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This year, wealth managers were forced to set aside their high-touch in-person approach to managing people’s finances and connect with clients virtually. Fortunately for them, the stock market has recovered strongly, and the asset values on which they depend for fees are generally higher. Thus, after the initial market panic […]
Goldman
President-elect Joe Biden’s first stimulus plan may underwhelm by trillions: Goldman Sachs
A now President-elect Joe Biden is known in D.C. circles as a consummate dealmaker, the throwback politician with the unique ability to lend an olive branch to those VIPs in the Republican Party. Biden’s dealmaking prowess will be put to an early test amid renewed stimulus talks during the transition […]
Goldman Sachs’s Third-Quarter Profit Soars
Goldman Sachs Group Inc. GS -1.55% ’s third-quarter profit nearly doubled, the latest confirmation that, even in a pandemic and a recession, Wall Street can still make money. Goldman reported a quarterly profit of $3.62 billion, or $9.68 a share, on revenue of $10.78 billion. Both measures were better than […]
Goldman, BofA Left Off Ant IPO for Work With Alibaba Rivals
(Bloomberg) — Goldman Sachs Group Inc. and Bank of America Corp. were left off Ant Group’s upcoming stock sale in Hong Kong because of their past work with rivals of its affiliate Alibaba, according to people familiar with the matter. Bankers have been told by senior executives at Alibaba Group […]
Goldman Sachs predicts these stocks will benefit from a weakening dollar
The U.S. dollar is slumping, but investors could still make some greenbacks off of a few key stocks. FX strategists at Goldman Sachs predict the trade-weighted USD will weaken some 5.3% in the coming year, off of a roughly 4% slump from mid-May, strategists at the firm wrote in a […]