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Goldman misses earnings estimates as deals slump and consumer business hits

Goldman misses earnings estimates as deals slump and consumer business hits

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Jan 17 (Reuters) – Goldman Sachs Group Inc (GS.N) reported a bigger-than-expected 69% drop in fourth-quarter profit on Tuesday as it battled a drop in deals, lower revenue from the asset and wealth management and recognized losses in its consumer business. Wall Street banks are making drastic staff cuts and streamlining operations as trading activity, …

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S&P 500 closes at month's high, indices gain for a week as earnings kick in

S&P 500 closes at month’s high, indices gain for a week as earnings kick in

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JPMorgan and Wells Fargo shares jump US consumer inflation expectations are easing – survey Tesla drops after electric vehicle price cuts Indices: Dow up 0.3%, S&P 500 up 0.4%, Nasdaq up 0.7% NEW YORK, Jan 13 (Reuters) – The S&P 500 and Nasdaq ended Friday at their highest levels in a month as shares of …

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Goldman job cuts hit investment banking and global markets hard

Goldman job cuts hit investment banking and global markets hard

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Massive layoffs and spending review for the Wall Street giant Cups in all major divisions expected, globally Asian wealth unit restructuring kicks off Wednesday layoffs NEW YORK/LONDON/HONG KONG, Jan 12 (Reuters) – Goldman Sachs (GS.N) began laying off staff on Wednesday as part of a sweeping cost-cutting campaign, with around a third of those affected …

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Tesla sends Shanghai boss and his aides to revive US production

Tesla sends Shanghai boss and his aides to revive US production

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SHANGHAI/SAN FRANCISCO, Dec 21 (Reuters) – Chinese Tesla Inc (TSLA.O) chief Tom Zhu and a team of his reports have been brought in to resolve production issues in the United States, fueling talks between colleagues for whom he is prepared for a bigger role at a time when chief executive Elon Musk has been distracted …

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Cryptoverse: goodbye to the year that broke bitcoin

Cryptoverse: goodbye to the year that broke bitcoin

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Dec 20 (Reuters) – Bitcoin staggered into 2022. It ends the year slumped in an alley, deprived of its cocktail of cheap money and leveraged bets, shunned by the establishment. The preeminent cryptocurrency lost 60% of its value, while the broader crypto market shrank by $1.4 trillion, crushed by rising interest rates, fading appetite for …

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Goldman to cut thousands of employees as Wall Street layoffs escalate - source

Goldman to cut thousands of employees as Wall Street layoffs escalate – source

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NEW YORK, Dec 16 (Reuters) – Goldman Sachs Group Inc (GS.N) plans to cut thousands of staff to navigate a tough economic environment, a source familiar with the matter said. The layoffs are the latest sign that cuts are accelerating on Wall Street as deals dry up. Investment banking revenue has plunged this year amid …

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US SEC votes to advance stock market overhaul proposals

US SEC votes to advance stock market overhaul proposals

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NEW YORK, Dec 14 (Reuters) – The U.S. Securities and Exchange Commission voted on Wednesday to propose some of the most significant changes to the structure of the U.S. stock market in nearly two decades, aimed at bolstering transparency and transparency. equity while increasing competition for stock orders from individual investors. . Proposals include a …

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Exclusive: Goldman Sachs on the hunt for cheap crypto firms after FTX fiasco

Exclusive: Goldman Sachs on the hunt for cheap crypto firms after FTX fiasco

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LONDON, Dec 6 (Reuters) – Goldman Sachs (GS.N) plans to spend tens of millions of dollars buying or investing in crypto companies after the FTX stock market crash hit valuations and chilled the market. interest of investors. The FTX implosion has increased the need for more trusted and regulated cryptocurrency players, and big banks see …

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