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INX:GS, Feb 22, 03:06 UTC

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Will A New Goldman-Backed Credit Card Breathe Life Into Apple Pay?

AAPL GS

Will A New Goldman-Backed Credit Card Breathe Life Into Apple Pay? Apple is partnering with Goldman Sachs to offer a new credit card, which it’s releasing to employees in a test phase in the coming weeks. The card will integrate with the iPhone, Apple Watch and Apple’s mobile payment services Apple Wallet and Apple Pay, paving the way for new features, like helping consumers set spending goals and nudging them to pay down debt faster, according to the Wall Street Journal (Apple didn’t respond to requests for comment). Phone sales fell 15% to $52 billion in the last quarter of 2018, compared with the same period in 2017. For Apple’s payments initiatives, the holy grail would be to build businesses like China’s Alipay and WeChat Pay, payments apps that have morphed into ecosystems of services, letting consumers book flights and summon rides.

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forbes.com
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Should You Get the Apple and Goldman Sachs Credit Card?

AAPL GS

Apple and Goldman Sachs will launch a joint credit card this spring, the Wall Street Journal reports. The card is expected to be paired with new Apple Wallet features that will allow cardholders to “set spending goals, track their rewards and manage their balances.”. The Journal reports that the card, which will use Mastercard’s payment network, will offer two percent back on “most” purchases, in line with rewards cards currently offered by other financial institutions, and potentially other discounts on Apple products. Arielle O’Shea, personal finance expert at NerdWallet, says the partnership shows Goldman is trying to attract millennial clients to grow its consumer base. But that doesn’t mean that the card is necessarily the best pick for that generation.

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6 Hot Stocks For Goldman Sachs’ New Investing Strategy

GS DAL

“For the past two years we have consistently advocated buying strong balance sheet stocks, but we believe the risk-reward has shifted in favor of closing this recommendation,” Goldman Sachs’ equity strategist David Kostin wrote on Feb. 8. These “strong balance sheet” stocks include major names like Facebook (NASDAQ:FB), Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) and Costco (NASDAQ:COST). So far this strategy has done very well for investors. This should ease pressure on corporate balance sheets — leading Kostin to say: “Our recent research showed that strong balance sheets are among the worst performing factors during the 12 months following the end of Fed hiking cycles, when U.S. Treasury yields typically also decline.”. “As we move into 2019, we expect to drive double-digit earnings growth through higher revenues, maintaining a cost trajectory below inflation, and the modest benefit from lower fuel costs.”. As Tigress Financial’s Ivan Feinseth (Track Record & Ratings) notes, a strong economy, low unemployment and increases in consumer spending are driving record levels of airline travel.

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finance.yahoo.com
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Goldman's Grocer Suit Takes Early Turn With Bid to Oust Law Firm

GS

Goldman's Grocer Suit Takes Early Turn With Bid to Oust Law Firm. (Bloomberg) -- A lawsuit that pits a regional grocery distributor against top Wall Street banks including Goldman Sachs Group Inc. and Bank of America Corp. took a turn with an attempt to oust the law firm representing United Natural Foods Inc. U.S. Bancorp, one of the defendants, plans to file a motion to have Quinn Emanuel ejected from the case because it represented the bank in another matter, according to a filing Wednesday that was signed by the Wall Street firms. The move comes on top of an effort to have the case shifted from state court to federal court, all of which will serve to delay the legal process, said Greg Marose, a spokesman for United Natural. Nicole Sharp, a bank spokeswoman, repeated an earlier statement on the lawsuit: “Goldman Sachs believes that these claims are entirely without merit.

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finance.yahoo.com
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AVEVA Group (AVV) Price Target Lowered to GBX 2,950 at Goldman Sachs Group – PressOracle

GS AVV

AVEVA Group (LON:AVV) had its target price dropped by investment analysts at Goldman Sachs Group from GBX 3,050 ($39.85) to GBX 2,950 ($38.55) in a note issued to investors on Monday, January 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. AVEVA Group has a twelve month low of GBX 1,791 ($23.40) and a twelve month high of GBX 3,080 ($40.25). The stock was acquired at an average price of GBX 2,387 ($31.19) per share, for a total transaction of £62,491.66 ($81,656.42).

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pressoracle.com
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Apple Pay's rebirth gives Goldman a gateway to consumers

AAPL GS

Banks and Apple Pay have not always had easy partnerships, but a hot market for co-branded cards gives Goldman Sachs a chance to advance its consumer ambitions and Apple an opportunity to offset slumps in device sales. As Apple picks up adoption among merchants and consumers, it is plotting a deeper dive into payments that will require the added revenue streams that a card can provide. That's driving a test of a co-brand credit card, according to The Wall Street Journal, which is an advancement of initial reports last May that Goldman Sachs and Apple were working together. Even though a plastic card carrying the Apple name helps Goldman's first foray into consumer finance, more important, the companies will want to promote the digital card and online instant issuing of that product, said Richard Crone, chief executive of Crone Consulting, a payments consulting firm in San Carlos, Calif. "Co-brand is hot, a significant recovery from 10 years ago," Crone added, noting that Google Pay has a co-brand with Synchrony Financial. Processors were likely to add levies for any new accounting or billing systems that would unfold for paying Apple for the transactions and the card networks as token providers. But as Apple Pay expands, there's more of a chance for banks to see beyond these early concerns over fees. "This is just a different play, with their name on the card, with the emphasis on a digital download." While he didn't say Apple was expanding its payments footprint through a Goldman Sachs card, CEO Tim Cook praised the mobile payment system during Apple's earnings report in January. And he had much to tout.

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paymentssource.com
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ConvaTec Group (CTEC) Target Price Lowered to GBX 118 at Goldman Sachs Group – BharataPress

GS CTEC

The firm currently has a “neutral” rating on the stock. Finally, Jefferies Financial Group lowered their price objective on ConvaTec Group from GBX 280 ($3.66) to GBX 210 ($2.74) and set a “buy” rating on the stock in a report on Wednesday, October 31st. The company presently has a consensus rating of “Hold” and a consensus price target of GBX 179.42 ($2.34). ConvaTec Group has a 52 week low of GBX 181.40 ($2.37) and a 52 week high of GBX 349.10 ($4.56).

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Apple and Goldman to Test Joint Credit Card Within Weeks, WSJ Says

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Apple and Goldman to Test Joint Credit Card Within Weeks, WSJ Says. (Bloomberg) -- Apple Inc. and Goldman Sachs Group Inc. will begin testing a jointly developed credit card with employees in the next few weeks, according to people with knowledge of the matter. The card will pair with new iPhone software features that will help users manage their finances, according to the Wall Street Journal, which reported the plans earlier Thursday. Bloomberg reported last May that Apple and Goldman were developing a co-branded credit card as a way for the investment bank to deepen its push into consumer finance.

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finance.yahoo.com
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Goldman Sachs in Apple Credit Card Deal and other Digital Transactions News briefs from 2/21/19 – Digital Transactions

AAPL GS

Goldman Sachs in Apple Credit Card Deal and other Digital Transactions News briefs from 2/21/19. Apple Inc.and the Goldman Sachs Group Inc. will begin issuing a joint credit card this spring, The Wall Street Journal reported. It is unknown what will happen to that card, but the contract may have been up for rebidding when the Apple and Goldman Sachs deal was launched last year. USA Technologies Inc., a provider of contactless card-acceptance technology for vending and other self-serve markets, said vending-sales broker G&J Marketing and Sales LLC will resell its technology to G&J’s base of more than 2,000 operators of unattended retail locations.

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Report: Apple, Goldman Sachs team up to offer credit card - KXLY

AAPL GS

(CNN) - Apple and Goldman Sachs are reportedly teaming up to offer a new credit card. The card is designed to work with the Apple Wallet app on iPhones to help customers set spending goals, track their rewards and manage their balances, according to the Wall Street Journal. Apple says it is on track to reach that $50 billion annual goal by 2020. And Goldman Sachs is looking to grow its retail consumer business. By having a new joint card with Goldman, Apple could get a much bigger slice of fees paid by merchants on credit card purchases.

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kxly.com
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