Latest Goldman Sachs Group Inc News

Asian shares rise after Wall Street gain on solid earnings

Oct. 15, 2019 10:43 PM EDT

TOKYO (AP) — Asian shares were higher Wednesday after a gain on Wall Street boosted by healthy earnings reports from U.S. companies. Japan's benchmark Nikkei 225 rose 1.6% in morning trading to 22,554.05, while Australia's S&P/ASX 200 gained 1.0% to 6,720.10, while South Korea's Kospi added 0.6% to...

Markets Right Now: Solid earnings send stocks higher

Oct. 15, 2019 4:05 PM EDT

NEW YORK (AP) — The latest on developments in financial markets (all times local): 4 p.m. Stocks notched solid gains on Wall Street as investors welcomed surprisingly good quarterly results from some of the nation's biggest companies. Strong earnings from UnitedHealth Group, JPMorgan Chase and other...

JPMorgan Chase 3Q profits up 8% but loan growth slows

Oct. 15, 2019 2:29 PM EDT

NEW YORK (AP) — JPMorgan's third-quarter profit grew 8% thanks to higher interest rates and strong performance at its investment banking business. Recent upticks in yields in the U.S. bond market have allowed banks to charge higher interest rates on their loans, particularly at JPMorgan with its large...

Goldman Sachs 3Q profit falls 26%, short of expectations

Oct. 15, 2019 8:17 AM EDT

NEW YORK (AP) — Goldman Sachs had a 26% decline in third quarter profits, the bank said Tuesday, as Goldman took losses on some of its public investments and struggled to drum up enough advisory business. The New York-based bank on Tuesday reported a profit of $1.88 billion, or $4.79 a share, down from...

Wells Fargo hires New York Mellon's Scharf as its new CEO

Sep. 27, 2019 3:40 PM EDT

NEW YORK (AP) — Wells Fargo named its third CEO in as many years as it attempts to move on from a series of scandals. The bank said Friday that Charles Scharf, chief executive of the Bank of New York Mellon, will take over for C. Allen Parker, who has led Wells Fargo since March. Parker will remain in...

Asian shares mixed following Fed's decision to cut rates

Sep. 19, 2019 12:02 AM EDT

BANGKOK (AP) — Shares were mixed in Asia on Thursday, with Tokyo and Sydney logging modest gains after the Federal Reserve cut its benchmark interest rate for a second time this year, citing slowing global economic growth and uncertainty over U.S. trade conflicts. Japan's central bank opted to keep its own...

A slowdown in US business formation poses a risk to economy

Sep. 5, 2019 3:21 PM EDT

WASHINGTON (AP) — Despite a decade-plus of economic growth, Americans have slowed the pace at which they're forming new companies, a trend that risks further widening the gap between the most affluent and everyone else. The longest expansion on record, which began in mid-2009, has failed to restore...

A slowdown in US business formation poses a risk to economy

Sep. 5, 2019 12:21 PM EDT

WASHINGTON (AP) — Despite a decade-plus of economic growth, Americans have slowed the pace at which they're forming new companies, a trend that risks further widening the gap between the most affluent and everyone else. The longest expansion on record, which began in mid-2009, has failed to restore...

Starbucks shares fall as company cuts profit growth forecast

Sep. 4, 2019 10:37 AM EDT

NEW YORK (AP) — Starbucks shares tumbled Wednesday after the company lowered its 2020 earnings forecast. In a presentation to Goldman Sachs' Global Retaining Conference, the Seattle-based coffee giant said it expects adjusted earnings to grow less than 10% in its 2020 fiscal year, which begins Oct. 1. Its...

Is Trump's economic team up for a trade war?

Aug. 24, 2019 12:03 AM EDT

WASHINGTON (AP) — Facing a trade war against China that has shaken the global economy, President Donald Trump gathered his most trusted economic aides in the Oval Office. The assembled brain trust for Friday's urgent consultations included an economics chief best known for his stint as a cable TV...