Goldman Sachs is forecasting that the U.S. Federal Reserve will raise interest rates five times in 2022, versus four previously, with a hike expected in March, according to a note from its economists late on Friday. Economists have scrambled to update rate hike expectations since the Fed on Wednesday said it was likely to hike … Read more
Goldman Sachs on Saturday cut its outlook for U.S. economic growth to 3.8% for 2022, citing risks and uncertainty around the emergence of the Omicron variant of the coronavirus. Goldman economist Joseph Briggs said in a note that the Omicron variant could slow economic reopening, but the firm expects “only a modest drag” on service … Read more
JP Morgan Chase has become the world’s most systemically important bank once again according to the latest annual ranking of top lenders by global regulators, with BNP Paribas and Goldman Sachs also now deemed more systemic. The Financial Stability Board (FSB), made up of regulators from G20 countries, published its latest table of the world’s … Read more
After Morgan Stanley, Goldman Sachs, UBS and Nomura, it is CLSA now that has called for booking profits on Indian equities citing rich valuations, pressures on margins, and a high probability of earnings disappointment among other reasons. “Our concerns range from elevated energy and broader input price pressures applying downward pressure to margins, the current … Read more
LONDON: A drubbing in world equity markets and a huge flight to safety into US Treasuries this week suggests investors now doubt that a much-anticipated return to post-COVID normality is feasible any time soon. Data from the United States and China, which account for more than half of world growth, suggests a slowdown in the … Read more
Apple is working on a service that will let users pay for any Apple Pay purchase in instalments, Bloomberg News reported on Tuesday, sending shares of Afterpay and other ‘buy now, pay later’ (BNPL) companies sharply lower. Apple will use Goldman Sachs, its existing partner since 2019 for the Apple Card credit card, as the lender … Read more
Apple is working on a service that will let users pay for any Apple Pay purchase in instalments, Bloomberg News reported on Tuesday, sending shares of Afterpay and other ‘buy now, pay later’ (BNPL) companies sharply lower. Apple will use Goldman Sachs, its existing partner since 2019 for the Apple Card credit card, as the lender … Read more
Wall Street’s big investment banks are sending a message to their employees this summer: Get back into the office and bring your vaccination card. New York-based Morgan Stanley said this week that all employees will be required to attest to their vaccination status. Those who are not vaccinated will be required to work remotely, which … Read more
Gold struggled for direction in choppy trading on Friday en route to its worst week in nine months as the resumed its rally while investors took stock of the US Federal Reserve‘s hawkish outlook. Spot gold edged 0.2% down to $1,770.60 per ounce by 10:28 a.m. EDT (1428 GMT), stalling an initial uptick on some … Read more
NEW DELHI: Online furniture company Pepperfry would be in the unicorn club — companies with a valuation of more than USD 1 billion — by the time its initial public offer hits the market, a top official of the company said on Monday. Pepperfry co-founder and COO Ashish Shah while sharing plans to expand offline … Read more