Brazilian President Jair Bolsonaro delivered his proposed pension overhaul to Congress on Wednesday, aiming to save over 1 trillion reais (US$270 billion) in a decade by changing tax rates, delaying retirement and creating individual savings accounts.
The new chief executive of Goldman Sachs says that a difficult Brexit will negatively affect its investment plans in the UK. David Solomon told the BBC that while there has been a hiring freeze in the UK, the bank has been adding staff in the EU over the last two years.
Goldman Sachs new boss has apologized to Malaysia for the role an ex-partner played in the corruption scandal at one of the country's wealth funds. However, chief executive David Solomon also distanced the bank from the scheme, which saw billions embezzled from the state development fund, 1MDB.
Argentina’s economy contracted 6.7% in June compared with the same month last year, and 1.3% compared with May, government statistics agency Indec said on Thursday. June was the third consecutive month of decline following 5.2% in May and 0.6% in April.
The United States Federal Reserve Board announced that it has fined The Goldman Sachs Group, Inc., US$ 54.75 million for the firm's unsafe and unsound practices in its foreign exchange (FX) trading business.
China is taking its first steps towards paying for imported crude oil in Yuan instead of the U.S. dollar, according to Reuters, a key development in Beijing's efforts to establish its currency internationally.
The former investment banker at Goldman Sachs became the new president of U.S. Soccer on Feb. 11. He replaces Sunil Gulati after an election in Orlando, Florida that required three rounds of voting to finally crown Cordeiro.
Chancellor of the Exchequer Philip Hammond reportedly told the board of U.S. investment bank Goldman Sachs that he was pushing for a lengthy transition period after Britain leaves the European Union, a source familiar with the talks said. The source said Hammond made a presentation to the Goldman Sachs board on June 29 when CEO Lloyd Blankfein was in London for the annual board meeting.
Goldman Sachs will move jobs away from London and bulk up its European presence by “hundreds of people”, a senior executive has said. The US bank's European chief executive, Richard Gnodde, said it would begin the process before the UK leaves the European Union.
Saudi Arabia and Iran may yet come to terms on some sort of production arrangement, but the outcome of the negotiations in Algeria this week may not do much to rescue oil prices. Following the media spectacle, the oil markets may have to shift their attention back to the supply and demand fundamentals, which are not reassuring