Business Wall Street bank Goldman Sachs Group Inc is combining its private-investing arms, with the resulting new division to have about US$140 billion in assets, the Wall Street Journal reported on Sunday, citing people familiar with the matter. 17 Jun 2019 04:55AM Bookmark REUTERS: Wall Street bank Goldman Sachs Group Inc is combining its private-investing arms, with the resulting new division to have about US$140 billion in assets, the Wall Street Journal reported on Sunday, citing people familiar with the matter.The bank is looking to combine four different units that invest in private companies, real estate and other hard-to-access deals, according to the report.Goldman Sachs did not respond to a Reuters request for comment on Sunday.(Reporting by Kanishka Singh in Bengaluru; Editing by Sonya Hepinstall) … [Read more...] about Goldman Sachs combining its private-investing units: WSJ
Investment bank goldman sachs
China talks end without a deal, Trump says no hurry to sign
WASHINGTON/BEIJING (REUTERS) - US President Donald Trump on Friday (May 10) said he was in no hurry to sign a trade deal with China as Washington imposed a new set of tariffs on Chinese goods and negotiators ended a second day of talks to try to salvage an agreement. The United States early on Friday increased its tariffs on US$200 billion in Chinese goods to 25 per cent from 10 per cent, rattling financial markets already worried the 10-month trade war between the world's two largest economies could spiral out of control. China is expected to retaliate. The tariffs went into effect just hours before US Trade Representative Robert Lighthizer, US Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He held a second day of talks in Washington. The session broke up after about 90 minutes. "They were constructive discussions. That's all I can say,"Mnuchin told reporters as he left Lighthizer's offices near midday. In a series of morning tweets, Trump defended the tariff hike and … [Read more...] about China talks end without a deal, Trump says no hurry to sign
Ex-Goldman Sachs banker Ng pleads not guilty to 1MDB charges
NEW YORK: Former Goldman Sachs Group Inc banker Roger Ng pleaded not guilty to criminal charges linked to a multibillion-dollar scandal at the Malaysian state investment fund 1MDB in an appearance at federal court in New York on Monday (May 6).The US Department of Justice accused 46-year-old Ng last year of conspiring to launder money and bribe government officials in Malaysia and Abu Dhabi through bond offerings that Goldman Sachs handled. He was extradited on May 3 to New York from Kuala Lumpur, where he had been jailed since November.US Magistrate Judge Peggy Kuo, of US District Court in Brooklyn, New York, allowed Ng, a Philippines citizen, to be released in exchange for a US$20 million bond. He was fitted for an ankle bracelet, and will be staying at an undisclosed location in the New York City area that the court approved.His lawyer, Marc Agnifilo, said he convinced Ng to "come to the US and face the music" because it was evident that prosecutors were not … [Read more...] about Ex-Goldman Sachs banker Ng pleads not guilty to 1MDB charges
Malaysia hands over ex-Goldman Sachs banker Roger Ng to the US
KUALA LUMPUR - Malaysia has quietly handed over former Goldman Sachs investment banker Roger Ng to the US Department of Justice (DOJ) following secret negotiations that began early this year. Two senior executives familiar with the negotiations told The Straits Times that Ng, who has been in custody in a Malaysian jail since November, was handed over to US government officials over the weekend and is expected to arrive in New York on Monday (May 6). The 47-year-old Ng, who left the investment bank and financial services company in 2014, was slapped by a provisional warrant of arrest in late October by the DOJ, which had sought Malaysia's help to locate him. The former Goldman Sachs banker was arrested by the Malaysians in November and subsequently charged in a Malaysian sessions court with four counts of abetting Goldman Sachs in selling US$6 billion (S$8.2 billion) of guaranteed notes and bonds issued by state fund 1MDB and its subsidiaries by omitting material information and … [Read more...] about Malaysia hands over ex-Goldman Sachs banker Roger Ng to the US
European regulators fear Deutsche Bank US stress test failure: source
FRANKFURT: Deutsche Bank is in danger of failing U.S. stress tests, a European bank supervisor told Reuters, adding to pressure on Germany's biggest lender to make changes to its investment bank after failed merger talks with Commerzbank.European Central Bank regulators are concerned that Deutsche Bank's standing has weakened since it flunked U.S. stress tests in 2015, 2016 and 2018 and a repeat would cause a bigger dent in confidence among customers and business partners.The Federal Reserve, which will complete its examination of Deutsche Bank's U.S. operations in the coming weeks, could also impose conditions curbing its Wall Street investment bank, further undermining its earning power, the official said.A spokesman said Deutsche Bank had "invested heavily to ensure that the bank meets regulators' demands and has made significant progress". The Federal Reserve, which is expected to announce the results by July, and the ECB declined to comment.While Deutsche Bank had made significant … [Read more...] about European regulators fear Deutsche Bank US stress test failure: source