TOPIC

/ company

Goldman Sachs

Goldman Sachs is a New York-based investment banking firm that engages in global investment banking, securities, investment management, and other financial services, primarily with institutional clients. Founded in 1869, the firm is recognised as one of the most prestigious institutions in the world, although its reputation has suffered after the financial sector drew fire since the global financial crisis.

Chairman / President

David Solomon

CEO / Managing Director

David Solomon

CFO / Finance Director

Lloyd Blankfein (Chairman and CEO)

Industry

Banking, Financial services

Website

GoldmanSachs.com

Headquarters address

200 West Street, New York, New York, U.S.

Stock Code

NYSE:GS

Year founded

1869

last updated:

30 September, 2024

Malaysia 1MDB scandal

Malaysia’s 1MDB sues ‘dishonest’ Amicorp for US$1 billion for alleged fraud

The claim alleges Hong Kong-headquartered Amicorp of creating shell companies and enabling the misappropriation of funds between 2009 and 2014.

24 Dec 2024 - 12:13PMvideocam

Banking & finance

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Banking & finance

China’s finance sector liberalisation to favour foreign firms: BOC chairman

22 Oct 2024 - 7:18PM

China stock market

Mobius joins Goldman bet on China boost for emerging-market equities

‘The total pool of money coming into emerging markets will expand,’ veteran investor says. ‘You will see this whole market move.’.

13 Oct 2024 - 2:52PM

Legendary fund manager Mark Mobius, pictured on May 30, 2024, in Central, Hong Kong. Photo: Enoch Yiu

China's economic recovery

Explainer | How China’s 2024 stimulus compares with past packages, and what’s next?

In nominal terms, the massive package has the potential to be China’s biggest ever.

3 Oct 2024 - 5:00PMvideocam

China stock market

Wall Street jumps on China stocks after Beijing wields stimulus ‘big guns’

Chinese stocks are on a tear, and prominent figures including billionaire investor David Tepper and Goldman Sachs’ Scott Rubner are all in.

27 Sep 2024 - 10:17AM

Singapore

Explainer | From Facebook intern to TikTok CEO: a closer look at Singapore’s Shou Zi Chew

TikTok’s 41-year-old Singaporean CEO is facing an uphill battle to keep the platform alive in the US, while also maintaining a public profile.

17 Sep 2024 - 12:31PMvideocam

TikTok CEO Shou Zi Chew prepares to testify before the US Congress in March last year. Photo: Getty Images via AFP

Stocks

European luxury shares suffer rout as Chinese forgo high-priced goods

China’s rich, who once flocked to upscale boutiques in Paris, Milan and Hong Kong, may not return amid the economy’s downward spiral.

15 Sep 2024 - 1:15PM

Banking & finance

China’s top state-backed brokers are merging to take on Wall Street

State-backed brokerages Guotai Junan and Haitong Securities are merging to create a firm with US$237 billion in assets to rival Wall Street.

6 Sep 2024 - 3:58PM

Yuan

Interest rates, US election adding to yuan volatility: Goldman

Moves by the US Federal Reserve, as well as November’s US presidential election, would discourage selling the yuan, Goldman Sachs said on Friday.

30 Aug 2024 - 5:30PM

The yuan offshore has gained about 2 per cent this month in the anticipation of a rate cut by the US Federal Reserve. Photo: Bloomberg

China stock market

China’s stock traders cannot gauge mood as regulator cuts access to data

The Shanghai and Shenzhen exchanges will only publish limited information once per day of trading conducted via the northbound link of the Stock Connect scheme.

19 Aug 2024 - 3:21PM

China’s US$8.3 trillion stock market has seen an exodus of foreign investors in recent months. Photo: Bloomberg

US-China relations

US first, China second-to-last among G20 ranking for diplomatic pay, study shows

Report by International Intrigue shows Beijing diplomats’ salaries are ahead of only Jakarta’s among 16 analysed G20 countries.

8 Aug 2024 - 3:47PM

Banking & finance

Hong Kong stocks slide after China’s third plenum underwhelms, geopolitics eyed

Hong Kong stocks tumbled on Friday after China’s third plenum announcement was light on details about measures to boost economic growth.

19 Jul 2024 - 4:43PM

China’s third plenum

Xi tells party to show ‘unwavering faith’ in China’s reform plans

Official messaging suggests there will be no major changes in the country’s economic strategy despite growing challenges.

18 Jul 2024 - 5:58PMvideocam

State media has hailed Xi Jinping as a “thoroughbred reformer”. Photo: AFP

Malaysia

Jho Low, US reach confidential deal to try to ‘forever’ resolve 1MDB-linked case

The confidential agreement, which has yet to be publicly disclosed, is tied to the announcement on Wednesday by the DOJ that it is to recover an additional US$100 million in resolving two civil forfeiture cases.

28 Jun 2024 - 5:15PMvideocam

Fugitive financier Jho Low has signed a secret deal with the US DOJ to “forever” end a 1MDB-linked forfeiture case, according to CNA. Photo: SCMP

Malaysia 1MDB scandal

Jho Low to forfeit Warhol, Monet art in US$100 million 1MDB settlement with US

The fugitive financier will also give up a luxury Paris flat and real estate and bank accounts in Hong Kong, Singapore and Switzerland.

28 Jun 2024 - 4:27PMvideocam

China stock market

Buy high-dividend Chinese stocks as firms build record cash piles, says Goldman

Investors should stick with buying stocks that promise good dividends in China’s stock market, as a policy push is likely to encourage more payouts, and the cash built up by listed companies is at an all-time high, according to Goldman Sachs.

24 Jun 2024 - 2:13PM

China property

China needs to inject US$276b into property market to stabilise prices: Goldman

China needs to inject about 2 trillion yuan into its crisis-hit property market to mop up some 10 per cent of the housing inventory and stabilise property prices, Goldman Sachs said in a report.

4 Jun 2024 - 6:49PMvideocam

Residential buildings under construction at the China Vanke’s Langshi Flower Language development in Shanghai, China. Photo: Bloomberg

E-commerce

Shein, fast-fashion giant founded in China, said to be filing London IPO

The company, which runs a large sourcing centre in southern China, reportedly will file a confidential prospectus in the coming days.

4 Jun 2024 - 8:21PM

Italian Serie A

Inter Milan was a plaything for billionaire Zhang and son, but the money ran out

The Zhangs’ company lost control of the Italian champions after defaulting on a loan – an example of how European clubs have crumbled under massive debt.

30 May 2024 - 10:31PM

E-commerce

PDD trades near cheapest level ever as tech war spooks investors

Shares of the parent of Temu and Pinduoduo are being held back by geopolitical risks and fierce competition in China’s e-commerce sector.

28 May 2024 - 12:12PM

Chinese online group discounter PDD started trading on the Nasdaq in July 2018. Photo: Reuters

Malaysia 1MDB scandal

Malaysia’s 1MDB sues PetroSaudi executive, seeking US$1.83 billion

Troubled Malaysian state fund 1MDB has sued Petrosaudi International Ltd.’s executive Patrick Mahony for US$1.83 billion over a 2009 joint venture with the oil exploration firm.

24 May 2024 - 1:23AMvideocam

China stock market

Goldman Sachs leads bulls on Chinese stocks, but others remain cautious

‘It’s too early to leave the party,’ says an HSBC analyst as Goldman raises its index targets by at least 5 per cent, but JPMorgan Private Bank calls an end to the rebound.

21 May 2024 - 4:50PM

Artificial intelligence

AI boom fuels demand for data centre deals in Asia-Pacific this year

Data centre deals in the Asia-Pacific this year are expected to surpass the region’s record tally of US$3.45 billion in 2023.

8 May 2024 - 4:38PM

Banking & finance

Goldman Sachs, UBS, BNP turn more positive on Chinese stocks

Investment banks including Goldman Sachs, UBS and BNP have become more positive on Chinese stocks, with foreign selling having subsided. But the property crisis, deflationary risks and tepid consumer demand mean global investors are yet to go all ‘all in’.

6 May 2024 - 11:28AM

One of two statues of a bull, looking at the Hong Kong Stock Exchange at the Exchange Square in Hong Kong’s Central business district on 9 November 2016. Photo: David Wong

Electric & new energy vehicles

BYD’s first-quarter profit, revenue slump amid bruising price war in China

The Warren Buffett-backed carmaker posted first-quarter net profit of 4.57 billion yuan (US$631 million), 47.3 per cent lower than the quarter ended December 2023.

29 Apr 2024 - 9:07PMvideocam

Visitors take a closer look at BYD’s new plug-in hybrid model at the Beijing International Automotive Exhibition on April 25. Photo: Kyodo

Mergers & Acquisitions

Billionaire Geiger is said to near US$7 billion L’Occitane buyout

Reinhold Geiger is considering making an offer for the L’Occitane shares he does not already own at HK$33 to HK$34 apiece as early as Monday.

29 Apr 2024 - 10:36AM

China economy

Macroscope | Why China’s reform of state-owned enterprises matters more than ever

China’s campaign to improve the financial performance of listed SOEs comes as Japan’s stock market is benefiting from corporate governance reforms. However, China is not Japan. Beijing is battling a structural downturn, and corporate governance reforms alone are not going to turn sentiment around.

26 Apr 2024 - 6:04AMvideocam

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