Goldman Sachs, the multinational investment banking firm launched the GS Bank. It is an FDIC-insured, online savings bank which will be a common man's bank and that means Goldman Sachs (GS) is now paving its way to be the bank for masses. The internet based bank will be available to anybody who has an internet connection and $1. That surely makes a difference from the company's minimum $10 million private wealth management accounts.
In the last five days, Pandora Media Inc. has slipped 5.52% following reports that said, the Internet radio service provider will not be in a position to compete with Swedish music streaming company Spotify. In the last twelve months Pandora has shed almost fifty percent of its value.
On Thursday, Goldman Sachs Group reported a better than expected third-quarter results.
The earnings of Goldman Sachs increased $4.57 per share to $2.24 billion. In 2013 the third quarter figure stood at $2.88 a share or $1.52 billion.
As per the expectation of the analysts the bank was to earn $3.21 a share.
Natixis, the French investment bank and the Goldman Sachs, the US financial mammoth are set to clash in a British court. This is because Natixis wants one of the credit derivatives deal that it had with Goldman get scrapped.
U.S. President, Barack Obama has urged Wall Street to back up the reforms and make the business environment more controlled. The Wall Street has been scolded for their act of blocking the reforms.
As per Goldman Sachs Group Inc, since earnings remain attractive and valuations catch up with the emerging markets average, United Arab Emirates' banks may register an increase on an average 30 percent in a year.
Goldman Sachs' analysts, led by William A. Mejia, said in an August 21 report e- mailed today, "Valuations of six out of the top seven U. A. E. banks that Goldman Sachs covers are likely to improve to 1.2 times their estimated 2010 book value from about 1 as they catch up with the peer average in Turkey, Russia and South Africa."
- Postage Prices will Decrease from Sunday; USPS not too Happy About It
- Marriott and Starwood Hotels & Resorts Worldwide Inc Shareholders Approve to $14.41 Sales Deal
- UK plan to impose additional tax on sugary drinks
- Obesity during pregnancy may increase risk of very ‘large babies’
- Dropping Sales at Gap’s Key Brands hurt the Company’s Shares