News
GS-PRN
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PRESS DIGEST-British Business - March 29
The Independent will take control of BuzzFeed and HuffPost in the UK and Ireland. Sellafield Ltd is being prosecuted over allegations of IT security offences. British broadcaster BBC will launch TikTok-style short-form videos to win young audiences. European arm of the Japanese clothing and homeware retailer Muji to appoint administrators.
Reuters · 6h ago
Goldman, Morgan Stanley win dismissal of lawsuits over Archegos collapse
Investors accused Goldman Sachs Group and Morgan Stanley of misconduct in collapse of $36 billion firm. Investors sought to hold banks liable for selling stocks of Bill Hwang's firm Archegos Capital Management. Judge dismisses investors' market manipulation and insider trading claims with prejudice. A different judge had dismissed the lawsuits last March. Goldman, Morgan Stanley win dismissal of lawsuits over the collapse.
Reuters · 9h ago
Column: Conservative appeals court will probe certification of Anadarko investors’ class action
Federal appeals court will probe certification of Anadarko investors’ class action. Alison Frankel: The Supreme Court's ruling on Goldman Sachs case is more perilous for shareholders. She says a class of shareholders allege Anadarkso covered up disappointing drilling results in a Gulf of Mexico field. Frankel says the company's lawyers are hoping the court will overturn the class action's certification.
Reuters · 10h ago
Theater chain AMC to sell up to $250 mln worth of stock to boost liquidity
Theater chain AMC to sell up to $250 mln worth of stock to boost liquidity. Shares of the Leawood, Kansas-based company were down more than 11% in early trading. AMC will also use the proceeds to pay down its debt. The company posted a bigger-than-expected loss for the fourth quarter.
Reuters · 17h ago
MOVES-Goldman Sachs names Paul Deighton as chair of international unit
Paul Deighton is returning to the Wall Street bank after 22 years in various roles. He will replace Bradley Fried as chair of Goldman Sachs international unit. Deighton previously served as EMEA chief operating officer at the bank. He currently serves as executive chair of The Economist Group.
Reuters · 17h ago
BREAKINGVIEWS-Sergio Ermotti has a path to Wall Street-style pay
UBS chief executive Sergio Ermotti earned 14.4 million Swiss francs for months’ work last year. That makes him the best-paid European bank boss. But his pay is less than the bosses of U.S. Lenders like Morgan Stanley. He has a chance to close the gap with his European rivals.
Reuters · 18h ago
Oakley Capital considers sale of Ocean Technologies Group, sources say
Oakley Capital considers sale of Norwegian maritime training software company Ocean Technologies Group, sources say. The London-based private equity firm has hired advisers to gauge interest in the business. Oakley Capital is planning an auction for the business over the summer, sources said. Ocean Technologies group could be worth more than $1 billion, sources says.
Reuters · 20h ago
UPDATE 1-JPMorgan appoints Rita Chan, Alan Ho as China co-senior country officers
JPMorgan appoints Rita Chan and Alan Ho as co-senior country officers for China. The pair will take up their appointments on April 1 and replace the retiring Mark Leung. Chan joined JPMorgan in 2020 from Goldman Sachs. Ho has been with the bank for two decades.
Reuters · 1d ago
MOVES-Santander Bank names former Goldman exec as US retail banking head
Swati Bhatia most recently led Goldman's direct-to-consumer Marcus business. She is expected to focus on building capabilities, simplifying processes and lowering costs at the bank. Santander Bank appoints former Goldman Sachs exec as head of retail banking in the United States.
Reuters · 1d ago
Britain's Marex Group reports 75% surge in annual revenue in US IPO filing
Britain's Marex Group reports 75% surge in annual revenue in US IPO filing. The commodities broker confidentially filed to list in New York in December last year. The London-based company said revenue for the year ended Dec 31, 2023 rose to $1.24 billion.
Reuters · 2d ago
BUZZ-Terreno Realty dips after upsized stock offering priced
Terreno Realty's shares down 1.5% at $63 before the bell as co raises equity. Industrial property REIT announced 5.5 mln shares priced at $62 for $341 mln gross raise. Co to use proceeds for future acquisitions.
Reuters · 2d ago
HEDGE FLOW-Hedge funds flock to Europe, ditch US stocks
Global hedge funds have been adding European stocks to their portfolios this year. Europe's STOXX 600 is up 6.5% this year, still lagging the S&P 500. Hedge funds are mostly adding long positions to Europe, betting shares will rise. Many believe U.S. Stocks are expensive compared to European peers.
Reuters · 3d ago
MEDIA-Goldman Sachs mulls 3.5 bln euro sale of B&B Hotels chain - Bloomberg News
Reuters · 3d ago
Power Up: Ukraine targets Russian refineries
Ukraine targets Russian refineries to try to reduce Moscow's energy exports. Goldman Sachs says commodities will be in good shape for 2024. Ukraine has stepped up attacks on Russian energy facilities in the last several weeks. The Russia-Ukraine energy war is part of a larger war between the two countries.
Reuters · 3d ago
GLOBAL MARKETS-Stocks flat, oil climbs as dollar cornered by yen and yuan
Global stock markets take a breather from record highs of recent days. Japan's Nikkei dips, S&P 500 futures flat, dollar falls to 32-year low. U.S. And European inflation data loom in shortened trading week due to Easter holiday. The yen and yuan are under pressure as the dollar is cornered by yen and China's yuan. Brent oil prices hover close to $86 a barrel.
Reuters · 3d ago
GLOBAL MARKETS-Stocks on inflation stand-by as intervention watch dogs yen
U.S. And European inflation data loom in shortened holiday week. Nikkei dips, S&P 500 futures flat as dollar eases on threat of intervention from Japan. Japan's top currency diplomat says yen weakness reflects fundamentals. MSCI All Country stock index holds steady after hitting lifetime highs last week.
Reuters · 3d ago
Goldman Sachs retains bullish view for commodities in 2024
Goldman Sachs retains bullish view to go long on commodities in 2024. The bank forecast a return of 20% in select sectors such as energy and industrial metals ex- and zinc. Bank says cyclical and structural support to demand and geopolitical risks are supporting commodities. Goldman Sachs took a bearish view for commodities such as U.S. Gas, lithium, and zinc in the year to 2024.
Reuters · 3d ago
UPDATE 1-Goldman Sachs lifts STOXX 600 annual target to 540
Goldman Sachs lifts its 2024 year-end target for Europe's STOXX 600 index to 540 from 510. Brokerage's target implied a 6% upside from Friday's close of 509.64. Goldman cites potential improvement in economic growth and monetary policy easing across central banks.
Reuters · 3d ago
RPT-ANALYSIS-Europe's IPO market hits bump but recovery still on course, bankers say
Strong debut by Swiss skincare company Galderma on Friday is steadying Europe's IPO market. A day after a poorly received listing from German retailer Douglas. Global IPO issues fell in 2023 for second year. European IPOs scheduled for post-Easter listing window. Private equity holding $3.2 trillion in unsold assets.
Reuters · 3d ago
RPT-Wall St Week Ahead-Broadening US market rally gets boost from dovish Fed
Broadening US market rally gets boost from dovish Fed signals. Financials, industrials and energy sectors are outperforming the S&P 500 year-to-date gain. The Fed's confidence in tamping down inflation and cutting interest rates is encouraging investors to look beyond tech and growth stocks. The broadening rally contrasts with last year's focus on the Magnificent Seven group of stocks.
Reuters · 4d ago
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About GS-PRN
The Goldman Sachs Group, Inc. is an investment banking, securities and investment management company that provides a range of financial services to corporations, financial institutions, governments and individuals. The Company operates in four business segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Investment Banking segment consists of financial advisory and underwriting. The Institutional Client Services segment makes markets and facilitates client transactions in fixed income, equity, currency and commodity products. The investing and lending activities, which are typically longer-term, include its investing and relationship lending activities across various asset classes, primarily debt securities and loans, public and private equity securities, infrastructure and real estate. The Investment Management segment provides investment and wealth advisory services. As of December 2016, it had offices in over 30 countries.