U.S. stocks were off session highs on Friday after a solid jobs report virtually sealed the deal for the Federal Reserve to raise interest rates next week, and potentially set the course for an aggressive tightening path this year. Data showed 235,000 jobs were added in the public and private sectors in February, far exceeding economists’ average estimate of 190,000.
Category: Consulting
A hot new hedge fund is gearing up for one of this year’s…
Brandon Haley’s Holocene Advisors is planning to launch with about $1 billion on April 3, according to people familiar with the situation. The hedge fund firm is in capital-raising mode, with Haley appearing at a Goldman Sachs emerging managers’ conference in Florida earlier this month, according to attendees.
How Customer Loyalty Programs Are Letting You Down
Companies waste billions on loyalty programs that don’t bring in new customers and leave faithful clientele in dreadful debt. But fixing loyalty programs isn’t easy.
How Customer Loyalty Programs Are Letting You Down
Companies waste billions on loyalty programs that don’t bring in new customers and leave faithful clientele in dreadful debt. But fixing loyalty programs isn’t easy.
Do Women Need Ivanka Trump to Break the Glass Ceiling?
Yesterday’s roundtable between President Trump, Canadian Prime Minister Trudeau and nine top female executives was arranged by Ivanka Trump. The first daughter is rapidly emerging as a champion for women at work, particularly those of the entrepreneurial and leadership variety.
RBS Upgraded at Deutsche as Outlook Brightens for European Financials
European banks will probably continue to struggle with the loss of investment-banking clients to the U.S., according to New York-based Goldman Sachs. Royal Bank of Scotland climbed in New York trading after Deutsche Bank upgraded the shares to hold from sell, making it the latest European lender to benefit from a boost in analyst ratings.
Wall St Slips as Investors Seek Fresh Catalysts
U.S. stocks slipped in early afternoon trading on Monday amid a lack of major catalysts, including economic data, and uncertainty over President Donald Trump’s policies. Markets rallied sharply after Trump’s election victory in November, riding on hopes that his plans including simpler regulations, higher infrastructure spending and tax cuts will boost the economy.
Liz Weston: Your mother’s maiden name is not a secret
Your mother’s maiden name is probably not a secret. Neither, necessarily, is your high school mascot or the size of your car payment.
The biggest challenge for automakers in the 21st century is to…
Coming off another record-setting US sales year , and the roll out of a host of new electric and autonomous cars at CES and the Detroit auto show, the auto industry has rarely looked better. And although Donald Trump has taken shots at car companies for contemplating new factories in Mexico, the industry overall is looking forward to what it thinks will be “pro-growth” policies under the new administration, coupled with a break on stringent EPA-mandated fuel-economy standards.
Goldman Promotes Elisha Wiesel to Chief Information Officer
Goldman Sachs Group Inc. named Elisha Wiesel, son of Holocaust survivor Elie Wiesel, chief information officer as the company fills roles created by the departure of President Gary Cohn for a job in the Trump administration. Wiesel, 44, currently chief risk officer of the securities division, will report to Martin Chavez, who was promoted from CIO to chief financial officer last month, the New York-based firm said Monday in a memo to staff.
Banks, Oil Stocks Hinder Dow’s Pursuit of 20,000
Declines in bank and energy companies weighed on Wall Street on Monday, distancing the Dow from the 20,000 mark, while gains in technology stocks pushed the Nasdaq to a record intraday high. Two-thirds of the 30 Dow components were lower, with Goldman Sachs’s 0.7 percent decline weighing the most.
Goldman’s Donovan Said to Be Top Contender for Key Treasury Post
Goldman Sachs Group Inc. banker Jim Donovan is the front-runner to be Donald Trump’s pick for undersecretary of domestic finance, a key position in the Treasury department, according to a person familiar with the decision. If chosen and confirmed Donovan would be the fourth appointee with ties to the investment bank tapped to serve in the president-elect administration, and would be responsible for coordinating policies on banking, capital markets and regulation, and managing the issuance of the country’s debt.
Deals Lawyer Said to Be a Contender to Lead SEC Under Trump
President-elect Donald Trump is considering nominating Sullivan & Cromwell partner Jay Clayton to run the Securities and Exchange Commission, potentially positioning a top lawyer to banks and hedge funds to lead Wall Street’s main regulator, said a person with knowledge of the matter. Clayton, who met with Trump last month, has represented Goldman Sachs Group Inc. and investment firms ranging from Och-Ziff Capital Management Group LLC to Oaktree Capital Group LLC, according to Sullivan & Cromwell’s website.
A Goldman You’ve Never Heard of Is Pursuing a Hong Kong IPO
Goldman is planning an initial public offering in Hong Kong–but it’s not the Goldman you’ve heard of. Goldman Faith Holdings Ltd., a local engineering subcontractor which adopted its current name less than a month ago, lodged an application to list on the main board of the Hong Kong stock exchange, according to a Dec. 19 filing.
Bed Bath & Beyond Drops After Disappointing Earnings, Forecast
Bed Bath & Beyond Inc. shares fell more than 5% in late trading Wednesday after the retail chain announced earnings and a forecast that came in lower than expectations. The company said it had net income of $126.4 million, or 85 cents a share, on sales of $2.96 billion in its fiscal third quarter, reflecting a stark decline in profit from $1.09 a share in the same period a year before.
In Potentially Risky Strategy, U.S. Startups Are Piling on Debt
His New York-based startup doubled annual revenue this year and is on track to break even in 2017. Valued at about $200 million in April, the marketing automation company counts Bain Capital and Goldman Sachs among its backers-a source of validation in the eyes of many venture investors.
These 2 Stocks Are Undeniably Cheap
With the major indexes near all-time highs and with valuations well above the historical average, cheap stocks are like needles in a haystack. Finding compelling value is much harder today than it was a few years ago, and the post-election rally hasn’t helped.