Business / Corporate Apr 14, 2020
Japan carmakers will recover fast with Honda buy rating, Goldman says
The coronavirus outbreak will reduce Japanese automakers’ combined operating profit by 38 percent this business year, but the manufacturers may rebound faster than they did after the global financial crisis more than a decade ago, according to analysts at Goldman Sachs Group. Demand could "recover ...
Business / Economy Apr 8, 2020
Japan to contract at 25% rate despite stimulus, Goldman Sachs predicts
Even with a record stimulus package, Japan’s economy is heading toward a record contraction of 25 percent this quarter after Prime Minister Shinzo Abe declared a state of emergency in Tokyo, Osaka and some other parts of the country, according to Goldman Sachs. The call ...
Business / Economy Feb 28, 2020
U.S. firms set for zero profit growth this year as virus spreads, says Goldman Sachs
U.S. companies will see profits stagnate in 2020 thanks to the spread of the coronavirus in China and beyond, Goldman Sachs said on Thursday, slashing its expectations for average corporate earnings this year. In a note to clients, the bank cut its baseline earnings per ...
Business / Financial Markets Feb 10, 2020
Goldman says Japan stock index may still be too big after re-size
by Min Jeong Lee and Shingo Kawamoto
Japan's equity market overhaul may cut the companies in the benchmark gauge by a few hundred, and that won't be enough for investors, according to Goldman Sachs Group Inc. The country's landmark revamp could reduce the number of stocks in the Topix index by about ...
Business Feb 6, 2020
Goldman Sachs poised to enter Japan wealth management business
Goldman Sachs Group Inc. plans to start offering wealth management services in Japan, a person with knowledge of the matter has said. The U.S. bank will target high net worth individuals through its asset management unit, the person said, asking not to be identified because ...
Business / Corporate Jan 27, 2020
Goldman's diversity pledge won't apply to boards in Asia
by Kiuyan Wong, Julia Fioretti and Cathy Chan
As Goldman Sachs Group Inc. moves to increase diversity on corporate boards, the investment bank isn't extending the initiative to a particularly challenged region: Asia. Chief Executive Officer David Solomon revealed last week that starting in July the bank won't handle initial public offerings for ...
Business / Corporate Jan 14, 2020
Goldman readies hiring spree and capital to meet China ambitions
by Cathy Chan
The news swept through Goldman's offices around China, changing everything. On a Friday afternoon in late 2017, an official in Beijing announced that the world's most populous nation would let Wall Street banks expand across its markets. Goldman had spent more than a decade waiting ...
Business / Corporate Nov 12, 2019
Apple under fire for new credit card's apparent unequal treatment of women
by Shahien Nasiripour, Jenny Surane and Sridhar Natarajan
Apple Inc. pitches its new card as a model of simplicity and transparency, upending everything consumers think about credit cards. But for the card's overseers at Goldman Sachs Group Inc., it is creating the same headaches that have bedeviled an industry the companies had hoped ...
Business / Corporate Nov 4, 2019
Some banks dealing with Saudi Aramco IPO say company may be worth $1.5 trillion or even less
Saudi Aramco may be worth as little as $1.5 trillion or even less, well below the target set by the kingdom, according to research sent Sunday to potential investors by the banks involved in the company's initial public offering. The research, according to multiple investors ...
Asia Pacific / Crime & Legal Oct 23, 2019
Malaysia privately discusses Goldman Sachs penalty of $2 billion over 1MDB scandal
Again and again, Malaysia has publicly demanded Goldman Sachs pay an eye-popping $7.5 billion for its role in the 1MDB scandal. But privately, Malaysian negotiators are considering settling for a fraction of that. Representatives for Malaysia have discussed figures of around $2 billion to $3 ...
Business / Economy Oct 18, 2019
Japan's Cabinet approves tougher rules on foreigners owning stocks tied to national security
According to the legislation, foreign investors will have to give advance notice when buying stakes of over 1 percent in national security-related companies, rather than 10 percent.