It is a daily ritual for millions of Australians, but if you have noticed the price of your morning flat white or soy latte increase, brace yourself — it is likely to get worse.
By the end of the year,...
It is a daily ritual for millions of Australians, but if you have noticed the price of your morning flat white or soy latte increase, brace yourself — it is likely to get worse.
By the end of the year,...
The stock market is expected to gain 2% by year-end, as earnings reports show strong revenue and earnings beats. Companies are managing inflation by passing on limited price increases and maintaining margins. Interest rate concerns have subsided, and earnings growth is now the focus. While earnings growth projections are low, they could be exceeded, potentially boosting the market further. Companies are also considering altering service terms instead of raising prices to maintain market share.
Goldman Sachs has bounced back after a rough year, thanks to a focus on its core banking and trading operations. They've shed some consumer businesses that were costing them money. The bank's CEO has been praised for making these changes. Other banks like Morgan Stanley are also expected to do well, driven by the strength in the stock market. However, banks as a whole may struggle with lower interest rates.
Goldman Sachs' first-quarter results exceeded expectations, driven by a surge in trading and investment banking revenue. Fixed income and equities trading, as well as fees from debt and equity underwriting, all increased significantly. The bank's asset and wealth management division saw solid growth, although it slightly missed expectations. Goldman remains heavily reliant on Wall Street activities for revenue, but its emphasis on asset and wealth management is a key area for future growth.
Goldman Sachs is promoting Carey Halio, its head of strategy and investor relations, to global treasurer. Effective June 1st, Halio will be responsible for managing the bank's over $1.6 trillion balance sheet. She will report to CFO Denis Coleman and oversee a team of 900. Philip Berlinski, the current global treasurer, is leaving to become co-COO of Millennium Management.
Goldman Sachs and Mubadala have partnered to invest $1 billion in the Asia-Pacific region, targeting private credit opportunities. The strategic partnership leverages Goldman Sachs' expertise and Mubadala's capital to explore growth potential in India, the fastest-growing G20 economy. This move aligns with the UAE's increased economic engagement with India and Mubadala's focus on diversifying its portfolio.
