News 

Goldman Sachs launches a $5 billion fund with China to give US companies better access there, says CEO Lloyd Blankfein

“Lloyd Blankfein told CNBC on Thursday that Goldman Sachs’ agreement to establish a $5 billion investment vehicle with China’s sovereign wealth fund is aimed at putting money into “U.S. companies that could be helped by better access to China.”” writes Matthew J for cnbc.com. Blankfein also told CNBC it’s inevitable that the Chinese economy will be bigger than the U.S. economy based on the sheer population disparity alone.The China Investment Corporation and Goldman have pledged to split the investment, with each side putting money into the fund and each side…

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Analyst Bove tells clients to dump Goldman stock, calls for Blankfein ouster again

“Analyst Dick Bove is beating up on Goldman Sachs again, recommending that clients sell the investment banking giant’s stock and again calling for the ouster of CEO Lloyd Blankfein” writes Adam Jeffery for cnbc.com. “What is being revealed by the business model errors and the Venezuelan activities is bad judgment,” he wrote.The complaints are just the latest salvos from Bove, who sees the bank as being in need of new management.”My problem is that Goldman never understood the changes in its core businesses and, therefore, continued to pursue its traditional…

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GBP News 

Goldman Sachs CEO Sparks Fresh Fears Over London’s Financial Capital Status

“The CEO of Goldman Sachs has stoked fears that the banking giant could pull more staff out of London after he took a thinly-veiled shot at the UK over Brexit” writes Jasmin Gray for huffingtonpost.co.uk. In a rare tweet, banking boss Lloyd Blankfein sang the praises of Frankfurt – Germany’s financial centre – adding that he would be “spending a lot more time there”. Source: huffingtonpost.co.uk Share This:

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Crypto News 

Bitcoin’s rise may be like when ‘paper money displaced gold,’ says Goldman’s CEO

“In a tweet, the prominent Wall Street executive and former trader appeared to signal that the jury is still out on bitcoin, but also cautioned skeptics to consider that the rise of paper money over gold might also have fostered similar doubts from market stalwarts” writes Mark Decambre for marketwatch.com. In recent trade, a single bitcoin was down 2.3% at $4,300, but it is up about 350% so far in 2017. Source: marketwatch.com Share This:

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News Stocks 

Analyst Dick Bove calls for Blankfein ouster at Goldman as Wall Street piles on

“The company’s desire to wait for recovery in its core business and therefore make no major changes has been a critical error” writes Adam Jeffery for cnbc.com. Blankfein has held the reins at Goldman since 2006, a time during which the business has stagnated and is continuing to lose ground to its peers, said Dick Bove, vice president of equity research at Rafferty Capital Markets.That number included a 40 percent plunge in the vital fixed income, commodities and currencies business. Source: cnbc.com Share This:

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The Whole Foods CEO joked about Lloyd Blankfein right before Goldman Sachs helped Amazon buy his company

“John Mackey, the CEO and cofounder of Whole Foods, didn’t want Goldman Sachs’ help selling his company” writes Bob Bryan for businessinsider.com. Mackey had been due to give a speech at Goldman Sachs’ Manhattan office when news of Jana Partners taking an activist stake in the company hit the wire. Source: businessinsider.com Share This:

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US bank bosses succumb to email hoaxer

“A spokeswoman for Citi in New York confirmed the existence of the email exchange but declined to comment further” writes Michael Nagle for cnbc.com. The prankster then attempted to draw in Corbat and Citi’s head of global consumer banking, Stephen Bird, by masquerading as Citi’s chairman Michael O’Neill.The bosses of Wall Street banks Goldman Sachs and Citigroup are the latest executives to fall victim to an email prankster who has also managed to connect with the head of Barclays and the governor of the Bank of England. Source: cnbc.com Share This:

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Lloyd Blankfein tweeted for the first time to lament Trump pulling out of the Paris Agreement

“The Wall Street CEO, using the handle @lloydblankfein, lamented President Trump’s decision to pull out of the Paris agreement” writes Finanzen Net Gmbh for businessinsider.com. “Disappointed with today’s decision on the Paris Agreement,” Immelt said.Twenty-eight major US companies — including Apple, Gap, Facebook, Google, Microsoft, and Morgan Stanley — took out a full-page ad in The New York Times asking Trump to stay in the Paris agreement. Source: businessinsider.com Share This:

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