Industry News
All Goldman Sachs News
Top stories summarized by our editors
Top stories summarized by our editors

"Clear signs" of deterioration among BBB-rated companies

10/8/2019

A team of analysts at Goldman Sachs says the risk of numerous US companies with BBB credit ratings being downgraded to "junk" is increasing. "Key to this view is the notable deterioration in revenue growth and profit margins ... which, in our view, raises the risk of passive re-leveraging - especially in sectors with weak pricing power," the analysts wrote.

Report: AI adoption by financial firms remains in early stages

10/8/2019

The adoption of artificial intelligence technology is still in "initial stages" for most financial firms because of a number of factors including a shortage of tech talent and privacy issues, according to a report by the International Regulatory Strategy Group. Over the past 12 months, investment banks such as Goldman Sachs, JPMorgan Chase and Morgan Stanley have been rapidly expanding their technology teams.

$386M loan covers debt for overhaul of NYC tower

10/2/2019

The DTH Capital and Rose Associates joint venture has obtained a $386 million loan from Goldman Sachs to refinance debt for redeveloping the 70 Pine Street tower in New York City. The 66-story property houses the 132-room Lyric Hotel, 612 luxury apartments and about 30,500 square feet of retail space.

"Clear signs" of deterioration among BBB-rated companies

10/1/2019

A team of analysts at Goldman Sachs says the risk of numerous US companies with BBB credit ratings being downgraded to "junk" is increasing. "Key to this view is the notable deterioration in revenue growth and profit margins ... which, in our view, raises the risk of passive re-leveraging - especially in sectors with weak pricing power," the analysts wrote.

Goldman Sachs' consumer bank in $1.3 billion deficit

9/30/2019

Goldman Sachs entered the consumer banking market in 2016 with Marcus, which has cost the bank about $1.3 billion thus far. Goldman has partnered with Apple on a credit card that could help the bank overcome some of those losses.

Survey: Hedge fund investors no longer want generalist funds

9/30/2019

Hedge fund investors largely expect fund managers to demonstrate a niche capability rather than simply pick winners and losers across the broad market, a survey by Goldman Sachs finds. Health care and emerging technology-focused funds are among the more popular specialties.

US bank execs to meet PBOC governor to pursue opportunities

9/27/2019

Executives from major US banks including JPMorgan Chase and Goldman Sachs are due to meet People's Bank of China governor Yi Gang and financial regulators in Beijing today, sources say, indicating that the banks are undeterred by the current trade dispute. China's move to open its financial sector represents an opportunity worth an estimated $9 billion in profits per year for overseas entities.