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Goldman backs commodities as investors shrug off trade war shots

SINGAPORE: Commodity bull Goldman Sachs Group Inc. says raw materials are poised to gain into the end of the year as investors have now become used to trade-war tensions, growth in major economies remains strong, and consumers who’d put off purchases in recent months start buying again.

Hedge fund veteran shuns volatility wagers

Stephen Diggle does not see wild fluctuations happening anytime soon

Goldman Sachs doesn't share Wall Street fears of 2020 recession

LONDON: Goldman Sachs Group Inc economists are proving more relaxed than Wall Street rivals about the risks of a US recession come 2020.

“There has been increasing investor interest in the chance of a recession in the US over the next few years,” Goldman Sachs economists led by Jan Hatzius said in a report published on Sunday.  “Our model paints a more benign picture.”

Copper wilts as trade war angst spurs fresh losses for metals

SHANGHAI: Industrial metals including copper opened the week with steep losses on concern the US-China trade war is set to get much worse, with President Donald Trump prepared to hit the mainland with another round of levies, damping prospects for demand in the world’s largest consumer.

Rates mantle passes to S. Africa

This comes as central banks fight emerging market bears

Deutsche Bank executive's 1MDB role being probed, says report

SINGAPORE (Bloomberg): Singapore authorities probing the multi-billion dollar 1MDB scandal are looking at the role of an outgoing senior Deutsche Bank AG executive as part of their investigations, according to people with knowledge of the matter.

Filipinos out to rescue peso

MANILA: The embattled Philippine peso needs a break and it may soon get one.

Low peso: A man counting peso bills inside a store in Manila recently. The peso has sunk to a 2005-low this month. — Bloomberg

Lehman's carcass has handed huge profits to distressed funds

NEW YORK: It was a bold move: buy at Lehman Brothers’s darkest hour. But a decade after Lehman’s collapse, a handful of hedge funds that bought up the bank’s debt for pennies on the dollar have made even more money than seemed possible.

More than US$124.6bil has flowed to Lehman creditors, and a further US$1.4bil may yet be coming. At least US$92.2bil has gone to those last in line: unsecured creditors. Some of the largest and earliest buyers, according to people familiar with the case, were distressed debt hedge funds Elliott Management Corp, Paulson & Co, Baupost Group LLC, and Varde Partners.

Economists bullish on global growth

LONDON: Wall Street economists are sticking with their forecasts for the global economy to enjoy its strongest growth since the start of the decade even as emerging markets wobble and trade wars escalate.

While global growth is tracking above trend and in line with the forecasts in our mid-year outlook, the underlying tensions in the global economy have risen, adding to investors’ worries about the cycle, says Morgan Stanley

China Renaissance seeks US$377mil in Hong Kong IPO

Firm to use 40% of proceeds to expand investment bank operations

Fan Bao, founder, Chairman and CEO of China Renaissance Group, an investment bank led by one of the country’s most famed rainmakers, holds a news conference on its IPO in Hong Kong, China yesterday. - Reuters