Goldman Sachs Group (the) Stock News

Citigroup, Goldman Sachs and Norwest Venture sold their entire stake in FY22, exchange data shows; others have pruned holdings

Circle, the financial technology firm behind the USDC stablecoin, has revised its merger agreement with Concord, a special purpose acquisition company (SPAC). According to the revised merger agreement, the partners will form a new business entity that would later pursue public listing on the New York Stock Exchange (NYSE). The previous business combination terms made in July 2021 over a $4.5 billion blank-check deal. This has since been terminated, with the new agreement set for finalization this year on December 8, 2022. This may further be extended to January 31, 2023, according to Circle and Concord. “It was clear that the original deal would not be closed within the time parameters of the original business combination agreement (April 3, 2022). As part of the negotiation to extend the deal, the value of Circle was updated to reflect improved financial performance and the competitive position of USDC," shared a Circle spokesperson. Circle remains firm on its commitment to eventually become a publicly-traded company, and will strategize this move alongside the merger.

From allegations about bigamist bankers to bribe-taking sheikhs, former Goldman Sachs employee Roger Ng’s trial in New York over his role in Malaysia’s 1MDB scandal has offered a stream of juicy details since it began on Monday.The US District Court trial of the Malaysian national is the first foreign jury hearing centred around the now-infamous plunder of billions of dollars of state funds from the Southeast Asian country.Over the last few years, observers have closely parsed the Malaysian…

Goldman Sachs, the single-largest shareholder of ReNew Power, has pared its stake in ReNew Energy Global Power Plc, the Nasdaq-listed parent of ReNew Power, in favour of Canada Pension Plan Investment Board (CPPIB) to comply with regulatory requirements in the US, sources said.

Pioneer CEO Warns US Shale Can''t Increase Supply Even If Biden Asks Drilling economics has never been better as oil prices could soon cross the $100 a barrel mark if global supplies remain tight and demand robust, along with the prospects of Russia''s crude exports derailed by tensions with Ukraine. Even with this bullish macro backdrop, a top U.S. oil and gas exploration and production company said they wouldn''t raise oil production even if prices increased further. Pioneer CEO Scott Sheffield told analysts Thursday morning that its strategy to boost oil production from 0% to 5% won''t be affected even if oil prices surpass $100. "There''s no change for us," he said, adding, "$100 oil, $150 oil, we''re not going to change our growth rate." Sheffield said Pioneer favors stock buybacks more than acquisitions and has raised stock buyback authorization to $4 billion. He expects the company to focus on profitability, returning money to shareholders, and avoiding oversupplied conditions like the decade before.

Top bankers at Goldman Sachs knew Jho Low was involved in deals related to the 1MDB sovereign wealth fund, Tim Leissner claimed under oath.

In a virtual event hosted by Goldman Sachs in late 2020, John Foley recalled making the $1 trillion prediction to his board, according to the FT.

By Matt Scuffham NEW YORK (Reuters) - Goldman Sachs on Thursday upgraded its key profitability target and set new goals for its asset management, transaction banking and consumer businesses as it laid

Goldman Sachs Group Inc. CEO David Solomon on Thursday said Solomon said 2022 will mark a shift from low interest rates and tame inflation to tighter borrowing conditions and above-trend inflation. In its first investor day since 2020, the financial services provider boosted its 2024 financial targets. The bank now expects to book $350 billion in inflows in its asset management and wealth management by 2024, up from its earlier target of $250 billion. The firm is projecting 14% to 16% return on equity, up from its earlier target of greater than 13%. It''s projecting $225 billion in gross alternatives fundraising by 2024 and greater than $10 billion in firmwide management fees. Shares of Goldman Sachs fell 0.4%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

startup Digest brings you a recap of all the movers, shakers and headline-makers in this space.

Inflation - Cassandra Speaks Authored by Bill Blain via MorningPorridge.com, “The way to crush the bourgeoise is to grind them between the millstones of taxation and inflation.” Inflation should be front and centre for markets – give or take Ukraine, Oil, etc. How real is it, and just how bad could the consequences be? Not talking about it is one way to ensure it hurts. Contrary to expectations, World War Last didn’t break out yesterday. Either the Russians are stepping back or they are retreating in a forward direction while adding thousands of new troops… Who knows..? Who to believe? In the absence of evidence or a credible reason for Putin pressing the auto-destruct button while he’s winning, (er, yes, he probably is as the West discomboffulates around the issue, beset by leadership crises, division, energy prices and distrust), can we now look forward to Spring? And get back to worrying about real stuff. Like inflation? The news this morning is UK inflation hitting a 30-year high, home price rises in the US and UK earning more than the average working wage, and the Fed Minutes – yawn.

NEW YORK—A former top banker at Goldman Sachs testified Wednesday that he and other corrupt executives at the…

Goldman Sachs ultimately sold $US6.5 billion in bonds for Malaysia’s sovereign wealth fund and reaped $US600 million in fees.

Senior Morgan Stanley Banker Reportedly Key Player In "Block Trading" Probe When the Wall Street Journal first reported the latest leak about an SEC and DOJ investigation into an alleged "block-trading" cartel that reportedly began a few years back - either in 2018 or in 2019, depending on which report you to believe - it was only the latest leaked update about a series of seemingly related SEC probes: the investigations by turn involve hedge funds, including big-name short-sellers, and big banks (who else: Morgan Stanley and Goldman). There was talk of "short-selling cabals" and illicit "block trades" that until very recently were widely regarded by Wall Street as a acceptable part of doing business. Or at least a "grey area". Well, Bloomberg has furnished one of the latest updates on this ongoing saga, reporting early Wednesday that at least one senior Morgan Stanley executive has become enmeshed in the government''s investigation into the block trades, and more specifically, whether the bankers may have tipped certain hedge fund clients of impending block trades before they were actually brought to market.

Tim Leissner testified at the trial of a former colleague, Roger Ng, who faces bribery and money-laundering charges.