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Goldman warns machines will ugly up the next selloff — but here’s your silver lining

“The danger is once HFTs start pulling liquidity out of the market, others follow, and then it gets ugly” writes Markets Reporter for marketwatch.com. Not a bad time, then, to take a look at whether the market’s itchy finger is jerked by emotion or machines.And as Goldman points out, it’s not clear who will step into provide liquidity when the market needs it most. (Certainly, central banks seem less keen, these days.) Is there a silver lining?.  Source: marketwatch.com Share This:

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Goldman: Don’t worry about rising interest rates until the 10-year yield hits 4%

“U.S. interest rates have shot up to levels not seen in years recently, giving stock investors a new concern” writes Scott Eells for cnbc.com. “A rise in interest rates should lead to a fall in equity prices, all else equal.”However, lower equity prices are not an inevitable consequence of higher interest rates. He also said stock prices could take a hit before that level is reached if rates rise too rapidly. Source: cnbc.com Share This:

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Goldman, World Bank fund for women entrepreneurs hits $1 billion in investments

“This has resulted in a $1.5 trillion credit deficit for women entrepreneurs in emerging markets” reports businessinsider.com. The Women Entrepreneurs Opportunity Facility, launched in 2014 by Goldman and the World Bank’s International Finance Corp private-sector development arm, had initially set a goal of providing capital to 100,000 women entrepreneurs over 10 years, but has reached 50,000 in just four years.The institutions said $1 billion in investments were made in 26 financial intermediaries in 26 countries, including some of the world’s poorest and most conflict-affected states.The World Bank Group estimates that…

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Goldman Sachs: Tesla may need to raise $10 billion in 2 years to keep going

“Electric car company Tesla may require as much as $10 billion in additional capital by 2020 to fund the company’s operations, according to Goldman Sachs” writes Source Tesla for cnbc.com. Asked earlier this month if he’s mulling a capital raise, Musk simply said “no.”. Issuing additional debt could weigh on the company’s credit profile, while supplying more stock or convertible bonds would dilute current shareholders.”We see several options available to the company to refinance maturing debt and raise incremental funds, which should allow Tesla to fund its growth targets.”. Despite…

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Goldman Sachs just handed its securities division over to one of its youngest ever partners

“Isabelle Ealet and Pablo Salame, coheads of Goldman Sachs’ powerful securities business, are retiring in June, according to a memo seen by Business Insider” writes Matt Turner for businessinsider.com. Varadhan himself had been the most recent addition to the triumvirate at the top of the securities business, becoming cohead of securities in 2014 alongside Salame and Ealet.That leaves Ashok Varadhan, who had been cohead, as sole head of the bank’s trading businesses.In that role, he will work with Jim Esposito and Justin Gmelich, co-chief operating officers of the fixed income,…

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Apple To Launch Apple Pay-Branded Credit Card In Early 2019

“According to The Wall Street Journal, Apple is currently in the process of partnering with Goldman Sachs with the aim of introducing an Apple Pay-branded credit card in early 2019” writes Oliver Haslam for redmondpie.com. The Cupertino-based company already partners with one of the world’s largest financial institutions, Barclays, to provide an Apple-branded Rewards credit card which works directly with Apple Pay – as you’d expect.It’s presumed that any provided card would have Apple’s branding and the Apple Pay branding slapped all over it to ensure that it’s immediately known…

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Data Sheet—Apple and Goldman Sachs Make an Unlikely Team

“Thursday The Wall Street Journal published an impressively comprehensive article detailing an imminent tie-up on credit cards, of all things, between Apple and blue-chip investment bank Goldman Sachs” writes Aaron Pressman for fortune.com. Services, as opposed to devices or software, increasingly are becoming a larger percentage of the consumer technology giant’s revenues.When Apple reported better-than-expected earnings recently, reinvention was the key.Apple Pay is leap-ahead technology that turns a phone into a credit card. Source: fortune.com Share This:

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Report: Apple and Goldman Sachs are launching a joint credit card

“According to the Wall Street Journal, Goldman is reportedly in talks with Apple to jointly launch a credit card” reports fastcompany.com. In addition, Fast Company reported in January that Goldman had quietly purchased Final, a credit card startup.Goldman has been moving aggressively to expand its foothold in consumer finance since launching Marcus in the fall of 2016.Back in 2016, as Goldman Sachs was preparing to launch its consumer-facing brand Marcus, senior executive Stephen Scherr told me that the bank did not “have the ambition” to get into the credit card business.The proposed…

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Apple will reportedly launch a credit card with Goldman Sachs

“The move comes just months after Goldman Sachs acquired the team behind Final, a credit card startup, a signal that it was ready to become a serious player in the credit card industry” writes May Edt for theverge.com. The new credit card — which marks the end of Apple’s credit card partnership with Barclays — would use the Apple Pay branding, and it’s expected to be released early next year.Apple is preparing to release a credit card in partnership with investment bank Goldman Sachs, according to a new report from…

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