Exclusive: Goldman Sachs to cut asset management investments that weighed on earnings
Goldman Sachs Group Inc’s asset management arm will significantly reduce the $59 billion of alternative investments that weighed on the bank’s earnings, an executive told Reuters.
Swatch positive on recovery in luxury demand from China
Swatch Group shares hit their highest level in nearly two-and-a-half years on Tuesday after the world’s biggest watchmaker said it expected a recovery in luxury demand from China.
Salesforce to cut 10% of workforce after hiring “too many people”
Salesforce Inc said it plans to cut jobs by 10% and close some offices, after rapid pandemic hiring left it with a bloated workforce amid an economic slowdown.
UAE says OPEC+ output cut was correct decision, no politics behind it
The United Arab Emirates believes that OPEC+ made the correct technical choice when it agreed to cut production and the unanimous decision had nothing to do with politics, energy minister Suhail al-Mazrouei said on Tuesday.
Exclusive: Toshiba’s preferred bidder offers price short of key 6,000 yen a share, sources say
The preferred bidder to buy out Toshiba Corp has offered to pay less than the widely regarded threshold of 6,000 yen a share, two sources said, indicating the premium for the Japanese conglomerate may not be as rich as investors had hoped.
BlackRock misses profit estimates as market turbulence spooks investors
BlackRock Inc (BLK.N) posted a bigger-than-expected fall in quarterly profit on Friday as the turmoil in the global markets shrank the world’s largest asset manager’s fee income.
Analysis: Corporate America looks for leeway on U.S. climate disclosures
Business associations for top U.S.-listed companies have pushed back against a landmark proposal by the Securities and Exchange Commission (SEC) to make corporate America disclose a range of greenhouse gas emission figures.
Analysis: Are high prices unpatriotic or as American as you can get?
President Joe Biden’s pointed criticism of oil and gas companies for earning massive profits as families suffer from high gasoline prices challenges a pillar of American capitalism: that U.S. companies should make as much profit as they legally can, and direct that windfall back to investors.
In Zimbabwe, coal power project seeks other backing after China’s U-turn
A Zimbabwean company that had been banking on Chinese financing to build a major coal-fired power plant says it is now looking for alternative backers as China pulls back on funding such projects overseas.
EXCLUSIVE Morgan Stanley to award bonus rises of over 20% on Thursday to top performers -sources
Morgan Stanley (MS.N) will raise its annual bonus for top-performing staff on Thursday by more than 20%, people with direct knowledge of the matter said, with a dealmaking boom set to usher in bumper payouts by banks this year.
