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INX:GS, Dec 10, 05:04 UTC

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crude oil price: Goldman raises 2020 oil price view on OPEC-led inventory tightness, Auto News, ET Auto

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Oil producers led by Saudi Arabia and Russia, agreed on Thursday to cut output by an extra 500,000 barrels per day (bpd) in the first quarter of 2020 but stopped short of pledging action beyond March. Goldman Sachs raised its oil price forecasts for 2020, citing tighter-than-expected inventories after the Organization of the Petroleum Exporting Countries (OPEC) and its allies agreed to deepen oil output cuts through the first quarter of next year. The bank revised its Brent spot price forecast to $63 per barrel for 2020, up from a previous estimate of $60, while it also increased West Texas Intermediate (WTI) spot price outlook to $58.5 per barrel from $55.5. Brent futures were down 0.3 per cent at $64.19 per barrel, as of 0632 GMT, having risen sharply last week after OPEC and its allies agreed to deepen output cuts.

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Friday, December 06


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U.S. looking into 1MDB settlement with Goldman of less than $2 billion - Bloomberg TV

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U.S. looking into 1MDB settlement with Goldman of less than $2 billion - Bloomberg TV. WASHINGTON (Reuters) - The United States is discussing a settlement with Goldman Sachs over the 1MDB investment fund scandal for less than $2 billion, Bloomberg TV reported on Friday. Malaysia has charged Goldman and 17 current and former directors of its units for allegedly misleading investors over bond sales totalling $6.5 billion that the U.S. bank helped raise for sovereign wealth fund 1Malaysia Development Bhd (1MDB). Goldman Sachs spokeswoman Maeve DuVally said the bank continues to cooperate with the regulators' investigations, but declined to comment further.

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Thursday, December 05


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How many Goldman Sachs private equity clients are preparing for a recession? Every single one of them

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According to a recent National Association for Business Economics survey, 72% of economists expect a recession by the end of 2021. That percentage appears to be much higher among some of Goldman Sachs’s deepest-pocketed customers.

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Wealth Adviser Deals Soar as Goldman, Private Equity Covet Fees

GS SCHW

That was even before Charles Schwab Corp.’s blockbuster $26 billion agreement to purchase TD Ameritrade Holding Corp. Wall Street is flush with cash and companies from Goldman Sachs Group Inc. to private equity firms are investing in wealth managers for their stable revenue streams. Independent advisers have plenty of reasons to sell now. For starters, offers may vanish when a bear market comes, as revenues are tied directly to assets under advisement, which would drop if stock portfolios shrink. “Pricing has never been better than it is today for sellers,” said Peter Nesvold, an investment banker with Raymond James Financial Inc. “They take into consideration it’s the 11th year of an expansion. If not now, when?”. This year’s announced M&A deals for U.S. wealth advisers and brokers surpassed $5.9 billion in November prior to the Schwab news, up from 2018’s total $5.5 billion, according to data compiled by Bloomberg.

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Tuesday, December 03


News

UPDATE 1-Goldman Sachs to launch new products and services on Amazon's cloud

AMZN GS +1 more AMZN GS TRI

UPDATE 1-Goldman Sachs to launch new products and services on Amazon's cloud. NEW YORK, Dec 3 (Reuters) - Goldman Sachs Group Inc will be launching new technology-based products and services for its institutional clients on Amazon's cloud next year, bank Chief Executive David Solomon said at a conference on Tuesday. Solomon said new products on Marquee, the bank’s Web services platform, will run on Amazon Web Services. In recent years the legendary Wall Street trading firm has invested millions in Marquee, which serves as the bank's digital storefront for its trademark data and risk analysis tools. Goldman has been gradually opening up Marquee's tools to more clients, including many of whom already use Amazon's cloud, Solomon said.

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Economic growth: India's growth might have reached a trough: Goldman Sachs, Auto News, ET Auto

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Based on the current weakness in economic activity, inflation within RBI’s target band of 2-6 per cent, and soft global growth, it expects RBI to lower the repo rate by 25 bps on Thursday December 05. “We expect that the slowdown episode that began in January 2018, to end soon, in response to better global growth, easier domestic financial conditions, positive fiscal impulse, some uplift in sentiment, and an easing of supply bottlenecks,” Prachi Mishra, India economist for Goldman Sachs, said. These comments are significant amidst the latest GDP numbers for the second quarter ended September’19 at 4.5 per cent touched a 26 quarter low. It expected at 30 bps (basis points, 0.01 per cent) slip in the centre’s fiscal deficit to 3.6 per cent of GDP in FY’20 compared to the budget estimate of 3.3 per cent of GDP.

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Goldman Sachs: 3 Stocks with Double-Digit Potential in 2020

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2019 has been a fantabulous year for stock investors, with the S&P 500 returning 24% year to date. But here's the bad news: all good things must come to an end, and the clock's ticking down to the end of 2019. But here's the good news, too: 2020 might also be not too shabby a year for stocks. In a market forecast report released last week, Goldman Sachs suggested that with growth trends stabilizing, there's every chance 2020 will be a "decent" year for "risky" assets such as stocks. Albeit, Goldman prefers to buy "quality" equities when possible, because earnings growth on average could be "subdued" this coming year. So where do you find such stocks high on quality -- but ideally, stocks just "risky" enough that their valuations might still be depressed, leaving potential for upside in 2020? Utilizing the Stock Screener at TipRanks, we've sought out stocks rated highly by none other than Goldman Sachs itself, and have come up with three such.

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Monday, December 02


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Goldman Sachs Group Lowers Berkeley Group (LON:BKG) to Sell – TechNewsObserver

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Jefferies Financial Group reaffirmed a buy rating and issued a GBX 4,856 ($63.45) price objective (up from GBX 4,391 ($57.38)) on shares of Berkeley Group in a research report on Friday, September 27th. Five analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Berkeley Group has a fifty-two week low of GBX 3,170 ($41.42) and a fifty-two week high of GBX 4,698 ($61.39). The shares were sold at an average price of GBX 4,200 ($54.88), for a total value of £42,000,000 ($54,880,439.04).

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Thursday, November 28


News

Deutsche Continues Overhauling, Sells Bad Assets to Goldman

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Per Reuters, Deutsche Bank AG DB has come up with the sale of unwanted assets worth $50 billion to Goldman Sachs GS, continuing with its overhauling moves for reviving profitability. This ensures smooth winding down of assets related to businesses from which the bank plans to exit in the near term. Therefore, the latest move of vending assets to Goldman was included in the series of winding down of such assets.Notably, the bad bank holds assets worth 177 billion euros ($195 billion) in leverage exposure as of Sep 30, 2019. Further, the bank’s plans include selling off more complex equity derivatives over a couple of years.“DBK’s structural challenges, as we see them, fall into three categories: the absence of a high-return platform, elevated funding costs and uncertainty around the scope of its IB business,” Goldman Sachs said in a statement on Deutsche's restructuring efforts.Deutsche Bank has also entered into a deal with BNP Paribas SA BNPQY this September, per which the former will transfer its prime brokerage business to the latter. Moreover, amount of assets, staff and technology to be moved from Deutsche Bank to BNP Paribas are yet to be disclosed as the transition will take place in several stages.Though Deutsche Bank’s restructuring efforts, including cost-saving measures, look encouraging, it is difficult to determine how much the bank will gain, considering the prevalent headwinds.

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Wednesday, November 27


News

UPDATE 1-Deutsche Bank sells $50 bln in assets to Goldman amid overhaul - sources

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UPDATE 1-Deutsche Bank sells $50 bln in assets to Goldman amid overhaul - sources. The assets, related to emerging-market debt, were part of Deutsche's unit to wind down unwanted securities, the people said, confirming a development first reported by Bloomberg. As part of a broad overhaul, Deutsche has hived off billions in assets into a so-called capital release unit, also called a bad bank. The sale to Goldman marks the latest in a series of disposals of such assets. It is unclear how much the sale to Goldman chips away at that goal because the nominal $50 billion is not comparable to leverage exposure, a measure of risk.

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