Latest Goldman Sachs Group Inc News

Bank CEOs tell Congress they'll work to avoid foreclosures

May. 27, 2021 17:22 PM EDT

WASHINGTON (AP) — The chief executives of the nation’s largest banks went in front of Congress for a second day Thursday, facing questions ranging from inflation to their efforts to keep Americans in their homes after government aid to pandemic-hit mortgage holders expires this summer. ...

Downtown stores, businesses await their customers' return

May. 17, 2021 08:36 AM EDT

NEW YORK (AP) — In many downtown areas where companies closed their offices and commuting ground to a halt, sandwich shops, bakeries and other small businesses are waiting with guarded optimism for their customers to return. Teresa Ging could count on a steady stream...

A philanthropic drive to aid Black women is gaining momentum

Apr. 22, 2021 11:20 AM EDT

The needs of Black women and girls have become a focus of philanthropic efforts as major donors seek to narrow a racial wealth gap and address chronic funding disparities for groups that serve minority women. This week's guilty verdicts for Derek Chauvin, the former...

A year after stocks soared, CEOs must show it was warranted

Apr. 15, 2021 12:36 PM EDT

NEW YORK (AP) — It's time to show the receipts, CEOs. For more than a year, investors have been pushing up stock prices, even though the pandemic caused profits to crater for companies. With COVID-19 vaccines going into arms and businesses reopening, investors want to...

Citigroup profit triples in 1Q, tops estimates; revenue down

Apr. 15, 2021 09:51 AM EDT

NEW YORK (AP) — Citigroup's profits more than tripled in the first quarter, the banking conglomerate said Thursday, helped by the release of billions of dollars from its loan-loss reserves. The bank also announced plans to scale back its global consumer banking franchise outside the U.S. ...

Bank of America profit doubles in 1Q to $8.1 billion

Apr. 15, 2021 07:49 AM EDT

NEW YORK (AP) — Bank of America's profits doubled in the first quarter, the bank said Thursday, as the improving economy allowed it to release billions from its loan-loss reserves that it originally set aside in the early days of the pandemic. Bank of America is the...

Asian stock markets mixed after Wall St retreats from record

Apr. 14, 2021 23:29 PM EDT

BEIJING (AP) — Asian stock markets were mixed Thursday after Wall Street retreated from a record high as major banks reported strong profits at the start of the U.S. earnings season. Shanghai, Hong Kong and Sydney declined while Tokyo and Seoul advanced. ...

Moderna, Valero rise; Stitch Fix, Discovery fall

Apr. 14, 2021 17:02 PM EDT

NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Wednesday: SAP SE, up $1.54 to $135.97. The software company raised its financial forecast for the year on the strength of its cloud computing business. ...

Profits at Goldman Sachs surge in 1Q, helped by trading

Apr. 14, 2021 09:57 AM EDT

NEW YORK (AP) — Investment bank Goldman Sachs saw its profits nearly quintuple in the first quarter, driven by a massive surge of revenue from its core investment banking and trading operations. The jump in profits is similar to that seen at JPMorgan Chase, which also...

Stock trading app company Robinhood files plan to go public

Mar. 23, 2021 19:20 PM EDT

CHARLOTTE, N.C. (AP) — Stock trading app company Robinhood said Tuesday that it has submitted a confidential plan to go public later this year. The company based in Menlo Park, California, filed the paperwork with the Securities and Exchange Commission while at the...