With mounting cost pressures, Goldman Sachs is reportedly planning to lay off roughly 4,000 employees

According to Bloomberg, citing a source familiar with the situation, Goldman Sachs Group Inc. is planning to let off about 4,000 employees.

These recent layoffs at Goldman Sachs are indicative of potential further job cutbacks across Wall Street in the coming months as businesses strugg...

DEUTSCHE BANK ASKS ITS US EMPLOYEES TO RETURN TO OFFICES BY SEPTEMBER 6

Highlights

• Companies Goldman Sachs Group Inc. and JPMorgan Chase & Co. have already asked their employees to return in coming weeks

According to Bloomberg, investment banking firm Deutsche Bank is calling back its bankers in the US to the company’s offices by ...

DIDI LIKELY TO LEAD IPO THROUGH GOLDMAN, MORGAN STANLEY

Highlights –

• Didi likely to lead IPO through Goldman, Morgan Stanley.
• China’s top ride-hailing firm is backed by SoftBank, Alibaba and Tencent.
• If Didi decides to sell 10% of its shares, itcould raise about $10 billion.
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LAXMI ORGANIC RAISES CASH FROM 15 ANCHOR INVESTORS

HIGHLIGHTS

• Laxmi Organic Industries Limited has raised Rs. 180 ten-million from 15 anchor investors a day before its Issue Opening.
• Based in Mumbai, Laxmi Organic Industries Limited manufactures specialty chemicals.

Mumbai-based spec...

GOLDMAN SACHS: BTC DESK REVIVED, PLANS ON BITCOIN ETF

Highlights:

•          Goldman Sachs will not deal with cryptocurrencies directly

•          The firm will explore the opportunities for a bitcoin ETF

With bitcoin bec...

WALMART PREPARING FOR FLIPKART’S $10 BN IPO IN THE U.S.

Highlights

• According to the reports, world’s biggest retailer is preparing for Flipkart’s $10 billion initial public offering (IPO) in the United States and has hired Goldman Sachs to assist with the listing

• After acquiring 77 percent stake in May 201...

GOLDMAN SACHS SINGAPORE LIABLE TO PAY S$165 MILLION LINKED TO 1MDB SCANDAL AS COMPENSATION

HIGHLIGHTS

• Goldman Sachs Singapore to pay Singaporean government US$122 million (S$165 million)

The move comes as the company’s involvement in bond offerings with 1MDB, the specialists said on Friday (Oct 23).

Goldman Sachs ente...

1MDB SCANDAL: GOLDMAN SACHS WILL PAY OVER $2 BILLION TO SETTLE U.S. CHARGES

Highlights

• According to the reports, Goldman Sachs Group Inc will agree to pay over $2 billion this week to settle U.S. charges over its role in Malaysia’s 1MDB corruption scandal

• Under the agreement with the U.S. Department of Justice and other regulators,...

U.S. STOCKS VOLATILE, TECH STOCKS AMONG TOP LAGGARDS

Highlights

• The Dow Jones Industrial Average index slumped 312.99 points or 1.12 percent to 27,588.99, while the S&P 500 index fell 47.64 points to 3,309

• After hitting record highs, big tech stocks like Facebook, Amazon and Apple fell sharply in recent session...

INVESTORS ARE NO MORE WORRIED AS STOCKS ARE ON A BULL RUN AMID PANDEMIC

Highlights –

• Investors are no more worried as stocks are on a bull run amid pandemic.
• Goldman Sachs, UBS Global Wealth Management and Morgan Stanley are urging clients to remain exposed to equities.
• Monetary support from the Federal ...

GOLDMAN SACHS: LABOR MARKET RECOVERY STALLS DUE TO THE WORSENING VIRUS SITUATION

Highlights

• In the states hit hardest with virus spread, workplace activity measures have declined
• Economists are now more reliant on high-frequency measures 

In May and June, record-breaking job creation appears...

FINANCE MINISTRY FORECAST INDIAN ECONOMY TO SHRINK BY 4.5 PERCENT IN FY21

Highlights

• The lockdown imposed by the government dented the economy and despite reopening policies it continues to suffer

• The Indian economy will jump immediately in the next fiscal said the macroeconomic report drafted by the finance ministry on the basis of In...

ADB PROJECTS CONTRACTION OF 4% IN THE INDIAN ECONOMY IN FY21

Highlights

• As per the report made by ADB, though the petrol prices declined in May, the food inflation went up by 7.4 percent YoY 

• ADB states that Indian economy will jump 5 percent in FY22

• On Friday, Fitch revised its outlook on IDR to nega...

INDIAN ECONOMY TO CONTRACT 3.2 PERCENT IN 2020-21: WORLD BANK

Highlights

• The World Bank said the stringent measures including the lockdown that heavily curtailed the economic activity is the primary reason for the contraction of economy

• International rating agencies including Fitch Rating, S&P Global Ratings and Moody&r...

AFTER CRISIL AND GOLDMAN SACHS, S&P SAYS INDIAN ECONOMY WILL SHRINK BY 5% IN FY21

While the world is fighting the only battle, most probably against the COVID-19, India is fighting multiple. The world’s second most populated country and one of the emerging economies, India is under lockdown since two months. The lockdown which was imposed to curtail the spread of coronav...

EX RBI GOVERNOR SAYS INDIAN ECONOMY WILL SEE A JUMP OF 5 PERCENT IN FY22

Highlights

• Former RBI Governor Duvvuri Subbarao stated that this COVID-19 pandemic is unlike natural disaster and country’s can ramp up growth as companies are still standing and transport system is in place

• Rating agency CRISIL and global investment compan...

GOLDMAN SACHS DOWNGRADES ITS OUTLOOK FOR US ECONOMIC GROWTH

Highlights

• The first-quarter GDP growth forecast was lowered to zero from 0.7%
• In the second quarter, a 5% contraction will be observed

On Sunday, for the first two quarters of 2020, Goldman Sachs downgrades its outlook for the econo...

US bank Goldman Sachs announced strongest restrictions on fossil-fuel activity

US bank Goldman Sachs announced on December 15 what many believe to be the strongest restrictions on fossil-fuel activity by any major US bank. In fact, the bank has become the first big American lender to curb spending on any aspect of the oil and gas sector, with a specific focus on protecting ...

GOLDMAN SACHS OBSERVES A FALL IN ITS PROFIT

On Wednesday, Goldman Sachs Group Inc reported a more than expected fall in the quarterly profit.

To cover legal costs for the 1MDB corruption scandal, the Wall Street bank set aside more money, overshadowing a rebound in its trading business.

In the fourth quarter, the bank s...

Is music streaming revenue growth slowing down due to Podcasts?

For the big record companies, it's been a comfortable year–but alarm bells may begin to ring in the distance.

Rolling Stone first reported in October that this year at the world's largest music rights company, Universal Music Group, streaming revenue growth is slowing down...