News 

Ted Cruz campaign failed to disclose Goldman Sachs, Citibank loans, FEC says

“Candidate loans financed by commercial lenders or a line of credit must be reported to the FEC, which regulates federal campaign activity” writes March At Pm for washingtonpost.com. Ted Cruz (R-Tex.) $35,000 for inaccurately reporting the source of more than $1 million in loans that came from Goldman Sachs and Citibank, according to records made public Friday. Source: washingtonpost.com

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News Oil 

Goldman Sachs says demand for oil is growing faster than forecast

“In China, a key engine for oil demand, oil consumption grew by 340,000 bpd in January and February, according to Goldman” reports etfdailynews.com. The strong demand will likely push Brent crude, the international benchmark for oil prices, above $70 per barrel.For the first quarter, Goldman expects global oil demand to grow by nearly 2 million bpd, trouncing its earlier forecast for 1.1 million bpd and driven by consumption in emerging markets. “We continue to believe that ongoing macro and oil demand concerns are overdone,” Goldman analysts said in a research…

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A top Goldman Sachs salestrader is leaving to take a big role at JPMorgan

“Jack Johnston, a managing director in equity sales at Goldman since 2013, is leaving for JPMorgan, where he will be a managing director and co-head the US equity salestrading business, the people said” writes Alex Morrell for businessinsider.com. It isn’t clear whether he does business for Cohen’s new fund, roughly $13 billion Point 72 Asset Management.Danielle Johnson, an managing director in the bank’s client relationship management group, was poached by Credit Suisse to co-run its Americas equities business with Paul Galieto, Bloomberg reported last Friday. Source: businessinsider.com

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Abu Dhabi state investor Mubadala halts business with Goldman Sachs amid 1MDB lawsuit

“The investment bank was hired by the Abu Dhabi government to advise a steering committee that oversaw a merger between Aldar Properties and Sorouh Real Estate in 2013” writes Midwest Communications Inc for 95kqds.com. The bank also worked on a merger valuation plan for the Abu Dhabi and Dubai bourses, in 2014, which was shelved as terms could not be agreed.DUBAI/ABU DHABI (Reuters) – Abu Dhabi state investor Mubadala has suspended any new business dealings with Goldman Sachs since its subsidiary filed a lawsuit in November against the U.S. bank…

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Large-scale solar power set for double-digit growth: Goldman Sachs

“Solar power has been booming not just because of government and corporate sustainability targets, but also thanks to a sharp drop in panel prices in recent years” writes Midwest Communications Inc for 95kqds.com. SINGAPORE (Reuters) – Utility-scale solar power capacity is expected to grow by double digits globally in 2019 and 2020, driven by expansions in the United States, Europe, Middle East and China, U.S. bank Goldman Sachs said on Thursday.Solar power is the fastest growing source of electricity generation, taking market share from fossil fuels like thermal coal and…

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News Regulators 

Fed bans two former Goldman Sachs executives from banking industry for their roles in Malaysian scandal

“The Federal Reserve on Tuesday barred two former Goldman Sachs Group executives from the banking industry for their roles in the scandal at a Malaysian investment fund” writes Senior Economics Reporter for marketwatch.com. Tim Leissner, a former Goldman partner in Asia, was one of the two executives barred by the Fed from the banking industry.Some of the money went to bribes. Source: marketwatch.com

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Tax refunds seen coming in roughly same as last year, Goldman Sachs says

“Goldman expects that around two-thirds of refunds related to the child tax credit and the Earned Income Tax Credit were made in February, he noted” writes Robert Schroeder for marketwatch.com. Read: The outrage over plunging tax refunds is premature — let’s wait for the facts Given the expected similar level of tax refunds, Phillips said, consumer spending for the first half of the year shouldn’t be meaningfully affected.Refunds totaled nearly $285 billion during the tax filing season in 2018. Source: marketwatch.com

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News 

House Intel hires former Russian mob prosecutor to lead Trump probes

“The House Intelligence Committee has hired a seasoned former Southern District of New York federal prosecutor with experience going after Russian organized crime to lead its myriad investigations into President Donald Trump” writes Andrew Desiderio for politico.com. Chairman Adam Schiff (D-Calif.) announced on Tuesday that Daniel Goldman joined the committee last month as senior adviser and director of investigations.Schiff’s committee recently re-opened its Russia investigation, which will focus on whether foreign actors have leverage over Trump, and whether Trump associates colluded with Russian operatives to interfere in the 2016 election.And…

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Markets News Stocks 

GOLDMAN SACHS: The stars have aligned for an elite group of stocks known for their super-charged returns. Here’s how you can get involved before it’s too late.

“Since 2013, the shared favorites consortium has seen an annualized return of 19%, easily outpacing hedge fund favorites (+15%), their mutual fund counterparts (+14%), and the S&P 500 (+14%)” writes Joe Ciolli for businessinsider.com. The same goes for knowing where mutual funds are putting their money.When it comes to picking stocks, it can be valuable for an investor to know which companies are the most popular with hedge funds. Source: businessinsider.com

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KKR poaches Goldman Asia investment banking head Richdale

“HONG KONG (Reuters) – KKR & Co Inc has poached Kate Richdale, Goldman Sachs Group Inc chairman of investment banking ex Japan” writes Midwest Communications Inc for 95kqds.com. Richdale will be KKR’s head of strategy and business development in the Asia-Pacific region, and will also work with KKR’s Asia investing businesses to assist with deal origination, the U.S. private equity firm said on Monday.Richdale was previously head of investment banking for Asia-Pacific at Morgan Stanley. Source: 95kqds.com

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