Exclusive: Goldman Sachs on hunt for bargain crypto firms after FTX fiasco

Exclusive: Goldman Sachs on hunt for bargain crypto firms after FTX fiasco

LONDON, Dec 6 (Reuters) – Goldman Sachs (GS.N) plans to spend tens of millions of dollars to buy or invest in crypto companies after the collapse of the FTX exchange hit valuations and dampened investor interest. FTX’s implosion has heightened the need for more trustworthy, regulated cryptocurrency players, and big banks see an opportunity to … Read more

BIS warns of $80 trillion of hidden FX swap debt

BIS warns of  trillion of hidden FX swap debt

LONDON, Dec 5 (Reuters) – The Bank for International Settlements (BIS) has warned that pension funds and other ‘non-bank’ financial firms now have more than $80 trillion of hidden, off-balance sheet dollar debt in the form of FX swaps. Dubbed the central bank to the world’s central banks, the BIS raised the concerns in its … Read more

Banking giants and New York Fed start 12-week digital dollar pilot

Banking giants and New York Fed start 12-week digital dollar pilot

NEW YORK, Nov 15 (Reuters) – Global banking giants are starting a 12-week digital dollar pilot with the Federal Reserve Bank of New York, the participants announced on Tuesday. Citigroup Inc , HSBC Holdings Plc (HSBA.L), Mastercard Inc (MA.N) and Wells Fargo & Co (WFC.N) are among the financial companies participating in the experiment alongside … Read more

Musk sells Tesla shares worth $3.95 bln days after Twitter takeover

Musk sells Tesla shares worth .95 bln days after Twitter takeover

Nov 8 (Reuters) – Tesla Inc (TSLA.O) Chief Executive Officer Elon Musk has sold 19.5 million shares of the electric vehicle maker worth $3.95 billion on Tuesday, according to U.S. securities filings, days after he completed the $44 billion takeover of Twitter Inc. Musk, the world’s richest man, had about $20 billion in cash after … Read more

Banks forced to hold on to Twitter deal debt, sources say

Banks forced to hold on to Twitter deal debt, sources say

NEW YORK, Oct 21 (Reuters) – The banks providing $13 billion in financing for Tesla CEO Elon Musk’s acquisition of Twitter Inc (TWTR.N) have abandoned plans to sell the debt to investors because of uncertainty around the social media company’s fortunes and losses, people familiar with the matter said. The banks are not planning to … Read more

Goldman plans major reorganization to combine key units -source

Goldman plans major reorganization to combine key units -source

LONDON/NEW YORK, Oct 16 (Reuters) – Goldman Sachs (GS.N) is planning a major reorganization to combine its biggest businesses into three divisions with its investment banking and trading businesses being merged into a single unit, a source familiar with the matter told Reuters. The plans are expected to be announced on Oct. 18 alongside Goldman’s … Read more

Goldman Sachs sees deeper UK recession after tax U-turn

Goldman Sachs sees deeper UK recession after tax U-turn

Oct 17 (Reuters) – Goldman Sachs has downgraded Britain’s economic outlook and warned of a deeper recession next year after Prime Minister Liz Truss last week removed Kwasi Kwarteng as chancellor and scrapped parts of their unpopular economic package. The Wall Street bank revised its 2023 UK economic output forecast to a 1% contraction from … Read more

New UK finance minister Hunt reverses tax plan, reins in energy support

New UK finance minister Hunt reverses tax plan, reins in energy support

Hunt to rein in energy support Hunt reverses nearly all of Truss’s tax-cutting plan Announcement is two weeks earlier than scheduled Sterling rises against dollar Bond prices rally in early London trade LONDON, Oct 17 (Reuters) – New British finance minister Jeremy Hunt on Monday reversed nearly all of Prime Minister Liz Truss’s mini-budget that … Read more

Wall Street banks’ profits slide as economic clouds loom, some beat forecasts

Wall Street banks’ profits slide as economic clouds loom, some beat forecasts

Oct 14 (Reuters) – Profits slid at Wall Street’s biggest banks in the third quarter as they braced for a weaker economy while investment banking was hit hard, but investors saw a silver lining with some banks beating estimates. JPMorgan Chase & Co (JPM.N), Morgan Stanley (MS.N), Citigroup Inc (C.N) and Wells Fargo & Co’s … Read more

Stocks ease as Ukraine attacks and rate outlook spark flight to havens

Stocks ease as Ukraine attacks and rate outlook spark flight to havens

MSCI global index drops for a fourth day Russian bombings across Ukraine fuel nervousness Markets braced for high core U.S. CPI, earnings season LONDON, Oct 10 (Reuters) – Global shares dropped on Monday after Russian missiles pounded cities across Ukraine and as renewed concern about the economic outlook sent investors into safe-haven assets such as … Read more