NEW YORK (Reuters) – Goldman Sachs Group Inc’s Chief Executive David Solomon and top executives will give investors an update on their strategy on Tuesday. Here are biographies of key leaders who will speak at the second investor day in the Wall Street firm’s 154-year history. The speaker biographies are based on company documents, statements…
By Lawrence White, Iain Withers and Sinead Cruise LONDON (Reuters) – British banks face a tougher battle for mortgage customers and business borrowers in 2023, as rising costs and deposit rates paid to long-suffering savers threaten to outpace flatlining profit margins, senior industry executives and analysts said. The 2022 annual results from the country’s four…
By Lananh Nguyen NEW YORK (Reuters) – Bank of America Corp (BofA) amassed $1.2 billion in expenses for litigation and regulatory investigations last year including fines and settlements, according to a company filing on Wednesday. The cost is a major jump from $164 million recorded by the second-largest U.S. lender in 2021 and $823 million…
By Chiara Elisei LONDON (Reuters) – Private credit and infrastructure investments across emerging and developing markets surged to record levels in 2022 as borrowers looked for alternative financing options amid rising interest rates, according to a report published on Wednesday. The Global Private Capital Association (GPCA) said private credit investment saw the largest rise, growing…
By Chris Taylor NEW YORK (Reuters) – Eytan Morgenstern is facing a very expensive dilemma. The 36-year-old public relations professional has an opportunity to check something off his life ‘bucket list’: Seeing his favorite band, Metallica, play live. One problem: They are not coming to his city of Jerusalem, so he is considering going to…
By John McCrank NEW YORK (Reuters) – The mutual fund industry is warning the U.S. Securities and Exchange Commission that new proposed rules aimed at better preparing open-end funds to weather distressed market conditions would harm investors saving for retirement. A November proposal from the SEC would require mutual funds, and some exchange-traded funds, to…
By Jonathan Stempel (Reuters) – Charlie Munger, the longtime business partner of Warren Buffett at Berkshire Hathaway Inc, on Wednesday said China remains a top opportunity for investors despite geopolitical risks. Munger also doubled down on his recent Wall Street Journal editorial calling for the U.S. government to follow China and ban cryptocurrency, saying “people…
By David Randall and Carolina Mandl NEW YORK (Reuters) – “Big Short” investor Michael Burry, Farallon Capital Management, and Coatue Management were among the prominent hedge fund managers who took large bets on Chinese companies ahead of the reopening of the country’s borders in January after nearly three years of restrictions, securities filings showed on…
By Richa Naidu LONDON (Reuters) -This Valentine’s Day is set to look different after a year of record food inflation that has sent up prices of everything from flowers to chocolates and dining in restaurants. COVID-era supply chain logjams and Russia’s invasion of Ukraine have meant that Britons paid a record 16.7% more for food…
By Carolina Mandl NEW YORK (Reuters) – Soros Fund Management, the family office of billionaire George Soros, added to its portfolio new shares in financial and healthcare companies and a bonds exchanged-traded fund in the fourth quarter, according to a regulatory filing on Monday. Soros disclosed a $325.3 million stake, or 2.9 million shares, in…
