Malaysia wants $7.5B in reparations from Goldman Sachs: report

KUALA LUMPUR, Malaysia — Malaysia is seeking $7.5 billion in reparations from Goldman Sachs over its dealings with scandal-linked state fund 1MDB, the Financial Times (paywall) reported on Friday, citing the country’s finance minister. Separately, Bloomberg reported that Singapore has expanded its criminal investigation of 1MDB to include Goldman Sachs, in a sign of increasing scrutiny of the bank’s role […]

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Ex-Goldman Sachs partner still believes in cryptocurrency

Mike Novogratz, the former hedge fund manager and ex-Goldman Sachs partner, said in an interview published Tuesday that Galaxy Digital, the cryptocurrency merchant bank he founded, can break even next year even after bitcoin tumbled below $3,500. “We’re not nervous,” Novogratz told Bloomberg. “We’re frustrated that our investors have lost money. We’ve got plenty of cash to run the business […]

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Goldman Sachs is investing $20 million in $1.1 billion startup GitLab because the bank's engineers loved it so much: 'They were so happy as a customer'

Goldman Sachs has invested $20 million into the DevOps platform GitLab, adding to a Series D funding round that valued the startup at $1.1 billion. While Goldman Sachs has made strategic tech investments for around two decades, GitLab was unique because the investment was driven by the bank’s own engineering team. Goldman Sachs’s tech team started using GitLab on its […]

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Goldman Sachs is shuffling its top stock trading executives as the business tries to claw back market share from Morgan Stanley and JPMorgan

Goldman Sachs moved Tony Pasquariello, formerly its equities sales head for the Americas, into a newly created role, according to a memo from the securities division co-heads. Josh Glassman and Ronnie Wexler have been promoted to run Americas equity sales. Glassman was in talks to join Morgan Stanley earlier this year before being wooed back to Goldman. The changes come […]

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Goldman Sachs believes the US economy will slow to a crawl next year

Goldman predicts 2.5 percent and 2.2 percent growth in the first two quarters of 2019, respectively, but then just 1.8 percent and 1.6 percent real GDP growth in the final two quarters. “We expect tighter financial conditions and a fading fiscal stimulus to be the key drivers of the deceleration,” wrote the bank’s chief economist, Jan Hatzius. But Goldman believes […]

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Goldman Sachs says the stock market isn't buying official growth trends

Stocks have sold off steeply in recent weeks as investors fret over growth and company profits. Goldman Sachs has said the selling implies a bigger slowdown in growth is coming than official data suggests. Goldman’s bear market indicator is at a rare 73 percent, its highest level since the late 1960s and early 1970s. Goldman Sachs told CNBC Friday the […]

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