British industrialist Sanjeev Gupta’s companies seemed to be prospering until his main lender, Greensill Capital, imploded last month. But long before Greensill collapsed, several banks had cut off the commodity trading business of Gupta’s Liberty House Group. Four banks stopped working with Gupta’s commodity trading business, starting in 2016, after they became concerned about what … Read more
Wall Street brokerage Goldman Sachs has flagged a slew of concerns on the surging COVID-19 caseload that has been hitting new records everyday, coupled with the rising lockdowns, forcing it to downgrade India’s GDP growth forecast for the full year to 10.5 per cent from 10.9 per cent, apart from pegging down stock indices valuation … Read more
NEW YORK/HONG KONG: US investor Sung Kook “Bill” Hwang was looking for a second chance on Wall Street after falling from grace and shutting his multibillion-dollar hedge fund firm. Japan’s Nomura Holdings Inc gave him one. Nomura had previously had a relationship with Hwang’s Tiger Asia Management LLC before the investment firm shut down in … Read more
Kolkata: Suryoday Small Finance Bank has raised Rs 170 crore from 13 anchor investors, including Axis Mutual Fund Trustee, ICICI Prudential Life Insurance Company and Goldman Sachs, at Rs 305 per equity share – the upper band of the IPO price. The allocation covered 29% of the IPO size and 68.4% of the total fresh … Read more
India is likely to go ahead with an oil tax cut to soften retail prices, said Bank of America Securities. Synopsis International crude oil prices have surged to their highest levels in 13 months recently, led by a strong demand outlook due to recovery in global economies as well as supply disruptions in the Middle … Read more
WASHINGTON: U.S. employers shed jobs last month for the first time since April, cutting 140,00 positions, clear evidence that the economy is faltering as the viral pandemic tightens its grip on consumers and businesses. At the same time, the unemployment rate stayed at 6.7%, the first time it hasn’t fallen since April. Friday’s figures from … Read more
New York: Goldman Sachs Group will pay a record foreign bribery penalty in the US and will enter a guilty plea for the first time ever for its role in the plundering of Malaysia’s 1MDB investment fund. A Goldman subsidiary in Malaysia pleaded guilty to a single charge for its role in a scheme to … Read more
By Cormac Mullen Traders need to reduce expectations that a delayed U.S. election result could upend markets, according to Goldman Sachs Group Inc. While a delayed outcome is a “tail risk,” a combination of early results, voter turnout, county-level data and the high correlation of polling errors across states suggests investors will have enough information … Read more
NEW DELHI: Morgan Housel says making money on investments is not a complicated thing, but it isn’t easy either. “Not everyone can or will master the emotional side of investing. To achieve extreme success, one needs a bit of luck,” he told ETNow in an interview. Housel, partner at venture capital firm The Collaborative Fund, … Read more
By Ranjeetha Pakiam Gold will extend its record-setting rally on “massive currency debasement” and expectations for further stimulus, according to SkyBridge Capital, which recently added exposure to the metal after exiting in 2011. “When you think of currency debasement the question is, what is the dollar going to weaken against, and when you look around … Read more