Audioburst Search

40 Burst results for "goldman sachs"

Fresh update on "goldman sachs" discussed on Exchanges at Goldman Sachs

Exchanges at Goldman Sachs

00:52 min | 3 hrs ago

Fresh update on "goldman sachs" discussed on Exchanges at Goldman Sachs

"For the euro. I would highlight three things. The first is that the euro is very cheap, so the dollar is expensive. The Euro is cheap. We put long run fair value for the euro dollar exchange rate around third so today one twelve. You are deeply undervalued, and we see that reflected in conventional things like the Europe, your areas large trade surplus, his otherwise strong balance of payments picture so the euro area. Seem to show the classic signs of very competitively valued exchange rate achieve exchange rate second. We think that the euro area is likely to have a steeper and smoother recovery from the corona virus recession than the United States in part that reflects the deep hole that Europe is coming from, but it also reflects better virus control. We've seen the reopening process. Proceed pretty steadily in Europe with limited effects on the outbreak, so it more successful reopening process we think may mean a little bit faster European growth over the coming quarters, lastly through the crisis, we have seen some important structural changes in Europe's fiscal architecture that I think are very important to. To recognize in particular, the recovery funded proposal from Europe from Germany and France is a big step forward to more fiscal risk-sharing, more burden-sharing across the euro area, which had been a feature that many observers had criticized many investors at pointed to as reasons to be reluctant to be long European assets on a structural set, so Europe's fiscal architecture is kind of coming together during the crisis, and we think that that's an important factor to remove tail risks for the common currency so cheap valuation more cynical, upside reduced tail risk I. You put those together in the euro area. Picture looks relatively attractive with more upside downside risk for the euro currency. So you've talked a lot of investors around these views, he getting any push back from active investors on your views on the euro versus the dollar. Yes I think that. These views do resonate to a degree with many investors, but we certainly get plenty of pushback as well and I would say that's primarily from equity investors. At this point, many equity investors look backward and see the really substantial US market outperformance US earnings growth outperformance compared to your over the last five or more years and questioned whether European companies really have the capacity to outperform on a sustained basis the US firms so that's really where a lot of the debate is among international investors at. At, the moment is whether European corporate earnings can keep pace or outperform US corporate earnings. We think that's a possibility and we've warmed up. Our equity strategists had warmed up on the case for European stocks relative to the US market, but I would say that's really where a lot of the pushback in debate is in currency markets today, so before Kobe head always talked about in these conversations was the US. Election that's stayed a little bit in significance for investors, but it is coming to. To the forefront again now as the risks around Kobe become at least clearer, how might the outcome of the US election affect turns markets? This is definitely getting more attention in currency markets. Today we would highlight a couple of specific policy proposals for trends that could affect the dollar or other currencies. The first is the corporate tax rate which is in focus across a lot of markets, including currency markets us, corporate tax rates. Go Up. Hold all else equal. That would make US shares A. A little bit less attractive on a relative basis to their international peers, and that could have some implications for the dollar. The dollar strength in late twenty seventeen, as the corporate tax bill was being passed moving towards passage in late two thousand seventeen, so we see the reverse of that over the coming years that could lead to some of these temporary dollar weakness on the back of that the second topic is really around tariffs. You know the disputes between the United States and China I. I? Don't think anybody thinks a really going away. In a longer term sense, but Vice President Biden does seem to have a lower appetite for using terrorists specifically then president trump, so we do think that in abided administration tariffs that have been imposed on China and maybe other tariffs as well could be rolled back, and that would tend to be a positive for the Chinese yuan relative to the dollar as well as other of China, sensitive currencies for example like the Taiwan dollar lastly I. I think one big picture. Point is worth mentioning you know. Currency markets are partly affected by the United States role in the world. The world holds a lot of dollars reflecting the United States is historical role in the world. If that's undergoing change that could have currency market implication so in recent years we have seen these efforts toward de-dollarisation, reflecting this trend countries trying to find a way to have fewer dollars. Their foreign exchange reserves your dollars in their crossborder trade, etc in second trump. Trump term where the US is pulling back from international institutions and changing the way that it's Ostra in the world we could see those efforts continue, and that may have some dollar implications in the long run, so we do think it'd be. Election is a potentially important factor for the US currency. In my view, the tariffs issue is probably the most direct and meaningful for ambassadors over the next couple of quarters are Zach well lots of talk of delegation over the years and yet never. Never seems to really get that. Much momentum was act. Thanks for joining us today. Saying discussion, thanks for having that concludes this episode of exchanges. Goldman Sachs thanks for listening, and if you enjoyed the show, we hope you subscribe Apple podcasts and leave a rating or comment, and please tune in Friday for a weekly markets update were leaders around the firm provided? Quick take on the latest in markets. This podcast was recorded on Tuesday June thirtieth, two thousand and twenty. Thanks for listening All price references and market forecasts correspond to the date of this recording. This podcast should not be copied distributed published reproduced in whole or in part, the information contained in this podcast constitute research or recommendation from any Goldman Sachs entity to the listener neither Goldman Sachs. Any of its affiliates makes any representation or warranty as to the accuracy or completeness of the statements, or any information contained in this podcast, and any liability, therefore including and respect of. Of direct, indirect or consequential loss or damage is expressly disclaimed the views expressed in this podcast or not necessarily those of Goldman Sachs and Goldman. Sachs is not providing any financial economic legal accounting or tax, advice or recommendations in this podcast. In addition, the receipt of this podcast by any listener is not to be taken as constituting the giving investment advice by Goldman Sachs to that listener, nor to constitute such person, a client of Goldman Sachs entity..

United States Goldman Sachs Europe Sachs Kobe Donald Trump Vice President Biden China Germany Zach France President Trump Apple
"goldman sachs" Discussed on Exchanges at Goldman Sachs

Exchanges at Goldman Sachs

07:04 min | 3 hrs ago

"goldman sachs" Discussed on Exchanges at Goldman Sachs

"For the euro. I would highlight three things. The first is that the euro is very cheap, so the dollar is expensive. The Euro is cheap. We put long run fair value for the euro dollar exchange rate around third so today one twelve. You are deeply undervalued, and we see that reflected in conventional things like the Europe, your areas large trade surplus, his otherwise strong balance of payments picture so the euro area. Seem to show the classic signs of very competitively valued exchange rate achieve exchange rate second. We think that the euro area is likely to have a steeper and smoother recovery from the corona virus recession than the United States in part that reflects the deep hole that Europe is coming from, but it also reflects better virus control. We've seen the reopening process. Proceed pretty steadily in Europe with limited effects on the outbreak, so it more successful reopening process we think may mean a little bit faster European growth over the coming quarters, lastly through the crisis, we have seen some important structural changes in Europe's fiscal architecture that I think are very important to. To recognize in particular, the recovery funded proposal from Europe from Germany and France is a big step forward to more fiscal risk-sharing, more burden-sharing across the euro area, which had been a feature that many observers had criticized many investors at pointed to as reasons to be reluctant to be long European assets on a structural set, so Europe's fiscal architecture is kind of coming together during the crisis, and we think that that's an important factor to remove tail risks for the common currency so cheap valuation more cynical, upside reduced tail risk I. You put those together in the euro area. Picture looks relatively attractive with more upside downside risk for the euro currency. So you've talked a lot of investors around these views, he getting any push back from active investors on your views on the euro versus the dollar. Yes I think that. These views do resonate to a degree with many investors, but we certainly get plenty of pushback as well and I would say that's primarily from equity investors. At this point, many equity investors look backward and see the really substantial US market outperformance US earnings growth outperformance compared to your over the last five or more years and questioned whether European companies really have the capacity to outperform on a sustained basis the US firms so that's really where a lot of the debate is among international investors at. At, the moment is whether European corporate earnings can keep pace or outperform US corporate earnings. We think that's a possibility and we've warmed up. Our equity strategists had warmed up on the case for European stocks relative to the US market, but I would say that's really where a lot of the pushback in debate is in currency markets today, so before Kobe head always talked about in these conversations was the US. Election that's stayed a little bit in significance for investors, but it is coming to. To the forefront again now as the risks around Kobe become at least clearer, how might the outcome of the US election affect turns markets? This is definitely getting more attention in currency markets. Today we would highlight a couple of specific policy proposals for trends that could affect the dollar or other currencies. The first is the corporate tax rate which is in focus across a lot of markets, including currency markets us, corporate tax rates. Go Up. Hold all else equal. That would make US shares A. A little bit less attractive on a relative basis to their international peers, and that could have some implications for the dollar. The dollar strength in late twenty seventeen, as the corporate tax bill was being passed moving towards passage in late two thousand seventeen, so we see the reverse of that over the coming years that could lead to some of these temporary dollar weakness on the back of that the second topic is really around tariffs. You know the disputes between the United States and China I. I? Don't think anybody thinks a really going away. In a longer term sense, but Vice President Biden does seem to have a lower appetite for using terrorists specifically then president trump, so we do think that in abided administration tariffs that have been imposed on China and maybe other tariffs as well could be rolled back, and that would tend to be a positive for the Chinese yuan relative to the dollar as well as other of China, sensitive currencies for example like the Taiwan dollar lastly I. I think one big picture. Point is worth mentioning you know. Currency markets are partly affected by the United States role in the world. The world holds a lot of dollars reflecting the United States is historical role in the world. If that's undergoing change that could have currency market implication so in recent years we have seen these efforts toward de-dollarisation, reflecting this trend countries trying to find a way to have fewer dollars. Their foreign exchange reserves your dollars in their crossborder trade, etc in second trump. Trump term where the US is pulling back from international institutions and changing the way that it's Ostra in the world we could see those efforts continue, and that may have some dollar implications in the long run, so we do think it'd be. Election is a potentially important factor for the US currency. In my view, the tariffs issue is probably the most direct and meaningful for ambassadors over the next couple of quarters are Zach well lots of talk of delegation over the years and yet never. Never seems to really get that. Much momentum was act. Thanks for joining us today. Saying discussion, thanks for having that concludes this episode of exchanges. Goldman Sachs thanks for listening, and if you enjoyed the show, we hope you subscribe Apple podcasts and leave a rating or comment, and please tune in Friday for a weekly markets update were leaders around the firm provided? Quick take on the latest in markets. This podcast was recorded on Tuesday June thirtieth, two thousand and twenty. Thanks for listening All price references and market forecasts correspond to the date of this recording. This podcast should not be copied distributed published reproduced in whole or in part, the information contained in this podcast constitute research or recommendation from any Goldman Sachs entity to the listener neither Goldman Sachs. Any of its affiliates makes any representation or warranty as to the accuracy or completeness of the statements, or any information contained in this podcast, and any liability, therefore including and respect of. Of direct, indirect or consequential loss or damage is expressly disclaimed the views expressed in this podcast or not necessarily those of Goldman Sachs and Goldman. Sachs is not providing any financial economic legal accounting or tax, advice or recommendations in this podcast. In addition, the receipt of this podcast by any listener is not to be taken as constituting the giving investment advice by Goldman Sachs to that listener, nor to constitute such person, a client of Goldman Sachs entity..

United States Goldman Sachs Europe Sachs Kobe trump Vice President Biden China Germany Zach France president Apple
Fresh update on "goldman sachs" discussed on Exchanges at Goldman Sachs

Exchanges at Goldman Sachs

01:07 min | 3 hrs ago

Fresh update on "goldman sachs" discussed on Exchanges at Goldman Sachs

"This is exchanged. The Goldman Sachs will discuss developments currently shaping markets industries in the global economy I'm Jake siewert global head of corporate communications here at the firm and today I'm joined by Zach Panel Co, head of the global foreign exchange, interest rates and emerging markets strategy in Goldman. Sachs research factors team have a new report out called revenge of the two dollars, and today will share his views on the strength of the US dollar, compared to some foreign currencies Zach, welcome to the program. Thanks Jake, so let's set the stage. Talk about where the? The dollar was compared to other foreign currencies. As we came into your two thousand twenty s o. the the dollar started this year on very strong footing. Really you've come from a five year period in which U. S. asset markets had substantially outperformed the rest of the world, so the Federal Reserve went on a rate hiking cycle, whereas the rest of the world at rates, a negative place and us, corporate earnings substantially outperformed as well led by the mega cap. Tech stocks dominate the US markets on top of that. The dollar has always disturbed safe. Appeal that has helped support the currency's valuation through things like the trade war last year, so all of these factors have driven a lot of portfolio flows from around the world into US markets over the last five years, or so and raise the dollar's valuation quite substantially so even so much so that there has been an on again off again. Debate about whether the US, government should take active steps to try to intervene and weaken the dollar value, so we always have this question about whether we want a strong dollar in the United States, but at we've certainly had one in the last couple of years, okay? Okay, so how did corona virus and the onset of that affect US dollar? What's your outlook for the greenback today? Going forward, so the crisis really had two almost contradictory effects on the dollar on the one hand it raised the dollars value quite substantially, so the Dr on went straight up in markets during the the big equity draw down at the outset of the crisis, so it helped raise the dollar's value further beyond where we started the year, but on the other hand the crisis is also because the Federal Reserve to lower interest rates down around to their lower bound, so the high level of rates relative. Relative to other markets has been one thing holding up the dollar value in recent years, and now that's gone away so on one hand you have more dollar strength and the other hand, one of the key fundamental factors supporting that strength has gone away so I think he put those two things together I think it's fair to say that the crisis has made the US carmody. Look quite a bit more vulnerable now until recently, we hadn't really been ready to recommend that. Investors Express views in portfolio, so these things were true. In March the Fed had already cut down to zero in the dollar was very expensive. Expensive we were generally discouraging investors from pudding, dollars, shorts or going lawn, other currencies in portfolios, and the reason for that is of the dollar is a countercyclical asset or a safe haven asset tends to go up in bad times and down in good times, so we needed to have more confidence that the global economy really was seeing a sustainable recovery. If we're recommending active dollar-shorts in portfolios, we think that that condition has been met now, and we become more vocal about encouraging investors to position for dollar weakness portfolios today now I would say that because of the dollar's high valuation, perhaps twenty percent or so. At the highs in March and April, the downside could be fairly substantial if a trend develops because you are studying from this high valuation, so our outlook for the Dr would be that fundamentals or the US currency look pretty for valuations are high, and you have a kind of classic recipe for sustained weakness, so we would be fairly negative. Amidala especially if the global economy has a fairly robust recovery over the next few works will in the. The meantime, there's obviously been some concern about a second wave outbreak in the US and yet the dollar has strengthened. Why is the US currency appreciating on what looked like very US centric risks? Yeah, that would be a surprising outcome for most currencies, but this is actually a fairly typical pattern for the dollar. We think it reflects the US currencies unique global role. In fact, we, we usually encouraged investors to think about their really be two. There's a kind of domestic dollar which behaves like any other currency, but there's also this international dimension to the dollar, which is unique, the US currency denominated quite a lot of goods and assets outside of its home country outside of the United States so for example, US economy, maybe something like one fifth of the global economy, but the dollar accounts for something like sixty percent of global foreign exchange reserves. It's usually the currency of choice for cross-border lending and global trade and treasuries are the world's primary safe haven asset, and about half of. Of the Treasury market is also held by overseas investors, so the dollar has this international dimension that's unique and we think of these features are what caused the correlation that we observe markets. Dollar tends to go up in bad times down in good times reflecting its international role, so even when the risks that markets are concerned about are beginning in the United States. If they're big enough, and they affect the global economic outlook or investor risk appetite, they can paradoxically raise the dollars value and I think that's exactly what we're seeing recently. Makes sense given the the dollar's vulnerability and the potential for some degradation there. What major currencies do you think will drive dollar weakness over the quarters head? Currency markets are always a relative value asset class, so it is of course the right question to say if the dollar is going to go down. What's going to go up and I think among the smaller currencies there are a number of candidates actually, but among a major currencies. I really think that it's a question about the euro at the stage and our view would. would be that in addition to there being a bear case for the US dollar, there is a bull case.

United States Dollar Federal Reserve Global Head Of Corporate Commu Jake Siewert Goldman Sachs Zach Panel Co Sachs Treasury
New COVID-19 testing site opens at University of Dallas

KRLD News, Weather and Traffic

00:40 sec | 6 d ago

New COVID-19 testing site opens at University of Dallas

"Dallas County sets a new record for the number of Corona virus cases. And deaths counties reporting 20 deaths in 601 new cases. Dallas County Judge Clay Jenkins says these numbers are one reason he wants the governor to put out a statewide order requiring face masks in public, according to Goldman Sachs. That would save our Texas economy for the whole state. $87 billion if he would simply do that one thing. He also wants more restrictions on businesses. businesses. Dallas Dallas County County is is opening opening up up a a new new Corona Corona virus virus testing testing site site at at the the University University of of Dallas Dallas in in Irving Irving tomorrow. tomorrow. They They say say it's it's going going to to provide provide results results more more quickly quickly than than the the site site that that they they have at the A. C in that site Shutdown today,

Dallas Dallas County County University University Of Of Da Dallas County Irving Irving Judge Clay Jenkins Goldman Sachs Texas
Fresh update on "goldman sachs" discussed on KRLD News, Weather and Traffic

KRLD News, Weather and Traffic

01:07 min | 5 hrs ago

Fresh update on "goldman sachs" discussed on KRLD News, Weather and Traffic

"E War. 9 54 Thank you. Casey Casey. It's time to take a look at your money now for state of the art weight loss. Here's David Johnson. Scotty, The Dow just can't make any headway. We dropped about 250 point right in the open. We've rallied to minus 1 50 were down 1 78 right now, but they're just working over some of the key stocks. Goldman Sachs is down six. JPMorgan's down 2.5, so the financials are weak. Buoying just on any given day disrupts the average and this down $5.5 a share. Right now, the SNP average is virtually unchanged. It's down 1.70 and the NASDAQ is up 50. For now. It's not a big gain. But it's remarkable in the fact that that is yet another new all time intraday. I And if it could close it all positive. It'll be another record high, and it will be six consecutive days of games, with an average the price of crude down three cents. Gold's up $16.10 year 8.67% still seeing weakness in the airline stocks today, United's warning That bookings really dropped off after New York, New Jersey and Connecticut put a hold on travel from the so called hot spot state. You've got a You've got to quarantine for two weeks if you want to fly to New York, so nobody's gotta fly to New York. That's harder United. It's down 6% Americans that almost 6% to now, now 1 67 David Johnson, whose radio 10 80 Caroll Day thanks, David traffic and weather together on the AIDS coming up. I've been right a motorcycle for 52 years,.

David Johnson New York Casey Casey Goldman Sachs Jpmorgan Scotty New Jersey United Gold Connecticut
Airline Cash Flow

Airplane Geeks Podcast

05:44 min | Last week

Airline Cash Flow

"All right our first story comes in from our Listener Linda. This is from one mile at a time surprising statistics about mileage, plus about united, mileage plus. In, we see that united has announced financing in the amount of five billion dollars secured through the airlines loyalty program. This is part of their to have seventeen billion dollars in liquidity by the end of September. Separately CNN reports that that's three times the cash. They normally have on hint. Of course all the airlines are. Struggling essentially with their cash flow situations and they they need to have. Cash on hand united is amongst them of course and It's it's an interesting strategy to take their mileage plus program and leverage off some financing based on that and the findings. He's GonNa come through Goldman Sachs Barclays. And Morgan Stanley and united will have seven years to repay that. These affinity programs like mileage plus our big business for the airlines united estimates that the value of their mileage plus program. If it was a standalone business, would be twenty billion dollars, so there's a lot of. A lot of revenue that changes hands here. We need Dan back as guest to explain all this 'cause. I tried to read how they mortgaged their frequent flyer program to raise five billion in my head started to hurt. Well I'm just thinking I I'm GonNa. Leave the show early right now because I'm GonNa, go start the airplane, Geeks, mileage plus program. I mean there's this is a twenty billion dollar business. We're wasting our time here, guys. I know it's It's pretty amazing so. The, the partners United Partners Pay United to award miles to their own customers, so says things like credit, cards and hotels when you earn united miles or mileage plus miles by reserving at a hotel or using a credit card. United gets a piece of that action and it adds up to quite a lot. So that large part of it comes from selling miles to other airline programs. I didn't see them call out specifically income from credit cards for example card I use most often still is the united mileage plus a credit card. I would imagine they must be earning. Some money from chaser manages that card. Even My my Hilton Program have the option the option of taking my awards, my my points, basically that I earned from staying at Hilton, properties and I, either get Hilton points which I can redeem for rooms, or I can get united, miles well Hilton. Kick something that United Four that for Hilton. There's value because it's you know. It's a service can offer its customers. If you look at the one mile at a time website. It gets down to break some of the stuff down. Like seventy one percent of the cat is offer twenty, one, thousand, nine hundred. Seventy one percent of the cash flow is from sales miles purchased by third party partners. But then when you look at how it was redeemed, ninety seven percent is redeemed by. using it on united. Right for travel, in yeah, only three percent of those milder redeemed for non travel rewards, it does make you start to wonder if the the planes are just kind of you know aside business. Instead they're making money off of mileage plus baggage fees. You wonder at some point Could this be one of these businesses where you know you give away the the razors for free, and you're making it all on selling razor blades. Absolutely I am particularly these days, but even you know even without the huge drop in air traffic is the result of the pandemic. Even before that the aircraft, just the promotional item Eb. Senses Yeah and in some in some way, so it's it's a really interesting business. It's not always what you What you think we also see here that you united his made an SEC filing an aide filing in in that filing. We learn a little bit more about the program. that united mileage. Plus program has over a hundred million members. And that fifty percent of United's flight revenue comes from mileage plus members. Which is that's? That's pretty high. Also the mileage plus program generated five point three billion in cash flow from sales in two thousand nineteen, and that's roughly twelve percent of United's overall revenue. So, Oh, another interesting The number here is it. The mileage plus program generated one point eight billion dollars in Eba, DA, which represents about twenty six percent of their total adjusted ebitda. That's. earnings before interest taxes depreciation and amortization. So that's that's sort of a A. Year of earnings from an operating standpoint, twenty six percent of united's basically operating earnings from this mileage plus

United Partners Pay United United Hilton CNN Goldman Sachs Barclays Morgan Stanley EBA DAN SEC
Fresh update on "goldman sachs" discussed on KRLD News, Weather and Traffic

KRLD News, Weather and Traffic

00:26 min | 5 hrs ago

Fresh update on "goldman sachs" discussed on KRLD News, Weather and Traffic

"Time to check on your money. Let's check in with David Johnson. Well, that place is spooky without Yeah, yeah, with anybody in it. Stock market is trying to recover. We sold up right on the opening the Dow still down 140 points. We're seeing a give back and oh, boy things down $5 shared. Goldman Sachs, A big winner. Yesterday's down about five and that sort of takes its soul there. The SNP average is almost unchanged. It's down two points. And the NASDAQ was the first to turn around. It was only lower for about 15 20 minutes, and it's now higher by 44. We're watching Facebook because Mark Zacher Berg and Cheryl Sandberg and Chris Cox from Facebook. Gotta meet with the head of the group. Stop Hate for profit campaign That's going on against that company today, and Facebook's up $4.76. The other big star today is this company Nova vax that is working on a vaccine. They've got $1.6 billion in funding from our government. To speed up the development of it. And the Novaks Big Gator Today, a bravely was up over 30%. It's a 25% right now of $19.98 60. The price of crude Zaf 15 cents. Gold's up $12.10 year rates pretty much where they were yesterday, 100.68%. The Dow's down 1 33 David Johnson News radio today T K rld. Thank you, David. We've got traffic and weather together on the eights is Tuesday morning. That's coming up next stay with us. Let's say you just bought it. House. Bad news.

Facebook David Johnson Goldman Sachs Mark Zacher Berg Chris Cox Cheryl Sandberg Gold
Why this Ex-Goldman Sachs Trader Started a Bitcoin Exchange w/ BTSE's Brian Wong

CRYPTO 101

03:56 min | 2 weeks ago

Why this Ex-Goldman Sachs Trader Started a Bitcoin Exchange w/ BTSE's Brian Wong

"Tell us a little bit about about how you got involved in Crypto in wide. You Start Building this exchange. Show so I came from a legacy market background I started off my career washroom. Actually was set Goldman in Essex Increasing Division. And I you know we were doing. Quantitative Trading Block imaging Trach shredders and then liaison got involved in a hedge fund in in China where I launch a monkey missing. To Trade. On shoal financial products like index futures, commodity futures trading like gold silver. Reba all sorts of things and then. I I heard about bitcoin around twenty thirteen. That was one at first bull market. kind of went might lessen under dollars a shot up to over a thousand dollars, and then in two thousand thirteen. Everyone's talking about bitcoin. Shanghai Shanghai outside. People were saying Oh, you know. MOMS and POPs are all getting into bitcoin and that got me interested in this. New Market. I guess I was coming from A. Point of view of flight. Oh, how can treat this? It seems like that is a lot of ginny stage to trade bitcoin, perhaps arbitrage yet so I started looking into it, and then back in the days, the opportunities were pretty crazy for trading. Like you could. Basically. In between the few exchanges static existed back in the days by hand. You don't even need a computer you don't need to connect by. You can literally just by becoming one exchange transferred over the blockchain to another exchange and then south, and they make a pretty hefty profit sometimes I might be this location couple. That's how I I learned about Bitcoin and then absence. Fascinated by the space by technology by the people involved in his face I would say it's I. Say in the Legacy Marcus I continue to. BOOT, trading systems. Trade and Ben in about twenty, seventeen, twenty, eight, my co-founders and I we were witnessing one of the greatest bull markets in history but at the time a lot of the other changes stay. Plate with issues like system move lows. Scale ability issues technology issues, so we decided that we wanna take a lot of the know how that we have how bill perpetrating system Avocados, scalable trading systems stable platforms. Michael Founder boat. Train system that will trade billions of dollars a day experience in technology side of thanks, so I'll go was really set about building an exchange that cope with the scale ability up the com- oppositionist site. We think bitcoins continued scalp. More people are GONNA put money into big time. More hedge funds more traditional pension funds. Pension funds to teachers, Pension Fund might allocate a portion of that you into become so the the space will continue to grow up. We need technology change that can cope with that skin. So that's how we set off to build bitsy change. We build the proper foundation, layer. Ossetia's highly scalable again. Cobra uses is very low latency and high performance. That's really awesome. I mean you. You come from a tremendous background, and this is you're right. That's exactly what we need. Even today we're seeing you know. Spikes in volume and coin basis crashing bit mexes crashing all these platforms that have a lot of the traffic. They can't handle it and you're right. We do need something can

Pension Fund Shanghai Shanghai Essex Increasing Division Goldman New Market Trach Ginny Ossetia Michael Founder BEN China Cobra
Fresh update on "goldman sachs" discussed on Morning Edition

Morning Edition

00:43 min | 6 hrs ago

Fresh update on "goldman sachs" discussed on Morning Edition

"Want very much to avoid that. Goldman Sachs chief economist John Hotsy has argues. You could skip the shutdown and still achieve a similar reduction in new infections. If the government simply ordered people across the country to wear masks when they're out in public, he says that would cut the infection rate more than 60% without the price tag of another lock down. Face masks a very effective in reducing virus spread that would bring down the growth rate of confirmed virus cases significantly and reduce the need for what otherwise would be a significant hit to the economy. It's obviously late, but Hans, it says it's not too late for a nationwide mask mandate. And he points to Texas Governor Greg Abbott, who finally did an about face on masks last week and issued his own broad mandate as a sign that policy makers in this country are willing to adapt when circumstances require it. So interesting both of public health argument. An economic argument for facemasks, NPR chief economics correspondent Scott Horsley with us this morning, Scott, Thanks so much you're welcome. It's.

John Hotsy Scott Horsley Chief Economist Goldman Sachs Governor Greg Abbott Hans NPR Texas
Nasdaq closes above 10,000 for first time; Dow, S&P 500 end lower

KRLD News, Weather and Traffic

02:15 min | 3 weeks ago

Nasdaq closes above 10,000 for first time; Dow, S&P 500 end lower

"Johnson now joining us to wrap up the day on Wall Street what's the biggest surprise you today all the biggest prize it did that the the chairman of the fed was as dovish as he was I it was dovish beads lowered her free talk is beans get a higher interest rates he said he said you know we're not even thinking about raising interest rates there's zero now and they're probably going to be zero three two thousand twenty two well this is great news that day and the sense is they're going to continue to support you know the credit markets and all the right things so what had been about a hundred point sell off maybe a tutor board selloff turned slightly positive the Dow industrial average as he was giving those remarks but then we went to the Q. and a session and I don't know I didn't didn't just didn't play very well he was saying you know we we really don't know when all this is going to be over it's going to be you know when people feel comfortable going back out and doing all the stuff they used to do all this raised a little concerned and so by the end of the day they were selling into the rally so the Dow closed at the low point of the day down two hundred eighty two points there were twice as many stocks down is up you know could've been worse it's like four or five times as many down is up the S. and P. averaged out about a half percent down seventeen but man oh man there's the nasdaq again another new all time high it closed above ten thousand for the first time in history was up sixty six and a half and what do you do when you're worried about everything else you go buy yourself some Amazon and it was up forty seven apple was another new all time high of eight dollars and eighty five says Google was up nine Bucks Tesla back over a thousand up eighty four dollars and a thousand twenty five that's what they were buying what they were buying one of the banks Goldman Sachs and JP Morgan the components in the industrial average JP Morgan for a half box Goldman Sachs was down a little over four and a half so that's nine multiplied by six so there's you know sixty points taken away from the average the Boeing fell thirteen dollars a share today so that takes away the other seventy five or so and pretty soon you can see over the two hundred eighty two point selloff came

Johnson Chairman FED Amazon Apple Google Goldman Sachs Jp Morgan
Women are perceived to become liabilities the moment they become mothers. And that's just not true

Dare I Say

04:44 min | Last month

Women are perceived to become liabilities the moment they become mothers. And that's just not true

"You know I grew up in the Philippines. I had really strong female role models my mother my grandmothers. We had a female President Corazon Aquino when I was growing up and I grew up as an empowered girl you know part of the Ywca of Manila's one of their team leaders. When I was thirteen and a started organizing leadership conferences for girls when I was eighteen and then so when I left the Philippines to come to school I left Venus. This empowered girl and then I went to Mongolia College. Which is the first ever and oldest college for Women in America which has a strong tradition if educating female leaders that would change the world and right out of college and I was working at Goldman Sachs. I was sparked of launching the Investment Banking Women's Network for Goldman and so all of these experiences. Really you know allowed me to appreciate the importance of having strong female role models in women leaders all around. I think there's a surprising number of similarities. I also grew up with a very strong mother. Who set a wonderful example of how to work hard and achieve your dreams but also have a clear opinion and share that I also went to an all women's college so Wellesley and it was a really powerful example for me to see all the leadership roles filled by women because that was just the assumption. Why wouldn't the leadership refilled by a woman? I think couple of differences. I grew up in a lot of other countries. As well you came from the Philippines. I I grew up in China for three years in Japan in Ecuador and France and so seeing gender equality quite differently in all of those countries and comparing that to the United States was a real surprise for me it was it was so different from country to country in China for example. There's a saying that women hold up half the sky and that struck me as clearly women would would have half of the opportunities would be just as strong and through both school but then also work and now I have three young daughters six year old and almost four year old twin girls and so I care about gender equality even more But this has been with me from his as far as I can remember. We NEED TO ACCELERATE GENDER EQUALITY. So we can have it in your daughter's life exactly that quite a bit actually at the rate we're going. The whole world stands to benefit if women participate in the economy identically. Demand according to Quinlan's research at McKinsey it would boost the world's economy annually by twenty trillion dollars. That's the size of China and US economies combined. It's all countries align their gender equality efforts with the progress made by their most impressive neighbors. The world's economy could grow by eleven percent that's twelve trillion dollars. A remedy for inequality is a daunting task and it starts at home from the United States may seem like a developed nation but the United States for the last decade has been ranking in the twenties to thirties and the global gender gap report and so there is a lot of progress that needs to be achieved and one of these areas is an economic empowerment so the gender pay gap still persists here in the United States. The gap has narrowed since nineteen eighty. But it's been stable over the last fifteen years and as of last year on average women have earned only eighty five percent of what men earned and based on this estimate. This means it would take an extra thirty nine days of work for women to earn what men did. As of last year there is also the perception that this gender pay gap is imaginary. The latest survey shows that around half of the men believed that there is no gender pay gap so this is very much like half of the men are denying climate change. You know. It's the same principle of denying Ariel that exists which makes it even more problematic to solve when we think about the intersection of race and gender gap. It gets even worse with African American women getting paid the least on average a second area around economic empowerment for women as access to capital for women. Women receive less than ten percent of venture capital funding and ever ge US women are starting more and more companies access to capital is not as easy for women as it is for men. If you're a woman of color the probability that you'll get funding from a venture capitalist is less than one percent so there is a lot of work we need to do around economic empowerment women.

Investment Banking Women United States Philippines Mongolia College Corazon Aquino Goldman Sachs Manila President Trump Goldman China Mckinsey Wellesley Ariel Quinlan America Japan Ecuador
Analisa & Kweilin

Dare I Say

03:29 min | Last month

Analisa & Kweilin

"Has budged much over the last fifteen years. Globally women participate less in the workplace that men. They're more likely to work a low pay job and juggle their career with unpaid work as primary home caregivers. There are fewer women in politics and one in three women will experience domestic violence in her lifetime. Work needs to be done both internationally and at home and at least says and Queen Ellen groups are both trying to close the gap coiling is a senior partner at Mckinsey where she leads. Gender Equality Research. She advises Fortune Five. Hundred companies on how to improve WORKFORCE DIVERSITY. Annalisa is the CEO and founder of Women Spear a platform that boosts female leadership innovation and entrepreneurship. She serves as a commissioner of the women's Refugee Commission in this episode. The pair discussed why gender equality is not a zero sum game how we can encourage future. Generations of workers to champion women's empowerment and what companies can do to attract and maintain a diverse workplace. They are women. Dare you know I grew up in the Philippines. I had really strong female role models my mother my grandmothers. We had a female President Corazon Aquino when I was growing up and I grew up as an empowered girl you know part of the Ywca of Manila's one of their team leaders. When I was thirteen and a started organizing leadership conferences for girls when I was eighteen and then so when I left the Philippines to come to school I left Venus. This empowered girl and then I went to Mongolia College. Which is the first ever and oldest college for Women in America which has a strong tradition if educating female leaders that would change the world and right out of college and I was working at Goldman Sachs. I was sparked of launching the Investment Banking Women's Network for Goldman and so all of these experiences. Really you know allowed me to appreciate the importance of having strong female role models in women leaders all around. I think there's a surprising number of similarities. I also grew up with a very strong mother. Who set a wonderful example of how to work hard and achieve your dreams but also have a clear opinion and share that I also went to an all women's college so Wellesley and it was a really powerful example for me to see all the leadership roles filled by women because that was just the assumption. Why wouldn't the leadership refilled by a woman? I think couple of differences. I grew up in a lot of other countries. As well you came from the Philippines. I I grew up in China for three years in Japan in Ecuador and France and so seeing gender equality quite differently in all of those countries and comparing that to the United States was a real surprise for me it was it was so different from country to country in China for example. There's a saying that women hold up half the sky and that struck me as clearly women would would have half of the opportunities would be just as strong and through both school but then also work and now I have three young daughters six year old and almost four year old twin girls and so I care about gender equality even more But this has been with me from his as far as I can remember. We NEED TO ACCELERATE GENDER EQUALITY. So we can have it in your daughter's life exactly that quite a bit actually at the rate we're going.

Investment Banking Women Philippines Mongolia College Annalisa Goldman Sachs Corazon Aquino Mckinsey Fortune Five Goldman Senior Partner Manila China United States Wellesley President Trump Commissioner Japan CEO America
Cardano My Trade Of The Month

The Trader Cobb Crypto Podcast

07:48 min | Last month

Cardano My Trade Of The Month

"Well It was a very eventful will twenty four hours really and for all the right reasons if if you are not all ready Following may on Fi spoke on Youtube. The suggestion get across there and have a look at the video that stayed on the t x perpetual contracts of pain focusing on little to watch there for you guys and it's free so go and check out what. I want to show you this. I want to show you try that I took yesterday. I WanNa give you the reasoning behind it. I WANNA give you an entire understanding of what I'm looking for and why I'm looking for a thing. It's going to help already do. If you're a trade it will certainly help at least perspective. If you're not trading the I tried that's fine but I think it will give you a lovely to perspective is to try to Tom's and the power of cryptocurrency. Because look let's be honest. It can just flip so quick. It concerns a quick. You can make your money of the month in a single twenty four hour period and that's pretty much. What happened for me yesterday? So I'm very happy. I'm feeling very good and I wanNA talk through the market among because obviously you guys have made very aware that I've been talking about that ninety nine thousand eighteen. We broke up through that yesterday. I before. Sorry and then. We've we've seen that continuation push on through knuckles. Bitcoin did have a good day yesterday. You know another fall through full percent die before full percent To goodful percent days. That's really nice to say really really great stuff. Nothing knocking it out of the park but if you recall my said that little turn of trend at nine thousand I tain well. That guy is about roughly a thousand bucks to our resistance. Plenty of money. We made in that period time. So that's what's been going on and not only we say. Bitcoin move but we seen the rest of the market. Move very very well indeed. So I'm very happy with the way. Things are looking shopping at very very nicely. Does this mean bitcoin GonNa kick going? Higher probability was stuck more to the upside at the minute. But this is crypto. This is a mock can never know what's going to happen. All I can ever do is tried based off the probabilities that I have been using for years. That that's really all of somebody told me today. That some cow don was endorsed by Goldman Sachs. I haven't gone on proof that or anything like that MS site. Someone something that somebody told me that could have been move Kudzanai. But it wasn't what got man I go before that because I had a trade I got an opportunity can can technical analysis get it like you know. Tell you before these things no of course not but I can tell you this if you trading with the trend. You're usually going to be traveling in the direction that there's more than likely going to be used. That's that's what I found anyway and A my experience as a all we're trying to do is use a trading strategies to get us into the market and the market will do what the market does so very very good Currently we are down point seven ovalles percent on Bitcoin. A theory in right now is two hundred and twenty two dollars. Six ends up point seven percent yesterday. Fought point eight percent move. Really Nice moved once again. They by the theory pushing on through a level of resistance. That resistance was sitting running around that two hundred seventeen dollars on the daily now has an option once a guy with a high a high coming in yesterday and we push a little bit tonight as far as training opportunities for me right now. I'm waiting for pullbacks really am they're pulled back in the cradle on the four hour yesterday as well as on the two hour really. It'll pull bucks. But the problem was didn't have enough trended to be actually in the market trading that so I didn't take that that's what took took. Currently with exile paves slow slowing pay. Gee Whiz I wish it would do something. It's not done a lot for quite a while but that doesn't mean that a warrant do something still is except pay is still a big company that we currently down point up. Point one of a percent sitting Ronaldo's of twenty cents and that's kind of what we closed yesterday twenty cents. It was up one point three percent. It's got to push on. It's got to get above the high of twenty point eight. We get through that twenty point night will do have something of a stronger trend at that moment. Actually say some follow-through buying on Exa pave. The tank is pretty Pretty Flat Bitcoin. Cash has been quite messy on the daily. Now for what? Gee Whiz? That's April through. I land night to be fair. It really hasn't had that much major. It's not trended. Well is dropping. Look confused to be honest. It's up three percent yesterday. Closing at two hundred and fourteen. Dole's on the is up half percent today as I speak at two forty one fifteen but yes doesn't ask for Al Trendy but this better markets out there for modest and that's what I'm focusing more attention base vigorously also closed up early point one percent A closed the die at one ninety two spot eight five currently. We've pretty much flat on that number child. Let Him all that interesting. The moment eat up like going well yesterday. Up to eight percent closing a forty four spot. Seven five four hour here on this lot. Corn perpetual doesn't look too bad. It's just not really beautiful That I like to say when I am looking for that. Thank said the followed by the sixty now. There is an offshoot of the trend. There as I talked to you doing this. Podcast actually drawing in some levels. Because maybe we'll get a boost up. The answer is neither Lineup so it's really about just whiting. I'd I love that. Trend SAIMAA is up half percent forty five dollars on the noise. It's worth keeping an eye on though I will say that over the weekend. They us while had a pretty good die on a pretty good start today as well. Yesterday was only at one point five. We're already at one point five. Today we sitting at tweedle sixty five cents. A little bit with A little bit of momentum coming in to that and looking much better not the best child at their bonnets. Three point six percent Roy. Yesterday on the clause closing at seventeen dollars seven cents right now. It is not on my watch list. It does have some NAS momentum. I do WanNa see a four hour. Pullback that's the that's that Kaduna the big dog. The one that made me happy. Yesterday I guy in of seventeen point seven percent on the clothes closet. Six point four cents. Why Lightness Joe across the Youtube and watch the video. That's getting uploaded. It will be that when you get there because it will break down. Exactly why shows Donna? Revenue else Took took a tried during the day on. Donna took prophecy PERP on In the evening as well which I am currently now along any profit on Skylab Kaduna twice of locked in a big wedge of Prophet it cannot be lost now. It is a fantastic tried. It's definitely much trade all the wake now. Well what are waiting for now? Not a great deal. It's just run so hot and fast on. There's not much for me to do at the moment other than just manage the position that I still have running theorin. Classic has jumped out of the bolt. Today while broke through a bit of resistance carly today it's up four and a half percent at seven dollars marina seven dollars and eighteen cents yesterday closed. It's only at one point. Two percent yesterday closing at six dollars. Eighty six cents. That's a little bit of a one that got away because there was a lovely little breakout level. Again it's shining the trivia. It just didn't quite get the third tests that are needed to shine because if it had of fire off if it had would have had another prophet in but alas keep it in the list because there is a nostrand debt and I do like the look of this on IOS running at top ten. Hit Sean at half a percent today. Not much going on today. But yesterday. Three percent up closing at one point five one sense still crab will a bit tron. It's kind of looking in lock. What exile in in what I mean by that is not very interesting at the moment

Youtube FI TOM Donna Kaduna EXA Ronaldo Goldman Sachs Kudzanai DON Sean Dole ROY Al Trendy
"goldman sachs" Discussed on Exchanges at Goldman Sachs

Exchanges at Goldman Sachs

07:28 min | Last month

"goldman sachs" Discussed on Exchanges at Goldman Sachs

"Box of food kind of brightens their day kind of keeps the community connection alive. Another thing we've done is we've given out free face masks to the community. You know no purchase necessary. Just come by and get a face mask. Just one of many ways. We're trying to remain in touch back community this morning. We're actually giving away donation so local hospital to keep the community connection and on the flip side customers have really given us back that energy. They've all went online at Jimmy said and left nice messages sent us messages on Instagram. It's just been overwhelmed and love to hear that because that cycle of you. Guys Brining something. Nice than the cycle of them. It's sort of a little bit of a virtuous circle of kindness during this time. I hope it will all stay in a win win. We're back to work. I WanNa ask you a question about leadership you each run teams. What are you learning about? Leadership in crisis and where changes is constant. Perhaps the only constant. It'd be interesting to hear your flashes each of you lead teams Dina. So what I've learned is in L. ICAN and analogy as the leader of our team. We don't have the luxury to panic. So if a plane is going down and the people are screaming in the background. Oh my gosh right. You have to guide this ship the plane to a safe place right and so for me. It's been a matter of remembering that. I am an entrepreneur and so I have to make sure that you know with all that's going on. Yes my team is afraid. Yes I am afraid but I don't have time to cry. I need to have time. I need to get my people paid. Get my people protected and get my guest state and so in order to do that. I need to work and in order to work. I have to stay up. I have to be on webinars. I have to be on phone calls. I've applied over fourteen grants and three loans and a partridge in a pear tree. Right and so I don't you know people. Oh my God. I'm so bored and all my goodness I can't watch movie. What what movie as a as a leader of your team and crisis you have worked to. Do you have to steady the ship? I mean you know. We're we're you know we've business business-owners Right it is what it is right with Kobe. Nineteen it is what it is right. Second thing is we have to deal with it. Most of US business owners operate with a good noble purpose rematch. Trying to get over on people were not trying to take the hurt the community we're trying to provide a service or a product that helps and lastly get. Outta my way right. Get Out of my way Put my s on my chest. Put My Cape on and get to work and you lead your team by acknowledging what we've been through where we are now and you tell them. This is where we're going. This is your captain speaking. We're GONNA Land Bridge over there. Everybody takes them depress bright. That's IT I love it. It's fierce in fantastic. Might I might. We're slowly sullen burglary. We've got land. Felli data landing on us now. And we're cognizant that curry later shift. Us economies means that we're talking about numbers we're checking in. We're heading soon calls. Sm How they're doing not just WANNA professional level but also on a personal level the leadership also means to me personally. I'm not going to answer every single question. They may have correctly. But I'm GonNa give them the best answer. I have at the time of the information that I'm currently working with team members respected. They know when they come to myself for Michael Founder. My brother they're gonNA get the best information we have at the time. And we're GONNA help through any situation that we have so I would say just taking a leadership role and not feel like we have to happen. The right answer or make sure communicating information. We have to them in real time. Yeah genuine authentic Upfront Jenny yet. I mean so for for us agree with everything that was said but for us. It's sort of interesting. These were operating still kind of at half mast. And I'm operating as I said kind of you know with with limited time so this has become almost like a It's been incredibly important for me to understand. My role is a leader almost more than any other role that I normally play in my company because normally I'm trying to the jack-of-all-trades a little bit of this a little bit of that but right now what. I need to be as a leader. That's what I have time to be. And that's kind of boil down to us is three things team culture and communication and so. I'm right now prioritizing. Three things as leader within my company communicating with my co-founder. We have Co-founder breakfast typically once a week every Monday. And we're keeping those so every time I'm on a zoom call with Maria every week on Monday morning. Communication with our team and our team has pulled together in incredible way knowing that some people have been furloughed you know. But they're aligned in terms of what your Dana said work landing here together and it's GonNa be a good place. And thirdly we have shareholders in our company equity shareholders and communicating out to them. That were protecting the business. And we're going to get somewhere that we have to navigate through this and a plan so solid About maintaining culture for us all these cedar should tips have been great to hear in a particular. If like it's something that any entrepreneur listening any business owner any person listening critique away about managing through crisis with humility and honesty true leadership with balance and so. I wanted to thank each of you for joining us today. I WanNa thank you for your resilience for your entrepreneurial spirit. I know that were inspired by by you. I feel energized on the back of this conversation. And so thank you still dairy very much. Yes thank you for having US. Thank you thank you. So much that concludes this episode of Exchanges Goldman Sachs. Thanks for listening and if you enjoyed it we hope you subscribe at Apple podcasts. And leave a rating or a comment in tune in for our weekly markets update Friday morning. We'RE LEADERS AROUND. The firm provided quick take on markets. And what's going on in the economy? This podcast was recorded on. May Eight two thousand twenty all price. References and market forecasts correspond to the date of this recording. This podcast should not be copied distributed published or reproduced in whole or in part the information contained in this podcast does not constitute research or recommendation from any Goldman Sachs entity to the listener neither Goldman Sachs nor any of its affiliates makes any representation or warranty as to the accuracy or completeness of the statements or any information contained in this podcast and any liability therefore including in respect of direct indirect or consequential loss or damage is expressly disclaimed. The views expressed in this podcast or not necessarily those of Goldman Sachs and Goldman Sachs is not providing any financial economic legal accounting or tax advice or recommendations in this podcast. In addition the receipt of this podcast by any listener is not to be taken as constituting the giving of investment advice by Goldman Sachs to that listener nor to constitute such person a client of any Goldman Sachs entity..

Goldman Sachs Us Exchanges Goldman Sachs Jimmy co-founder Land Bridge burglary Apple Michael Founder business owner Dana Maria
Which Companies Won't Survive the Pandemic

Motley Fool Answers

05:22 min | 2 months ago

Which Companies Won't Survive the Pandemic

"Which companies are least likely to survive the financial fallout from the corona virus and Bro recounts yet another painful and baffling week in the global economy and stock market. All that and more on this week's episode of Molly Glances Bro. What's up the stock market? Of course make any well. Let's review what happened during the first week of May ending on May eighth so the S&P five hundred was up three point five percent for the week so at this point it's only down nine point. Three percent for the year. Nasdaq even better up. Six percent for the week that puts in positive territory for the year so during one of the worst economic downturns ever. The Nasdaq is up. Almost two percent small caps also had a good week. Five point seven percent but they're still down sixty percent of the year international stocks up three percent but down eighteen percent of the year and boring old bonds or down slowly stat. Were down slightly last week but up five percent for the year so if you're looking at your portfolio it's mostly all good news. The badge news from last week came from the monthly employment report. So we've been talking every week about job losses. Those are actually figures of the number of Americans filing for unemployment with the state's the last Friday the US Bureau of Labor statistics otherwise known as the B. L. S. announced the official employment numbers for April and these figures are based on surveys of tens of thousands of households and employers. Just to get an idea of how many people are working how people how many people are not working and let me tell you. It Ain't pretty for the month or twenty million. Americans lost their jobs. Driving the unemployment rate up to fourteen point seven percent now. At least that's the figure you probably saw if you pay attention to the financial media however the actually releases six unemployment rates every month the one that most of us here about in the media that fourteen point seven percent in April is technically known as the Youth Three. It measures the number of people out of work and the people looking for a job. But think about that second part and ask yourself how many unemployed people are looking for a job right now. The fact of the matter is millions of Americans have put their job searches on hold because know they probably wouldn't be able to find a job or they don't feel like it's safe to look for a job and then there the Americans who've had hours cut back so essentially there are millions of Americans who are working part time. They wish they could work fulltime but they can't actually. Uncle Sam has a number that captures all of these people as well it's known as the U. Six and it led to twenty two point eight percent. Wow last month. So it's the highest just about the highest ever when you look back at the great recession of two thousand to two thousand nine. The highest rate was just seventeen point six percent and it took more than a year to get there yet during this pandemic panic and only took two months to get there and it's really the worst we've seen since the Great Depression. Add to that. Another five percent of the workforce that was categorized as quote employed but absent from work and some people are furloughed but some of those people probably should have been considered unemployed. You add that and you can see why Treasury Secretary Steven Mnuchin said on Fox News this weekend that the real unemployment rate is likely closer to twenty five percent. It's probably going to be even higher in May. Now if you dig a little bit more into the report every major sector lost jobs with the heaviest losses coming from leisure and hospitality where forty seven percent of the people were laid off that wipes out all the jobs created in that industry since nineteen eighty eight according to the Washington Post the sector of the fair. The best were utilities. Lost thousand so if you want job security contact the water company or the electric company or something like that. There was some good news that least seemingly good news on the surface in the report and that was average hourly earnings increased. Five percent believe it or not people making more money but the report pointed out. The reason that is true is because most of the people who are losing their jobs and not calculated in that are lower income employees so the reason it earnings went up is because it took out all the lower income folks at least the lower income folks who lost their jobs. How are American households reacting to all this gloomy employment news? While they're here is some genuine good news in March. The personal savings rate jumped thirteen point one percent that is the highest rate since the nineteen eighties. Americans are borrowing last. According to Federal Reserve Total. Consumer credit fell three point. Four percent on an annualized rate. That's the first decline since two thousand and eleven so good job America doing the smart thing and then finally despite the downturn in the economy Goldman Sachs predicts that disposable income will go up this year. Thanks in large part to the government stepping in to make up for what many people have lost sell from their research. Report quote combining forecasts of Labor income corporate dividends proprietors income interest rental income and tax cuts and government payments. We project that total disposable personal income will increase by zero point five percent in two thousand twenty which is pretty remarkable. You think about it.

Molly Glances Bro Goldman Sachs Us Bureau Of Labor Washington Post Fox News Federal Reserve Total U. Six America Official L. S. Steven Mnuchin
Stocks Fall on Recovery Fears and China Tensions

KYW 24 Hour News

00:34 sec | 2 months ago

Stocks Fall on Recovery Fears and China Tensions

"Of those money news down K. Y. W. we check in with Tom Busby a Bloomberg data they Brandon will economists from both Goldman Sachs and Morgan Stanley now say there is evidence of the world economy is starting to recover from the corona virus and all the rules restrictions placed on businesses and consumers but with about four minutes ago ahead of the opening bell on Wall Street it doesn't look like it Dow futures down two hundred eighteen point stocks long track to extend the losses we saw Thursday and Friday that's after president trump accused Beijing of creating the corona virus in a lab and then covering things up when it got out China denies the

Tom Busby Brandon Goldman Sachs Morgan Stanley Beijing China Bloomberg President Trump
How to Get a Job During Hard Times | Ep

Marketing School

04:54 min | 2 months ago

How to Get a Job During Hard Times | Ep

"Or super committed to your success online. We've worked with them. To a special offer just remarking school listeners. All you have to do is go to dream. Host DOT COM slash marking school to learn more and get your website online today. Welcome to another episode of Marketing School. I'm Eric Su and I'm Neil Patel and today we're GonNa talk about how to get a job during a hard time. So Neil do you WANNA give people recap of what at least United States unemployment has reached as of April third twenty twenty years. Sure so there's a bit less than seven million people that have just become unemployed and for the rest of the April by the time you listen to. This'll be towards the end of April. It looks like the unemployment rates are just going to get much much worse than this summer saying that in the United States alone there'll be more than ten percent unemployment rate which is thirty to forty percent. I heard Goldman Sachs a ten percent. I've heard some people say fifteen twenty percent I see the numbers ranging the problem with how they calculate unemployment is. It's not as simple as oh. You don't have a job like if you've been unemployed for over six months. They considered you not unemployed. They considered you. You Stop Looking. Which isn't accurate. Either right so it depends how they wanNA end counting you as unemployed or employed so actionable things in terms of what you can do during hard times right now. So what now better than ever like? I actually spoke to someone. That's that's freelancing right. Now it just depends on what you're doing maybe doing advertising. It's hard to say. Oh I'M GONNA go get clients right now but if you do want to get a job right now. They're a lot of people are still hiring and I will say that there's actually a in Silicon Valley. There's all these starts posting whether they're hiring or laying people off or Amazon hiring a lot. Cbs's Walgreens is is the biggest lead at three hundred fifty thousand but those are some of the people that are hiring Walmart. I believe this hiring like crazy right now. Well but then let's think about these other sites that let's say you have marketing skills or web design skills or whatever. There's a ton of remote job sites that you can go to we work melting DOT com. There'S UPWARD DOT COM. There's freelancer dot com and at the same time. Lake for you right now. Now's opportunity for you to shine. Let's say you're looking for paid opportunities but you have free time. Now's an opportunity to reach out the people that you look up to whether it's through instagram diem or emailing them and saying look. I know what you're going to right now. I'm willing to do some stuff and Neil talk about this. All the time is working for free for a small period of time building up that report quickly and then you know getting into some type of pave engagement. Now's the easiest way because people aren't making that much right now but they could use to help the easiest way to try to find a job right now is looking at skill sets. You have go find any venture funded company that's been funded recently. Because I mean they're flush with cash crunch base has a big list of them and go email the CEO the founder and the investors. What they're doing wrong and how they can fix it and lay it out in step by step instructions at the end just being like look best selecting this if you need help and you're looking for to hire someone. I'm open for a job. This is exactly tied to your point. Neil so sorry. Sorry for interrupting but go to candor dot co slash. Hiring Dash freezes. These are all the silicon valley companies. And there's a lot of green in here. You can sort by hiring hiring freeze and layoffs but yet in go hit up those companies that Eric just mentioned on that you are all candor dot co slash hiring freezes and go hit a ball those companies. Tell them what they can do to improve. And I bet you you'll find people willing to hire you. That's what I used to back in the day even during the last recession. And if you do that you can do quite well. You may not get the prime job that you want but hey something's better than nothing right. We can't be to choose at this point. So this is actually. We're talking about in in the last episode. I'm just amazed by this because they're sharing data and they're showing based on what categories who's actually high more and who's actually counting a bunch right for

Neil Patel Eric Su United States Marketing School Goldman Sachs Silicon Valley Amazon Walgreens Walmart CBS CEO Founder
Philadelphia, Goldman Sachs announce $10M PPP fund for small businesses

KYW 24 Hour News

01:03 min | 2 months ago

Philadelphia, Goldman Sachs announce $10M PPP fund for small businesses

"Philadelphia's small businesses will get another crack at federal funding to keep workers on the payroll city officials officials announced announced a a new new poll poll of of ten ten million million dollars dollars earmarked earmarked for for the the city city as as they they released released new new co co bid bid nineteen nineteen numbers numbers that that show show no no end end in in sight sight for for the the stay stay at at home home measures measures the latest now from K. Y. W. city hall bureau chief Pablo there Jim Kenney says Goldman Sachs will provide the SBA loans for businesses that have been unable to get payroll protection money through other lenders with a focus on marginalized communities the loans are going to be used for they will cost interest interest on on on mortgages mortgages mortgages rent rent rent utilities utilities utilities gamut gamut gamut he he he also also also announced announced announced new new new grants grants grants to to to nonprofits nonprofits nonprofits through through through the the the PHL PHL PHL covert covert covert find find find ended ended ended delay delay delay in in in the the the real real real estate estate estate tax tax tax deadline deadline deadline till till till June June fifteenth he says more will be needed to help the city recover from the stay at home measures intended to prevent the spread of the virus health commissioner Tom Farley says the measures have been working but the city is still not seeing a decrease in new cases are leveled his comments that we're are continuing progress stop the increases that we saw early on but still with hundreds of cases being diagnosed every day we're still in the thick of

Philadelphia Bureau Chief Pablo Jim Kenney Goldman Sachs Tom Farley K. Y. W. City Hall SBA Commissioner
Google is working on its own debit card (again

This Week In Google

04:24 min | 2 months ago

Google is working on its own debit card (again

"In our never ending quest to find stories to talk about Because as you know times have changed and there's not a lot of news but there is some Google news. Google is according to the verge working on. Its own debit card. Now the weird thing is Google used to have a credit card. I remember getting. They stopped at two. Google this is. This is short-sighted from High Garden Berg. They're coming back although it wasn't a debit card and I guess the Apple Card which is Goldman Sachs Bank Which is Weird Phantom? I don't know I don't know you have to have a certain credit rating to get it. No well wasn't there a big kerfuffle around getting it women not getting a couple of Steve Wozniak and David Heiner Meyer Hansen who created ruby on rails. Two well-known D.C. Icons both said I got a much better credit limit. Then my wife who has my same finances because she's my wife but anyway apple says. Yeah well we talked about this. The ways of the credit score are varied in mysterious. That apple said okay. We'll fix that. Lisa got a better credit limit than I did on mine. So some prizes based on your personal credit I would guess yes exactly. Yeah and if you see under sixteen hundred dollars thermo mix exactly exactly. Google wants to Google branded smart debit card Actually the apple cart which I've had for a while works quite well. You get cash back. The Nice thing is tied to the watch which is kind of something I guess Google Google has android wear but does anybody where android wear but the idea of a close eventually. Maybe it does have me. Yeah so nowadays. Not Touching money or credit cards but Attack at the grocery store if you have to go to be Embraced so maybe that's maybe this is a Cova thing. I don't know Came into our meeting thing because data thing you're right so you can get a lot of information and like facebook even has deals with credit card companies to to say. Hey what are people buying? So I think Google's like oh I would love to know and about tying that back possibly advertisements you could actually say. Hey this since saw this ad. They already do that their they already do that. Yeah but the so they have google pages like apple pay and Samsung Pay But the normally those work by you attach your existing credit cards to it. So what's different about Apple's credit card is you can use that as your primary payment. Apples is actual charge card. It's a credit card. You rack up a bill. You pay it in the month. The Google supposedly. According to the verges a debit card. They're going to partner with city Stanford Federal Credit Union. It's visa but most debit cards are either visa or MasterCard But it but it will take it right out of your bank account as opposed to adding up the charges till the end of the month It will do virtual card numbers. That's one of the real selling points on the apple. Credit Card is that the merchant doesn't get any information about you They don't even get your credit card number they get a token and they don't get your address your real name or any of that stuff and of course merchants hate that. Google apparently wants to do the same thing. But you know who gets the information apple and Google in Google's case so it's not like they're giving up any information customers will be able to use the Google play APP to lock their card in the event of theft or loss according to the verge or lock the account entirely Google Zap reportedly and there is a picture of the APP so this leak is pretty well. Sourced will reportedly allow customers to easily track purchases using Google maps and its database of retailers. Would you get goal Debit Card or not?

Google Apple Stanford Federal Credit Union High Garden Berg Steve Wozniak Facebook Goldman Sachs Bank David Heiner Meyer Hansen Lisa Sourced Partner Theft Samsung
"goldman sachs" Discussed on Exchanges at Goldman Sachs

Exchanges at Goldman Sachs

06:35 min | 2 months ago

"goldman sachs" Discussed on Exchanges at Goldman Sachs

"The cusp of seeing a little bit of a change in millennial habits in terms of home by any changes. Come out of this crisis longer term difference in in those trends. I do ends MED. L. Point back to two thousand eight in two thousand eight saw large number if Americans decide that. No maybe borrowing a bunch of money and buying a house is not the best investment. I think you may see the opposite effect. This time around. I mean by that is. There's a view that this could be the catalyst that pushes a large number of millennials out of the city centers and into the suburbs. And I do think an additional accelerate of that trend is going to be in the fact that working from home has become easier and more accepted and therefore being in a city centre is less relevant. I would say the other trend. Expect to see more on the repair and remodel side. You've got a large number of folks who are spending more time in their homes than they ever used to and they're working around what they don't like what they may want to improve. So I expect the real spike and remodeling spending coming out of this crisis by one year of the home. Were that would be particularly acute. The outdoor living expenditure was a place that was already growing at more than overall repair amounts so another trend. Obviously pre-crisis was that we're seeing smart homes more technology and innovation in the building sector in the home we used to continue as a result of the crisis or may be accelerated. I do think it's going to continue and I think you're right. It could even accelerate in when you look across industrial and markets the real ubiquitous theme. We've seen over. The past. Twenty years has been increased technology in. You'll get your own car. I think that's probably the best example. How much incremental technologies in the car? More so than it was ten years ago. One laggard has really been construction and when I think about interesting innovation and technology around the all it's really all sorts of different things. It's material replacement so companies replacing traditional would use in decorative trim of a home with more environmentally-friendly durable materials. It's in-home technologies. One of my favorites is electric windows. Which are windows that automatically change in tent? Which dramatically changes the experience? The in terms of you don't need lions and that sort of thing and also changes just the energy efficiency of all and then lastly you're seeing changes in the way that homes are actually taking more of the construction moving it offsite making it more efficient taking some of the Labor out of it. I think you're GONNA see that. Trend really emerge. You brought something interesting. Add more specific. Which was the connected home. I think the connection homemade is quite interesting when I talked to my building products clients because consumer standpoint is exceptionally important. But it's really a trend. That's being driven by big tech like Amazon and Google to Walmart. Clients know that they have to play in that ecosystem and they have to be relevant the reticent to really try and lead that movement giving your competition seeks to be other building products manufactures and starts to be very large. Very well capitalized. So I'll see. How do you view your role? It's changed a little bit. There's as much emanate only on which which you roll now is sort of a deserter to clients today compared to normal state business when this crisis are started the focus was really distilling all of the information that was out there about the virus known about the implications of the virus into what was most relevant and most critical to our clients. The next stage was really on a client by client basis doing downside scenario planning understanding their liquidity and making sure that they were in the position to weather of could be very off downturn. Now that we're in a situation where I think we all have a much better understanding at least on the rage of awesome Outcomes of this crisis its return to more strategic dialogue and frankly more traditional doesn't make a log which is was issue of capital and the allocation of capital so appliance or still concern and they're still downside scenario. Planning we are going to have bigger discussions about. What should you be doing differently today than you were doing free crisis to make sure that you meet your strategic objectives lessons someone hopeful note? We like to close on. Aol Personal. I ask all I guess what they've been doing a little differently these days anything. You've been doing this little different than the way you're living before the crisis. So it's it's a good question. I been trying to keep a lot of my typical routine. One thing I added which was actually the recommendation of a client is. I've been reading. Warren Buffett shareholder letters dating back to nineteen fifty seven and working with them chronologically. And I think it's been. It's been interesting for two reasons. The first is that it's just a great history. Lesson hearing what was going on in the US economy generally in the market specifically from the perspective of someone who is experiencing them at the time. And then to it's a good reminder that while we haven't seen this unique set of facts before we have seen similar crises and we weather through. We've come out the other end stronger so it's also kind of a hopeful message that we will get through this as well. Yeah History repeat but it often rhymes. Thanks for joining us today. Turn is great conversation. Thank you so much. I really appreciate the time that concludes this episode Exchanges Kazaks. Thanks for listening. And if you enjoy the show we hope you subscribing apple podcasts and leave a rating or a comment in tune for a weekly market update. Friday morning where leaders around the firm provides their take on markets in. What's driving the new volatility? This podcast was recorded on April. Twenty twenty twenty nine All price references market forecasts correspond to the date of this recording. This podcast should not be copied distributed published or reproduced in whole or in part the information contained in this podcast does not constitute research or recommendation from any Goldman Sachs entity to the listener neither Goldman Sachs nor any of its affiliates makes any representation or warranty as to the accuracy or completeness of the statements or any information contained in this podcast and any liability therefore including in respect of direct indirect or consequential loss or damage is expressly disclaimed. The views expressed in this podcast or not necessarily those of Goldman Sachs and Goldman Sachs is not providing any financial economic legal accounting or tax advice or recommendations in this podcast. In addition the receipt of this podcast by any listener is not to be taken as constituting the giving of investment advice by Goldman Sachs to that listener nor to constitute such person a client of any Goldman Sachs entity..

Goldman Sachs Warren Buffett US apple Aol Amazon Google Walmart
Apple Shares Dip as Goldman Predicts Big Drop in iPhone Sales

News and Perspective with Taylor Van Cise

00:19 sec | 2 months ago

Apple Shares Dip as Goldman Predicts Big Drop in iPhone Sales

"Is it time to unload apple stock Goldman Sachs thinks might be having predicted that thirty six percent decline in iPhone unit demand for the second quarter the firm lowered its earnings estimates for the tech giant for a third time in two months and downgraded its rating on the stock to sell apple's shares today fell one and a third percent

Goldman Sachs Apple
Big Banks, Airlines, March Retail Report

MarketFoolery

11:15 min | 2 months ago

Big Banks, Airlines, March Retail Report

"It's Wednesday April fifteenth. Welcome to mark. I'm Chris Sale with me today. The one and only Andy Cross could see my friend. Hey Chris how're you doing in there? I got coffee. I'm good good to we got. We got a lot going retail. We've got airlines. We'VE GOT ENTERTAINMENT. But we're GONNA start today with the big banks because it's earning season and the as an industry. The big banks sort of lead the way Goldman Sachs and Bank of America both out with first-quarter reports Goldman Sachs profits down. Forty Nine Percent Bank of America can take some small solace in the fact that their first quarter profits. Were only down forty five. Yeah it's it's the real headline I think from the banks. Chris is just the reserve the loan loss reserves. They're taking now in this quarter so when you look across almost all the banks. That's been the biggest hit to the prophet picture. The revenues were somewhere in the flat. Picture for example Goldman revenues were flat. Gp Morgan's revenues were down like three percent wells. Fargo was down down about eighteen percent so the revenue lines weren't such the concern. It was really much more profit picture as you mentioned. And we're just seeing that show up in the earnings per share of these companies but the biggest part for that or these loan loss reserves that these companies have to the banks have to set aside in the expectation that the economic crisis. The pandemic that we're facing is going to cause some of their clients both on the consumer side and the commercial side to not pay their bills and so they had to set aside reserves for that. So when you just look at like what happened with with Goldman their earnings down forty six percent and they set aside nine hundred thirty seven million dollars this quarter. That's almost as much as they sent. Set aside for all of two thousand nineteen and that's four times the amount that aside in the first quarter of two thousand nineteen and you see the same thing across all of the the big banks. Gps set aside an additional six point. Eight billion dollars. It's four point. Four billion in the consumer side mostly for cardholders and the rest on the on the commercial side and across the entire company. That say this is ten billion more in reserves than a year ago. So you're seeing these banks really start to ramp up their preparation for what they expect to be. A very tough market of the next year I would also think in the case for every one of these banks has an investment banking arm. Goldman Sachs is the clubhouse leader and I would think that as we are in this environment where it's really hard to imagine any company going public in the next say at least two months Probably closer to four to six months That's one more thing that a bank like Goldman Sachs has to worry about. Yeah Chris absolutely right. So there's just these very high margin parts of their business that are going to start to see. Oh the fluctuations if not complete drops because that market has really started to soften. What's interesting on the Goldman side and Goldman's really going through this this reform under the new? Ceo Their new their new CEO. The bank is really kind of struggled. It's such A. It's such such known as such a class name in the banking space but the stock has actually struggled and the returns on equity have actually trailed their peers over the last few years. There's a real push by the new. Ceo David Salman to start to really invigorate Goldman Sachs again. So we had this whole plan when he became. Ceo after Lloyd Blankfein just recently and then obviously the pandemic hit so but a bright spot to Goldman or big part. Their business has always been there. Trading revenues and. That's actually been kind of a little bit of an Albatross for them over the past couple years but that actually was a bright spot in the first quarter of the same thing with J. P. Morgan Goldman's trading revenues were up twenty eight percent and JP Morgan is trading revenues. Were up thirty two percent so because of all the volatility because of all the frenetic trading activity were seen in the markets from both institutional clients and consumer clients for the big banks. It's mostly institutions were. We saw these results pop up for some of these. Larger banks like Goldman G. P. M. So that's that was one small bright spot in a quarter. That obviously is showing a lot of pain. Jp MORGAN LONG-SERVING CEO. Probably the most respected name and finances. We've talked about Jimmy Diamond. Chris who had suffered a emergency heart surgery a few months ago and came back to the job right in the middle of the as the pandemic starting to really get going. He put out his earning his his His annual letter. He talks about every year and really try to set the tone for the market ahead of what we the financial institutions and banks will see over the next year because there's obviously a lot of concern With just the just the plumbing and the financial picture of US banks. Let's move on to the airline industry because several airlines including Delta American jet blue and southwest have said that they have reached agreements with the US Treasury Department on part of that twenty five billion dollar plan for payroll grants. Obviously this is Good news for those airlines and The people who work there but it really does seem like this. I don't WanNa call it a band aid but it seems like it is a A relatively short bridge. That'll get them through the next couple of months. Hopefully but all the airlines really seemed like they have their work cut out for them Chris. I think I think bridge a bridge. If not band aid bridge I think is a good term apropos because So of the two point two trillion dollar in the stainless package that was signed into law. Last week were in late March. Now the the airlines are starting to work with the Treasury Department to figure out how they can access that and both in grants and loans and as you mentioned a pretty much all of the airlines all the major ones are going to start tapping into this and this is obviously Anita step for businesses. That are really struggling. You're seen bookings that are downed. Seventy ninety percent capacity in the company these companies have they have taken capacity out from their business both domestic and international. So it's really started. There's a heavy fixed cost and these businesses and when they have nobody flying and nobody buying tickets especially business travel which is really slow down. You're starting to see it now. Show up in the potential future of these businesses. But back to your bridge comment. I think these the airlines when I look at almost all the industries that operate and you think about the recovery patterns. I don't know if we're going to be in a v-shaped recovery or more of a U. shape slow growth recovery of both in the US and worldwide. But I do think. The airlines travel companies of all the industries. They will really be in the most flat shape recovery and I think it'll take a while for consumers to be able to come back into the travel mode get used to going back into airplanes. Get used to going back into airports. Airports Basically over the last ten twenty years have become big retail destinations. And you're seeing now foot traffic in the airports drop off a cliff and that's hurting the retail establish establishments inside these airports so that industry is just going to go along a long way to recover. They they needed this. They needed to be a tap the US government to help them support their business. Because without that you would see massive bankruptcies in the Industry Savan to the retail industry because we got the march retail report. And it was. I think every bit as bad as we were all expecting retail across the board down eight point seven percent in the month of March. That is the worst in history. Worst drop in history and context third on the list is the drop in retail that we saw in November. Two thousand eight and this was more than twice as bad in terms of percentages. And you start going through this. And the and of course the lone bright spot is grocery stores up around twenty seven percent but some of these other numbers in here you look at clothing and clothing accessory down. Fifty percent motor vehicles down twenty five percent. These are not but I kind of like we saw with the monthly jobs report for March and we knew that it was much worse because it really the only started They stopped collecting that data mid month. Same thing with retail. I mean I'm looking at one of my thoughts when I was going through. The march retail report was my God. How much worse is April GonNa? Because then we'll have a full month of this crazy was really devastating report. I guess not too surprising considering what we had seen in in late February and obviously there's our own consumer behavior but just for some context first of all that eight point seven percent number. Chris you mentioned is just a drop from February. So it's a month over month seasonally-adjusted number but historically that if you go back. They've collected this data since nineteen ninety-two if you go back. Usually that month-on-month change is in a small less than a percent change so the average is about point three five percents. So it's it's pretty tight. It's a very tight range. You're talking an average of point. Three percent with a standard deviation so changed from an average of less than a percent. So you really talking a very tight range here. You're talking last month. We saw a drop of eight point seven percent so it's significant compared to the average and not in way outside this the norm of what we see the last few decades so like you mentioned the worst number before this was in the great financial crisis when it was when when the number of fell three point eight and three point nine percent back to back. So we're talking twice as much as that drops it just context that about how significant this was just knowing wh- how we have changed as consumers. It's really pretty. It's evident and now we're seeing a show up in the number so as you mentioned some of the areas really got hit just really just a very significantly and then you see you see spots like grocery stores actually have a very significant ramp because as we continue to spend more and more at the groceries try to stock up in preparation for the quarantine that we are all facing and now still face and then you see things like food services and drinking places down twenty six percent from the month before and obviously just showing there that the real impact and that's having ripple effects because when you talk about ten to twenty percent of the global of the US employment is somehow tied to entertainment travel that area getting back to our airlines business.

Goldman Sachs Chris Sale J. P. Morgan Goldman United States CEO Goldman G. P. M. Jp Morgan Andy Cross Bank Of America Ceo David Salman Gp Morgan Us Treasury Department Fargo Lloyd Blankfein
Wall St. tumbles on gloomy economic data, bank earnings

Bloomberg Surveillance

00:53 sec | 2 months ago

Wall St. tumbles on gloomy economic data, bank earnings

"Funny individual stocks and starting with those bank earnings issues David Wilson David what do you have well bank of America's down four percent in early trading town the banks first quarter results show net interest income fell two percent reflecting lower rates the bank set aside four point eight billion dollars to cover loan losses and deferred payments for about a million consumers through April eighth Citigroup also down four percent net income for the first quarter trailing was average estimate in a Bloomberg survey even though revenue from bond currency and commodity trading was a high since twenty twelve cities result included seven billion dollars in loan loss provisions Goldman Sachs down three and a half percent first quarter profit of the bank fell forty six percent has the value of its investments dropped eight hundred and ninety million dollars and the artist by the way also came up short of estimates JP Morgan and Wells Fargo which had a result yesterday also down three and a

David Wilson David Citigroup Jp Morgan Wells Fargo Bank Of America Bloomberg Goldman Sachs
Dallas - New Program Launched To Help Small Businesses In Texas Hit Hard By Coronavirus

KRLD News, Weather and Traffic

00:21 sec | 3 months ago

Dallas - New Program Launched To Help Small Businesses In Texas Hit Hard By Coronavirus

"Science to begin re opening some businesses are expected later this week there's also another economic lifeline for small businesses coming from Goldman Sachs fifty million dollars in loans these loans will ensure that rather than having employees fired those employees in Texas will remain in Austin Chris fox news radio ten eighty

Texas Goldman Sachs Austin Chris Fox
Stocks fall as investors brace for earnings hit from virus

Bloomberg Businessweek

00:28 sec | 3 months ago

Stocks fall as investors brace for earnings hit from virus

"Stocks were mostly lower though the market cut its losses near the close investors are nervously awaiting the start of first quarter earnings season that Jones industrial average fell three hundred twenty nine the S. and P. five hundred dropped twenty eight the nasdaq composite climbed thirty nine despite today's weakness Goldman Sachs things we've seen the worst of the coronavirus selloff it says the market is unlikely to make new lows as long as the virus doesn't make a resurgence as the economy

Jones Goldman Sachs
"goldman sachs" Discussed on Exchanges at Goldman Sachs

Exchanges at Goldman Sachs

04:32 min | 3 months ago

"goldman sachs" Discussed on Exchanges at Goldman Sachs

"Hope. Yeah honestly a lot. I you know Catholic community. I actually think that there's a huge opportunity. Ultimately to streamline emergency food services you know if we can get excess food that was normally thrown in the trash directly to restaurants and have some of them you know produce catered meals for nonprofits at one could be an extra revenue source for restaurants which I know F- in New York City is is is more than needed. The quality of the food could go up and we real chance to change things for the better. So that's what keeps us going to rethink? That's what keeps us. Optimistic is that I think when the dust settles will actually be. It'll be really challenging but we're going to be locked with a more efficient a food system which had a lot of problems going into this thing. I now on our clothes with you. Where are you seeing some hopeful thoughts you know? I have to echo everything that was said by Aaron and Matt And at the end of the day it's you know. How do we define our community? I guess it for us. It's been The local you know people who are skier in wrapped around US everybody from our landlord who has been extremely helpful in terms of giving us a breather on grant. Our governor has worked really hard to keep as many businesses open as possible the customers who have been with us for years prue you can afford to buy their purchasing with us now and that support is huge and honestly the move we had to make in the last week to try and enter in entirely new business and deal with the registrations and everything else. I can't even tell you how many people have helped to this just network that we've been fortunate myself Lunde we've built this network of people over the years and now that we had to figure out. How can we repurpose ourself to keep our people employed by working on face shields? Everybody is jumped in to make a call to a hospital really. It is honestly that how many people have just jumped in to help and not the least of which truly has been Goldman Sachs where they've been in a tremendous resource for us where we said. We don't know who to talk to. How do we actually get set up with our FDA REGISTRATION? Where do we go to get going and make certain that if we're operating we're operating in a way that is going to be safe and sustainable as we head into the coming weeks to Kobe? And all I can is. These people have been incredibly helpful to us. Thank you earn. Thank you Ellen and Matt Thank you. All of us joining us today and best of luck because he continued to navigate with a very challenging environment. That concludes this episode of exchanges. Goldman Sachs thanks for listening and if you enjoyed this show we hope you subscribe at Apple podcasts. And leave a rating and comment but more importantly do what you can to support these small businesses today in tune in for a weekly markets update Friday morning. We're leaders around. The firm provide a quick take our markets. What's driving the car volatility? Thank you this. Podcast was recorded in two segments. On March thirtieth. Nato third twenty twenty all price references and market forecasts correspond to the date of this recording. This podcast should not be copied. Distributed published reproduced. In whole or in part the information contained in this podcast does not constitute research or recommendation from any Goldman Sachs entity to the listener neither Goldman Sachs nor any of its affiliates makes any representation or warranty as to the accuracy or completeness of the statements or any information contained in this podcast and any liability therefore including in respect of direct indirect or consequential loss or damage is expressly disclaimed. The views expressed in this podcast or not necessarily those of Goldman Sachs and Goldman Sachs is not providing any financial economic legal accounting or tax advice or recommendations in this podcast. In addition the receipt of this podcast by any listener is not to be taken as constituting the giving of investment advice by Goldman Sachs to that listener nor to constitute such person client of any Goldman Sachs entity..

Goldman Sachs Matt And US New York City prue Lunde Nato Kobe FDA Aaron Ellen Apple
Stocks on track for worst quarter since 2008

KRLD News, Weather and Traffic

00:23 sec | 3 months ago

Stocks on track for worst quarter since 2008

"You want stocks of falling one percent on the last day of the first quarter and we're on track to lock in the worst quarter since the last financial crisis in two thousand eight Goldman Sachs predicts the economy will shrink by a third in the second quarter that begins tomorrow it's economists also expect the unemployment decline to fifteen

Goldman Sachs
"goldman sachs" Discussed on Exchanges at Goldman Sachs

Exchanges at Goldman Sachs

10:52 min | 10 months ago

"goldman sachs" Discussed on Exchanges at Goldman Sachs

"This is exchanges. Goldman Sachs where we discussed developments curly shaping markets industries in the Global Economy Jake siewert global head of corporate communications at the firm today. We're talking about what it's like to be Goldman Sachs in turn and how employers are trying to keep up with what younger generations want from a work environment to do that. We're talking to college. Seniors who Internet Goldman Sachs's Sachs's past summer and we'll be returning fulltime analysts next year as well as owner very own head of human capital management Dane Homes Catherine Rebecca Ending deign welcome to the program so much so this is for everyone briefly introduce yourselves where you from. Where do you go to school or did you go to school Tom. In what part of the bank will you interning in this past summer dangerous. Give us a quick. Take on your role here at Goldman. Sachs so my name is Catherine Doar VIZSLA. I'm from about an hour north of the city in Putnam County. I'm a student at Brew College here in the city and I had the opportunity to intern in the Securities Division this summer rotating on a few different teams within prime services. My name is Rebecca Scheiner. I am a super senior issuing university which is here New York City where I'm double majoring in accounting and finance but I am from Chicago and this past summer I was interning on the Jess Bank Alyce team and the Control Division here at the firm. I'm dain homes as was mentioned a head of HR. I guess in the small world connections I was born in Chicago. I went to University of Columbia Columbia New York so I don't know we're all all connected one way or another and I'm responsible for over activities around people at the firm leadership development okay just to set some context. We collect a lot of insights from our interns when they're here of the summer. Why do we do that. And what did we get out of that experience of listening to our interns over the course of the summer when they're here yeah so obviously we use the old adage that you don't know what you don't know and I think in a people driven business. It's very normal to fall into the trap of saying Oh. I know what it was like. I was an intern. You might have been a long time ago. When you're using an abacus. It is really true that you don't. I don't know what you don't know so part of it is getting the information and what's Great. I think about the generation that we're seeing today and a lot of the people that were recruiting to the French the firm open and honest and very frank about how they're feeling about things and how they're looking at the world so it's all about being informed unfortunately if they're happy to share it with us the intern class it's the summer was the most diverse to date talk a little bit about how that classes a reflection of what we're thinking and how we're thinking around diversity inclusion here at the firm we think about diversity inclusion through a bunch of lenses one is just if you think about it from a pure where business had serves clients and whatever problem issue usually solving some problem for one of our clients dance with our we want we want a diverse set of us in the room as we try and tackle whatever that problem is and so some of that is a reflection of frankly just wanting to provide the best solutions to our clients. Another part is is that in our surveys with our interns we hear that they want a diverse population around them so part of it is reflecting the desire of what the most talented people out during the marketplace that type of environment that they wanna work in and then frankly we have a core principle that we think about which is mirrored crecy and it's hard to argue that you fully sled meritocracy talk rec- if you don't have diversity in the group of people that you're bringing in because we've obviously proven time and time again talent knows no boundary whether be gender race ethnicity sexual orientation tation so having a diverse class of me makes me feel very confident that meritocracy is alive and well one of the things we did learn from the surveys that eighty two percent of our entrance that it was important and to develop managers that foster that kind of inclusive work environment so how are we thinking about the forward strategy for diversity inclusion particularly comes to training managers. All of this starts with one caring about developing our people which means investing in them investing your time. You're knowledgeable energy. Were looking for our managers to do that. The other part is understanding understanding them and so we started this question with why do we survey. It's a little bit to understand what drives them what they're looking for and in a lot of ways that's prepare managers to deliver that to them as well so managers play play a critical role in developing people in attaching them to the firm and making them effective and the diverse population would you need to do you need to make sure that you understand all the diverse perspectives that the people have in where they come in and you frankly have to care care about what matters to them care about what they're looking to achieve and addressing that and so you know it's resulted in a lot of education. We've put a lot of investment into our learning activities to make sure people understand the different perspectives that are out there but we give people the base knowledge and then we got to make sure that they care and engage H. and invest in our people Catherine when you came here to work over the summer. Does it feel more less diverse than your schools. And what do you expect for managers in terms of how they can do a better job of making people like yourselves comfortable. Baru at least for me is a very diverse school but I would say that the difference here wasn't huge Goldman's. There's definitely making big strides in that direction and I think something interesting just to think about in terms of managers kind of enforcing or implementing more of that diversity within their team team kind of what Dana mentioned a little bit about different perspectives kind of coming in from those diverse experiences. I think is important to think about so when I think about diversity. I don't just think of race ethnicity the city religion. Maybe I'm thinking more about kind of what have those experiences taught a person. What skill sets have they brought from. There and I think that's an interesting thing to think about in the workplace given that different experiences will transfer into different skills in different ways that a person can add value at team so my experience with diversity at the firm is that the firm is much more diverse than my my school or university but that said I think that within the firm managers can best encourage and foster diversity and inclusion by using it as an invitation to conversation because I've always thought of diversity as something so much larger than simply checking off boxes like Catherine said I think you have something to learn from everybody around you and while may be easier or more natural to start that conversation with someone who seems more similar to you at the outset. I think it's equally if not more important to start those same conversations nations with the people who seemed different than you are because in my experience the more you speak to the people who seem to be different than you the more you realize that you have a lot in common and I find that you come away having learned something and I think there's something really really valuable not so both of US studying finance as you're thinking about how to choose the next step of your career after school over the things that led you to Goldman and what were the attributes you looking for in a future employer. I think for me it was really the people that was the first thing and then I was looking at so I had a wonderful experience with all of my interviewers and that was kind of the initial stop that made me realize that golden was going to be a fantastic place to work and I actually had the unique opportunity many of turning here for two summers in a row and that's exactly what I've experienced. The people are incredible overwhelmingly supportive and helpful. I've always found that there's something you can learn from from everyone sitting on either side of you and I think there's definitely something to be said about. Never being the smartest person in the room. There's always something you can learn from every single person Golden Sachs for sure in addition to studying finance. I'm also studying accounting so last summer interns in a public accounting firm and it just wasn't for me so coming into this past summer. I want want to try something a little new which is what led me to controllers actually long story how. I ended up here but I guess in some. I'm really here due to the alumni I from my school who really stopped off and became interest me and guided me this way and I'm so thankful to them but how I ended up Goldman Sachs I mean I think the name really speaks. Thanks for itself because it truly is synonymous with excellence and that was my experience over the summer. When ever I was asked come experience was going. I would explain that I felt challenged. Challenge all around challenge that I was applying the things that I learned in school to my work on a daily basis which is rewarding in and of itself challenged and that I was furthering during the things that I learned and realized how much more I had to learn and challenge because I was surrounded by the most impressive people and as incredible as has my team is at what they do they were equally as incredible as a welcoming me as part of the team and of teaching me about my role and what I needed to do in order to succeed and they really thought to it that I was successful and to me that meant a huge amount so dean when we talk about work life balance means different things to different people and this is one of the questions questions we asked the interns is interesting sixty two percent of the entrance associated with spending time with friends and family only seventeen percent associate with disconnecting at the end of the day when I was that age that's what I was connected so it's different. It's unique for each person can meet flexibility can time always helpful to understand it. What does it mean to you so I'm not surprised. Now I found the pure synergy between me and most interns for me. It's family and friends allowed to but what's interesting stain. I think for me when I think about flexibility around life. It's having the space to live your life intentionally around the things that matter to you and I know there's this this whole debate. Oh can you have an odd habit. All say to people who have a problem with saying oh you can have it on like what you're just not creative enough because there's a lot of things in the word all a- and so to me you know work like balance starts with my family. I'm a obviously a husband and father and my wife. I guess semi chose me my kids. It didn't so I have an obligation on. Yes unfair to them a burden. I have to live up to and I care a lot around my community particular ticket around African American boys. I also care a lot about a lot of the friends that I've had growing up and you know people go through challenges in your life so being able to be there when that matters an an investment. Those things is really really important and the part. That's been interesting for me. It'd been at the firm I've been able to intertwine some of that together where some of those investments with with my family or whether it being so my charitable activities have been amplified as a result of being the farm and so that's actually created a unique synergy we sometimes it can these things is one or the other but a lot of times. There's a little inter twining of the Tube but for me if I can look at architecture and design books. That's that was my made in college. I I can spend time with my kids teasing them as much as possible. Make my wife think I'm a major intelligent brilliant funny good looking delete that one takes the most work of all then then. I'm pretty good so how about for you what is work life balance mean when you think about entering the workforce full-time and and what could employers be doing better to support healthy lifestyles. I think for me I'm one of that seventeen percents I would definitely put a focus on being able to disconnect from worked just because I don't think it can be fully present with friends and family and kind of pursuing your different passions. If your mind is always at work and in order to make sure you're not burning out and you can kind of come into work the next day really add value.

intern Goldman Sachs Internet Goldman Sachs Golden Sachs Goldman Catherine Rebecca Scheiner Catherine Rebecca Chicago global head of corporate commu Putnam County New York City Catherine Doar US University of Columbia Columbi Brew College Dana Securities Division
"goldman sachs" Discussed on Exchanges at Goldman Sachs

Exchanges at Goldman Sachs

09:08 min | 10 months ago

"goldman sachs" Discussed on Exchanges at Goldman Sachs

"You also managed to travel light. You still see a lot of clients what international markets you most focus on right. Now I remember when I used to talk to Hank Paulson a lot about how he spent his time all the way back to when he was running banking and before he ran the firm and one of the things that he said to me that still sticks with me that I try to keep keeping my mind as I think about my travel schedule today. Is You have to look at where the big markets are where we can have a real impact because that's still the eighty twenty in the equation Asian of where you can really move the needle and that's still obviously the United States across the whole of the United States. It's clearly the UK it's clearly Germany France and the group of countries trees on the continent and the the major economies in Europe and increasingly it's China and Japan if I had to categorize where I'm spending the vast Madrid time it's the g seven and China at an essence. Most of my time is really spent trying to make sure our operations in the key countries are working. Well and our clients are feeling our presence and then I'm meeting eating the right people and I've got relationships with the key people that matter externally whether it's in the government or with corporations or private equity firms are large institutions and then the case of a country like China. It's really trying to figure out where we're going to go. And how are we going to build a business. And how are we GONNA get ourselves to be more important more relevant in that marketplace inside the country and then obviously connected to our clients globally connecting them back into China so you spent a lot of time at China both as someone running the Investment Bank but also as Presencio. What is is it that most business people and most Americans have a casual acquaintance of China miss when they're not spending enough time there. I think it's a multilayered country and I feel like you walk out of a meeting and they're real meeting happens after you leave when you walk into the meeting with a group of Chinese executives or government leaders and it's translated meeting and then you leave even then go have another meeting and that's the meaning you're not in and so you want to know about and so I think the key is to figure out how to know about what happened in that meeting which there's no substitute with for going there a lot and getting a sense for the nuance and building relationships where you can actually get some sense for what's happening when you're not in the room. What I experienced when I go to China is it's translated translated. It's very formal. There's not a lot of nuance to the meeting. It's a pretty staged environment and there's another set of discussions. That really is where the rubber rubber meets the road and so I think if you go there a few times you feel like oh I had a good meeting. Every meeting is a good meeting. You're not going to have a bad meeting in China because the Chinese don't like having bad meetings but there's plenty of things that happened in a meeting. That wouldn't be to your benefit if you didn't know about what was going to happen next and so I think the key is to get to a sense where a place where you've got enough of a relationship with somebody where they I can give you the nuance behind the scenes in the room. You're not in what major geopolitical issues you most focused on now. Obviously there's a lot going on in the world. It's very busy right now. But what do you think will have the biggest impact on Goldman over the longer term. If you think about the next five to ten years if you call that the longer term the U. S. China China relationship in the trade discussion but also more broadly just the broader relationship you know how it unfolds particularly given the trump administration's policy which is obviously a departure departure from prior. US policy towards China. I think that far and away has the most global implications for for Michael Sachs's implications for our business in China obviously but has implications for how multinational companies and governments react to that relationship if I had to pick one that would be it. The second is brexit which on the surface is not as big can issue but it has ramifications for the whole of the European Union where we have significant operations. We've obviously got six thousand or so people in the UK at a big presence on the continent. I think brexit is the beginning of a reset of the relationship. Rally in the European Union were thirty five percent of our business by most measures resides so that is very important to Goldman Sachs and I think to our clients I would say that'll be the second big geopolitical event that we're watching carefully so John and of course year banking career you became a counselor to some of the most successful CEOS really in the world do you misgivings kind of advisory is still get an opportunity to do it and does that background. Help help you in this current job. If I look back on my career the most fun that I've had is really sitting with CEOS and boards and chewing through difficult problems whether it's an emanate problem problem or a capital markets problem or in some cases personnel or other problem that doesn't relate to a transaction counseling clients really one of the great joys of this business and so yes. I don't get to do it as often as I used to. Do it and I do miss that aspect of it but one of the great benefits of this job by virtue of my position I actually get to interact with more CEOS and more presidents and more executives actives and important positions even I did in my prior job and so I still get to spend time counseling and now the counseling is a little bit different. It's not as much on transactions or deals roles. It's more on macro issues and things that the CEO or the executive is wrestling with it so I actually find some of those relations become even more intimate than they would have been when when I was more of an adviser on a transaction so that's been quite beneficial and sometimes I turn the tables now and I ask questions really picking their brains on how they run on their businesses so I've had numerous conversations with executives about how they run their human capital organization how they run their technology organization how they think about Silo Ization and their firms firms either think about brand how they think about technology disruption content etcetera. I found that the counseling I was doing is actually serve as a pretty good baseline flying for me too. Sometimes turn the tables and ask the questions that I know I was being asked my prior life is a banker people talk a lot about the culture of Goldman Sachs. It's hard to understand it less. You've worked here here but you've been outside the firm. Nabet inside the firm for a long time almost two decades. What are the things you're most proud of inside the culture. Where some places is that you think we need to change what I love about. Our culture is it's fundamentally grounded in respect lots of communication and a collaborative perspective people come to work here because they want to be surrounded by very very talented people that are desirous of doing important things in the world and they want to collaborate with those people to get better outcomes. We take that for granted because that's just the way Goldman Sachs's Ben for a lot of years. Most other firms have a hard time assimilating assembling that kind of culture so we've got tremendous advantages bandages. I think back to your question on silos ation and bringing the firm together one of the things that we've suffered from in the last ten twelve fifteen years. Maybe the crisis really accentuated this the notion that we had to play defense coming out of the crisis as we have gotten more balkanized we do operate in more individual units. The the firm has gotten bigger. It's more complex and more businesses. It's hard to bring people together. It's hard to tap into the vein of that collaborative ethos and actually pull it together there and go do the thing that I think everybody wants to do so. I think we have work to do there but we've got a lot of raw material to work with it. I think is great advantage. You Running Investment Bank for a while. You've made the transition now. What's been the biggest surprise going from the business investment banking division to the executive office investment banking things a great business and it's done very very well for a long period of time but the firm has a lot more complex in investment banking and so for me? The hardest part of this transition has undoubtedly Ben getting my arms around the complexity of the firm just the raw breadth of businesses that we're in of people that I have to get to know that I have to learn to both trust and have of them. Trust me you know it's just a very very broad complex firm and I'm getting my arms around it slowly but surely but it takes awhile I think you can't rush it and you have to just experience it that and you have to go through the paces and so I'm almost a year into that but I think in year two and three outfit even more comfortable than I feel today. That's far away the the toughest part of the transition. Yeah I think the thing that I've really been heartened by is I've yet to find a part of the firm where I don't see really high quality people and a really high quality organization. We've got balkanisation. We've got challenges. We've talked about in this discussion but we start with a base of extraordinary people you go all over the world you see people in every nook and cranny or any of the firm. It's a young energetic ambitious mobile group of people that want to work together to collaborate WanNa win and WanNa make Goldman Sachs as good as it can be and I want to be important in the world and relevant in the world and that again is a great advantage and we take it for granted but I think it's a great advantage when we talked about your career earlier. We started after College College but you've got a liberal arts education at one of the Great Liberal Arts Colleges in America talk about how the Liberal Arts education basically can be applied. I do a career and finances you have this feels like a plant that question because I'm a huge proponent of liberal arts education although I did say once air that if I could come back and what about an engineer that was authorized to say about that more spoke to my insecurity of not understanding all the platform that we're doing and not knowing the engineering walls I wish I did my view is you can and learn the technical stuff when you're in a job and you need to learn it. If you're smart you've got a good brain or willing to read and listen in and absorb..

China Goldman Sachs United States U. S. China China UK European Union Hank Paulson Michael Sachs executive Goldman Europe Great Liberal Arts Colleges Presencio Madrid Japan Running Investment Bank Liberal Arts
"goldman sachs" Discussed on Exchanges at Goldman Sachs

Exchanges at Goldman Sachs

03:21 min | 1 year ago

"goldman sachs" Discussed on Exchanges at Goldman Sachs

"That are changing and touching the needs of the consumers, and it's very popular among the young generation. And in addition, there's also a very vibrant community of selling online, either through the social channel or through the ecommerce giants and on there. You also see that the domestic brands are flourishing. So it's no longer the knockoffs. And the second reason it's high quality domestic yes, it's changing its high quality domestic it's different the young generation not all want to carry the same high quality, but exp. Pensive same brand products. They want to show who they are themselves. They want individuality. So you're seeing the market catering to that as well. You've spent several days in China every week and you've be doing this for two decades. More than two decades said what are some of the biggest changes you've noticed over that period? Probably too big a topic. But what are some of the ones that really stand out? I see a lot more sophistication how business people are approaching the marketplace people think strategically they think capital markets, historically, people really think about that. They think about producing a product I sell that today. The think how is the landscape changing where are the opportunities? How can I get funding? What am I missing in terms of the shareholder space to improve my own resources who should I reach out to where the professionals or the experts? So there's a lot more strategic approach and openness to embrace different ideas. And the other interesting part is emanate is actually a lot more support. Allowed an accepted. It used to be built a company pass it onto the next generation. But people changing the mindset of that. So you see over dynamism that is going on you see improve quality of companies as well as management team. And you also see that there's more willingness to change and learn I'm very impressed with particularly the big cities, but the secondary and tertiary cities are learning slowly as well. So you travel all the time what are some of the travel hacks that use to stay fresh on the road. It's tough because going every week two or three trips a week it actually you get delays of flights. So you need to learn how to spend time equality way at the airport lounges, but I've been blessed with high energy level and also very easy lifestyle sense. I can shut my eyes and get sleep anywhere. So that has been very helpful. And also, there's no time difference. So no jet lack which is very small. Art, whoever came up with the time zone. Keeping it all at one time one time. So it's relatively easy within the region. It's the cross region that becomes a little bit tricky. Well, Stephanie, thanks for joining me today. Thank you. That concludes this episode of exchanges, Goldman Sachs. Thanks for listening. And I hope you doing again next time. The spot gust was recorded on October twenty second two thousand eighteen. This podcast should not be copied distributed published or reproduced in whole or in part. The information contained in this podcast does not constitute research or recommendation from any Goldman Sachs entity to the listener, the views and opinions expressed here in should not be construed as an offer to buy or sell any securities and such views and opinions may differ from those of Goldman Sachs global investment research or other departments or divisions of Goldman Sachs bent its affiliates.

Goldman Sachs Stephanie China Art two decades twenty second
"goldman sachs" Discussed on Exchanges at Goldman Sachs

Exchanges at Goldman Sachs

03:38 min | 1 year ago

"goldman sachs" Discussed on Exchanges at Goldman Sachs

"Welcome to exchanges. Goldman sachs. I'm Jake Siewert global head of corporate communications here at the firm today. I'm here with MandA hill. Lynn and Sandra Lawson to talk about a new report that you co wrote with some other women at the firm from the global markets institute or GMI called closing the gender gaps advancing women in corporate America GMI is the independent public policy and corporate advisory think-tank for Goldman Sachs. Amanda is chief operating officer for global investment research and the president GMI and Sandra is executive director of GMI, Sandra. Amanda walk into the program. Thanks for having us. Yes. Thanks for having us. So let's start at the beginning. Amanda, why did you decide to write on this topic? And was there a particular catalyst? There's no topic that is more front of mind today than gender equality and equality in general, it doesn't matter whether. Are you open your newspaper your Twitter feed your inbox? You talk to your friends you talk to clients colleagues. This is a topic that people are focused on and not only is it a topic that people are focused on but our clients in particular have begun to ask us questions around. How do they move the needle on the issue of gender equality and promote more women inside of their organizations and see better gender related outcomes. And so really for us from an advisory perspective the principal catalyst was demand from our clients. And then of course, it's something that we find personally interesting as well. And also happens to be one of the topics that is front of mind for our society at large today, those were really the fundamental underpinnings for the reason to write the report, Amanda, what kind of feedback gotten since you publish this report. It's funny. I think there is a view that this could potentially be controversial. And in fact, the feedback has been just the opposite. In other words. Most of our clients both on the institutional investing side and on the corporate side have said to us. Yes, we understand. We're facing these issues. Thank you for talking about them. We want actually be involved in a dialogue and debate. We don't wanna be uncomfortable. Having these discussions. There's no stigma associated with it. We should be out there in the dialogue. And if you're not part of the dialogue, you can't possibly understand what's going on. So for us. It was actually a lot less controversial in very well received by our client base so far. I'm just going to guess that some of the people thought it would be caught virtual or men, actually. No, no, no, no. It was actually quite mixed. Yeah. We've really wasn't just men. Yeah. Okay. It was quite mixed. Sometimes you have to talk about things that are slightly uncomfortable. And you have to talk about them. Because if you don't talk about them, you can't resolve problems. And sometimes when you go close to an issue and talk about things like downshifting, whether it's voluntary or in volunteer. Gary it's natural for people to just get a little bit uncomfortable around that. And so I think from our perspective we wanted to be very clear that we weren't trying to take view. We were never trying to say that women shouldn't feel like they can make choices in their lives. Of course, they showed in those choices should be respected. But we wanted to be part of the dialogue and demonstrate with numbers and facts, what some of the issues are that are outside in the world, and that are facing women, but these are not only women's issues their issues for society at large their issues for men, and they can't be viewed as only being women's issues. So I would say feedback overall has been really positive so turn to the report you talk a bit about this twenty percent wage gap, which gets a lot of attention in the national press in our conversations about this..

Amanda GMI Sandra Lawson Goldman sachs global head of corporate commu Jake Siewert MandA hill Twitter chief operating officer global markets institute executive director America Lynn president principal Gary twenty percent
"goldman sachs" Discussed on Exchanges at Goldman Sachs

Exchanges at Goldman Sachs

02:36 min | 2 years ago

"goldman sachs" Discussed on Exchanges at Goldman Sachs

"Is helping. I mean, we've seen for the Italian banks, for example, non-performing loans have been coming down interest, Karsono cap, their kept lowering prefer European, allowing them to recover. So there's important reasons for this policy, but it does create risks as well. So barring unforeseen geopolitical events head is the rest of the year playing out in Europe, assuming you don't get these unforced it, even the foreseen wants the worried about once assuming that they don't get worse. It worse. We get through the Italian budget and it's relatively anoint from a modern electoral scale trade were we don't have the trade war and also that the Brexit debate comes up with a resolution, etc. All of that you would then see positive returns by European equities. Like I said so far today, it's not being dreadful from vested in Europe, but evenly had flapped performance. And I think earnings this year a lot to be non attempts and that's not too bad. It's not as impressive as the US and it's not boosted by the tax cuts. The US has had your doesn't benefit from ashtec sector. Does you don't have that pro-gross story going on, but. Temps and growth is not too bad for Europe. Next year, we expect on your about six percent earnings growth. But again, it's an environment which isn't too baffle investors. The other alternative few look at asset classes such as European bonds yields are very low. So that relative case fear equities is there if you don't see some of these risk vents come through, I think actually to do. Okay. So Sharon, how long have you been covering European equities? I don't know. I wasn't expecting that question. I should know that the easiest question twenty years or so while so how did you get interested in markets in the first place? When I did economics and economics gripe but user macroeconomics macroeconomic south, you think they'll, how can I use this in the real world? I liked the kind of fast paced environment of working at a Bank and thinking about how things could affect the company's sectors stocks, etc. That was a lot of fun. And of course, all these risks events. We talk about them in a negative sense, but they create opportunities to make life exciting. Exactly. Thanks for joining us to. That concludes this episode exchanges goldman-sachs we hope you join us again next time. This podcast was recorded on August first, two thousand eighteen. All price references and market forecasts correspond to the date of this recording. This podcast should not be copied distributed, published or reproduced in whole or in part the information contained in this podcast does not constitute research or recommendation from any Goldman Sachs entity to the listener. Neither Goldman Sachs, nor any of its affiliates makes.

Europe Goldman Sachs US Sharon twenty years six percent
"goldman sachs" Discussed on Exchanges at Goldman Sachs

Exchanges at Goldman Sachs

01:34 min | 2 years ago

"goldman sachs" Discussed on Exchanges at Goldman Sachs

"But we'd rather not have daytoday resources on this we'd rather outsource to another firm so i think there's definitely been part of the reason why outsourcing has picked up in the last number of years all right mike thanks for joining me today covered a lot of ground thank you that concludes this episode of exchanges of goldman sachs i'm jake siewert thanks for listening and i hope you can join us again next time this podcast was recorded on april thirteenth two thousand eighteen abusing opinions expressed here in should not be construed as an offer to buy or sell any securities and such views and opinions may differ from those of goldman sachs global investment research or other departments or divisions of goldman sachs and it's affiliates this information may not be current and goldman sachs says no obligation to provide any updates or changes neither goldman sachs nor any of its affiliates makes any representation or warranty as to the accuracy or completeness of the statements or any information contained in this podcast and any liability therefore including in respect of direct indirect or consequential loss or damage is expressly disclaimed goldman sachs is not providing any financial economic legal accounting or tax advice in this podcast in addition the receipt of this podcast by any listener is not to be taken as close to tooting the giving of investment advice by any goldman sachs entity or individual to that listener nor to constitute such person a client of.

goldman sachs mike jake siewert
"goldman sachs" Discussed on Exchanges at Goldman Sachs

Exchanges at Goldman Sachs

02:04 min | 2 years ago

"goldman sachs" Discussed on Exchanges at Goldman Sachs

"Some of other being a startup there yeah i guess is why i say has side against should have surprise me because you get a budget smart people and we have some very good people in the region and you tell him to make money and you give them some rules i am the follow the rules but they also develop their own way of making money and there's no reason why needs to look like the way we do it in new york the way we do it in london but i'm a big believer that there's a reason why we had the position that we have in the markets where we operate and it comes down to the cultural the way we interact with our clients the way we interact with each other the way we think about our commitments what we do and what we don't do of procedures so you name it i couldn't really be more specific but after eighteen years in the firm i guess i know whether the goldman sachs ways and i'll be happy if at the end of my tenor latin america goma sacked latinamerica looks more like goldman sachs new yorker goldman sachs london because i'm sure longerterm is going to guarantee that we're going to be able to get to the position we want to get to stay there all right i'll thank you very much for joining us today pressure thank you for having me that concludes this episode of exchanges goldman sachs and jake siewert we hope you join us again next <music> this podcast was recorded on january seventeen two thousand eighteen <music> the information contained in this recording was obtained from publicly available sources and has not been independently verified by goldman sachs neither goldman sachs nor any of its affiliates makes any representation or warranty as to the accuracy or completeness of the information contained in this recording and any liability as a result of this recording is expressly disclaimed this recordings should not be relied upon to evaluate any potential transaction goldman sachs is not giving investment advice by means of this recording and this recording does not establish a client relationship with goldman sachs

new york goldman sachs longerterm jake siewert latinamerica goldman sachs london eighteen years
"goldman sachs" Discussed on Exchanges at Goldman Sachs

Exchanges at Goldman Sachs

02:06 min | 2 years ago

"goldman sachs" Discussed on Exchanges at Goldman Sachs

"In the case of cybersecurity really important to enterprises on the earlier stage side artificial intelligence is by far the biggest area of focus there but i also mentioned robotics is another related area where you're seeing a lot of investment a lot of promise longerterm you're also seeing some real opportunities there and some of the earlier stage health care areas of focus even though those are you know in a lot of cases related to a in robotics but you've had nearly a five hundred percent increase in the amount of vc funding going into those fields and we simply never seen that much money that much new company creation go into an area and not produce some big meaningful companies longerterm all right he thanks for joining us today thanks year that's all for this episode of exchange the goldman sachs objects we hope you join us again next time this podcast was recorded on november 14th two thousand seventeen all price references and market forecasts correspond to the date of this recording this podcast should not be copied distributed published or reproduced in whole or in part the information contained in this podcast does not constitute research or recommendation from any goldman sachs entity to the listener neither goldman sachs nor any of its affiliates makes any representation or warranty as to the accuracy or completeness of the statements or any information contained in this podcast in any liability therefore including in respect of direct indirect or consequential loss or damage is expressly disclaimed the views expressed in this podcast are not necessarily those of goldman sachs and goldman sachs is not providing any financial economic legal accounting or tax advice or recommendations in this podcast in addition the receipt of this podcast by any listener is not to be taken as constituting the giving of investment advice by goldman sachs to that listener nor to constitute such person a client of any goldman sachs entity.

artificial intelligence goldman sachs investment advice five hundred percent
"goldman sachs" Discussed on Exchanges at Goldman Sachs

Exchanges at Goldman Sachs

02:02 min | 2 years ago

"goldman sachs" Discussed on Exchanges at Goldman Sachs

"You can see if the banking system considerably what the banks have paranoid about quite rightly so is losing control of the payment system so if you think about one of the functions the banks really fulfill their really at the center of the payment system for any developed economy and not puts them in a very very valuable and unique position and that's something that they count afford to lose so as you start to see these technologies get adopted if they do get adopted on a widespread basis the banks have no option other than to making sure that they are fulfilling the needs that clients that a using cryptocurrencies need richard thanks for joining us today thank you very much for having me back and that's all through this episode of exchanges goldman sachs object stewart thanks for listening this podcasters recorded on december xi two thousand seventeen all price references and market forecasts correspond to the date of this recording this podcast should not be copied distributed published or reproduced in whole or in part the information contained in this podcast does not constitute research or recommendation from any goldman sachs entity to the listener neither goldman sachs nor any of its affiliates makes any representation or warranty as to the accuracy or completeness of the statements or any information contained in this podcast in any liability therefore including in respect of direct indirect or consequential loss or damage is expressly disclaimed the views expressed in this podcast are not necessarily those of goldman sachs and goldman sachs is not providing any financial economic legal accounting or tax advice or recommendations in this podcast in addition the receipt of this podcast by any listener is not to be taken as constituting the giving of investment advice by goldman sachs to that listener nor to constitute such person a client of any goldman sachs entity.

banking system goldman sachs investment advice richard
"goldman sachs" Discussed on Exchanges at Goldman Sachs

Exchanges at Goldman Sachs

01:50 min | 2 years ago

"goldman sachs" Discussed on Exchanges at Goldman Sachs

"This is exchanges the goldman sachs i'm jake siewert global head of corporate communications here at the firm today will be discussing e s g an impact investing and we're lucky to have three very thoughtful practitioners with us he lost in helps lead goldman sachs asset management's client business in overseas both institutional clyde strategy and the divisions esg efforts scott brown is the ceo managing partner of new energy capital and elizabeth mcgovern is the program director for impact investing at the mcknight foundation thank you all for being here thinking thinking hugh your job here's the firm includes oversight of our environmental social and governance investing efforts in our asset management division that's e s chief for short and also called responsible or sustainable investing how is itchy investing different from quote unquote traditional investing in what kinds of asset classes are open to an investor utilizing this esg framework but frame it is really there are three approaches there's an approach that focuses on alignment that's where an investor asks is there a way to have greater degree of synchronicity between their values and objectives in what's represented in their portfolio the second way is integration that's where elections around the s g shoes is used to evaluate the forward prospects of usually a corporate issuer of debtforequity it's a lynn's as a portfolio manager thinks about advantageous prospects for a company and then the third dimension is impact that's generally associated with private markets where the proximity of the capital that you're providing took the corporate enterprises fairly close and your seeking a financial return but a measurable impact.

ceo program director mcknight foundation hugh lynn portfolio manager goldman sachs jake siewert global head of corporate commu scott brown managing partner
"goldman sachs" Discussed on Exchanges at Goldman Sachs

Exchanges at Goldman Sachs

01:37 min | 2 years ago

"goldman sachs" Discussed on Exchanges at Goldman Sachs

"Mm mm um this is exchanges goldman sachs objects you at global head of corporate communications here the firm today very glad to be joined by harvey schwartz harvey's the firm's president and khosi allow david solomon and before that he was our chief financial officer and before that coheaded scourge division harvey welcome to the program cheik great to be here so let's start harvey at the evolution of your careers very interesting story you want someone that people would necessarily peg as a future executive goldman sachs shows us a little bit about who you are growing up i grew up in new jersey and i definitely consider myself a jersey kid him huge fan of bruce springsteen and of course for any of my other fellow jersey folks southside johnny but you've got to be pretty deep in the weeds now the jersey bands you know like lots of kids i had my challenges while i was fourteen my mother passed away and you're in retrospect that was pretty to stabilising for me as a young person n after that my father and i both struggled and i would say overall i've found again like lots of kids my high school years were pretty difficult and the and i think it's fair to say i just wasn't the best high school system i think you would have said at the time pretty unlikely i'd be sitting here talking to you today jake that's for sure so how did you make it out of high school in onto college you ended up attending ractors how did that happen well after high school i didn't go to college right away i took off a year that wasn't some designed gap year that was basically because i done so poorly on high squat in applied any colleges.

goldman sachs harvey schwartz harvey president chief financial officer bruce springsteen jake global head of corporate commu executive
"goldman sachs" Discussed on Exchanges at Goldman Sachs

Exchanges at Goldman Sachs

01:53 min | 2 years ago

"goldman sachs" Discussed on Exchanges at Goldman Sachs

"So to deal mostly we'd issues of compliance strictly speaking my first responsibilty as chairman there they are legally prescribed routes of its of course overall sharing the board of directors i tried to help achieve all the objectives we have strategically in the firm most globally and for goldman sachs international and having been in the government which rights a lot of the rules looking at it from the perspective of a company that is complying with all the rules in the infrastructure i compliance any initial thoughts after a year here in fact today there is a lot of attention more than i was expecting frankly to issues of compliance and tuitions of regulation to issues of accountability it's amazing the time energy debt goldman sachs devotes to those issues probably some people more on the business side will say it's too much i'm told by people that are in the phone for a long time that there was a change over time but in fact i have to say for meat is quite a surprise to see how much people at all levels of the firm both in london and also here in new york along they devote the energy the commitment to these issues of compliance accountability and integrity the issues of culture of the firm broadly speaking so obviously goldman sachs survey global company but our main offices tend to be in big cities that often times are more pro globalization and maybe more liberal than the rest of the world new york city london hong kong singapore how do you think the firm arthur think of its responsibilities at a citizen all of the markets where we operate or put another way when is it the right time for us to speak out as i said earlier it depends on the gravity of these sean to seriousness i think as such we are not and should not be seen as partisan.

chairman goldman sachs new york london hong kong singapore arthur london
"goldman sachs" Discussed on Exchanges at Goldman Sachs

Exchanges at Goldman Sachs

01:38 min | 3 years ago

"goldman sachs" Discussed on Exchanges at Goldman Sachs

"I think all the players cross the value trenches have to evolve an issue a debt to the everchanging consumer behaviour and technological innovation and dues will be the leaders of tomorrow all right thank you all for joining us lisa mark patrick it's great to have you here thank you thank you that includes this episode of exchanges goldman sachs objects you're we hope you join us again next on this podcast was recorded on june twenty seven two thousand seventeen all price references and market forecasts correspond to the date of this recording this podcast should not be copied distributed published or reproduced in whole or in part the information contained in this podcast does not constitute research or recommendation from any goldman sachs entity to the listener neither goldman sachs nor any of its affiliates makes any representation or warranty as to the accuracy or completeness of the statements or any information contained in this podcast in any liability therefore including in respect of direct indirect or consequential loss or damage is expressly disclaimed the views expressed in this podcast or not necessarily those of goldman sachs and goldman sachs is not providing any financial economic legal accounting or tax advice or recommendations in this podcast in addition the receipt of this podcast by any listener is not to be taken as constituting the giving of investment advice by goldman sachs to that listener nor to constitute such person a client of any goldman sachs entity.

goldman sachs investment advice