him fear for the "political process in the United States." "But going after specific individuals ... is that really good? I'm not so sure." In response, Blankfein tweeted last week that he was "surprised" to be featured in the ad, and that "vilification of people as a member of a group may be good for her campaign, not the country. Maybe tribalism is just in her DNA." Asked on Tuesday if the comment was intended to be a dig at Warren's claims of Native American heritage, Blankfein declined to elaborate, saying people can come to their own conclusions. Blankfein also said he understands the public support for a wealth tax, but called the policy "completely unworkable" because he said it would require annual assessments of the value of an individual's estate.

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Monday, November 18


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Berkeley Group (LON:BKG) Cut to “Sell” at Goldman Sachs Group – TechNewsObserver

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Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. Shares of BKG stock opened at GBX 4,606 ($60.19) on Friday. Berkeley Group has a 52-week low of GBX 3,170 ($41.42) and a 52-week high of GBX 4,629 ($60.49). The Berkeley Group Holdings plc, together with its subsidiaries, engages in the residential-led and mixed-use property development activities in the United Kingdom.

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Friday, November 15


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Goldman Sachs to Pay $20 Million in Bond-Rigging Settlement

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(Bloomberg) -- Goldman Sachs Group Inc. agreed to pay $20 million to settle an investor lawsuit accusing traders at the bank, along with 15 other financial institutions, of rigging prices for bonds issued by Fannie Mae and Freddie Mac. As part of the settlement, disclosed Friday in a court filing, Goldman Sachs will cooperate with investors in their case against the other banks. Investors sued after Bloomberg reported in 2018 that the U.S. Department of Justice was investigating some of the world’s largest banks for conspiring to rig trading in unsecured government bonds. Goldman Sachs has turned over 71,000 pages of potential evidence, including four transcripts of chat-room conversations among its traders and some from Deutsche Bank AG, BNP Paribas SA, Morgan Stanley and Merrill Lynch & Co., according to court papers filed Friday. First Tennessee Bank and FTN Financial Securities Corp. agreed to a $14.5 million settlement later in September.

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Goldman Sachs settles bond-rigging lawsuit

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NEW YORK (Reuters) - Goldman Sachs Group Inc <GS.N> agreed to pay $20 million (£15.6 million) to resolve claims by investors that it conspired to rig prices of bonds issued by Fannie Mae <FNMA.PK> and Freddie Mac <FMCC.PK>. Deutsche Bank AG <DBKGn.DE> settled for $15 million and units of Tennessee's First Horizon National Corp <FHN.N> settled for $14.5 million in September. Investors including Pennsylvania Treasurer Joe Torsella accused banks of exploiting their market dominance to overcharge for Fannie Mae and Freddie Mac bonds from Jan. 1, 2009, to Jan. 1, 2016, and keep more profit for themselves. According to the investors, the defendants underwrote $3.97 trillion, or 77.2%, of Fannie Mae and Freddie Mac bonds in that seven-year period, with Barclays Plc <BARC.L>, JPMorgan Chase & Co <JPM.N> and UBS Group AG <UBSG.S> having the largest shares.

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Goldman Sachs’ misguided World Cup predictions could provide clues to the Apple Card controversy

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Goldman Sachs’ misguided World Cup predictions could provide clues to the Apple Card controversy. US regulators are investigating whether Apple’s credit card, launched in August, is biased against women. Software engineer David Heinemeier Hansson reported on social media that Apple had offered him a spending limit 20 times higher than his wife, Jamie Heinemeier Hansson. When Jamie spoke to customer service at Goldman Sachs, the bank behind the Apple card, she was told her credit limit was determined by an algorithm, and bank reps couldn’t explain why it came to the conclusion it did. Machine learning tools are, for the most part, black boxes: For what they promise in accuracy, data scientists using them lose the ability to understand how much each factor matters to the ultimate outcome of a prediction (in statistics, this is called “inference”). For the World Cup, Goldman’s researchers knew that the variables of team strength, individual player strength, and recent performance were important predictors, but quantifying precisely how much each matters to the outcome of a match was impossible. While a regression-based model would have been a blunter tool, it would have allowed the researchers to clearly state how much of an effect each variable had on their prediction. In the case of the Apple Card, we don’t know for sure whether Goldman used machine learning to inform its system for calculating credit limits, but it seems likely it did, and by doing so may have put primacy on precision above all else. As mathematician Cathy O’Neal recently told Slate, when companies choose to use algorithms, “[t]hey look at the upside—which is faster, scalable, quick decision-making—and they ignore the downside, which is that they’re taking on a lot of risk.”.

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adidas (FRA:ADS) Given a €310.00 Price Target at Goldman Sachs Group – TechNewsObserver

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Friday, November 15th, 2019. adidas (FRA:ADS) received a €310.00 ($360.47) price target from research analysts at Goldman Sachs Group in a research report issued on Wednesday, November 6th, Borsen Zeitung reports. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of €274.42 ($319.09). The company operates in 10 segments: Europe, North America Adidas, North America Reebok, Asia-Pacific, Latin America, Emerging Markets, Russia/CIS, Adidas Golf, Runtastic, and Other Centrally Managed Businesses.

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