Tag: Goldman Sachs Group Inc

A Beverly Hills Hotel, Bought With Looted Money, Goes on Sale

For sale: Boutique hotel, convenient to Hollywood. 116 rooms, rooftop pool, jet-setting clientele. Previous owner spent $40 million on renovations before becoming an international fugitive. Asking price: $100+ million. If that sounds like a steal — even in the middle of a global pandemic that has nearly ground travel to a halt — the Viceroy […]

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The Market Partied Like It Was 1932

Simply enumerating the crises afflicting the United States this year is an exhausting job. Consider that the country has already experienced a presidential impeachment trial, the onset of a tenacious coronavirus pandemic and a grave recession. Add to all of that the heartbreaking video recordings of police officers killing people of color, which vastly amplified […]

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Goldman Sachs Is Said to Try to Avoid Pleading Guilty in 1MDB Scandal

Goldman Sachs is trying to get federal prosecutors to ease up on the bank for its role in a brazen scheme to loot billions of dollars from a Malaysian sovereign wealth fund. Lawyers for the bank have asked Deputy Attorney General Jeffrey Rosen to review demands by some federal prosecutors that Goldman pay more than […]

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Boxed Lunches and Plexiglass Will Welcome Back Wall Street’s Workers

Grab-and-go packaged meals may replace midday generous buffets and three-figure lunches. Plexiglass could divvy up trading floors the size of football fields. Heat maps, accessible on a mobile app, will help identify the restrooms with the smallest crowds. But when Wall Street reopens its doors to employees, the talent will only trickle in. New York […]

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Goldman Sachs Forecloses on 10,000 Homes for ‘Consumer Relief’

To make amends for its part in the collapse of the housing market during the 2008 financial crisis, Goldman Sachs promised $1.8 billion in consumer relief to struggling homeowners. That penance was also a business opportunity. Four years after agreeing to help homeowners in a civil settlement with federal prosecutors, the Wall Street firm has […]

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National Cathedral, Nasdaq, Businesses and Unions Locate Troves of N95 Masks

Joe Alonso, the head stonemason at the Washington National Cathedral, had tended to the building for 35 years. He knew its nooks and crannies. So when news spread of a shortage of N95 masks needed to fight the coronavirus outbreak, Mr. Alonso remembered something nobody else did: More than 7,000 masks — purchased in 2005 […]

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Amid Virus and Market Tumult, Wall Street Lives a New Reality

Investors, corporations and trading clients are turning to Wall Street amid one of the most tumultuous periods in market history to borrow money, buy or sell assets, and limit losses on existing holdings. But Wall Street itself is grappling with a challenge it had never faced: how to protect employees from a worsening public-health threat […]

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Which Consumer Lenders Are (and Aren’t) Helping the Most

On Sunday morning, Goldman Sachs, the financial partner on the new Apple credit card, said it would allow all cardholders who asked for help to skip their March credit card bill. The interest would disappear, never to be charged. And Goldman would foot the bill itself, as the financial backer of the partnership. On Sunday […]

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Wall Street Had 2 Terrible Weeks. Here’s How 7 Traders Dealt With It.

The past two weeks were among the worst in recent Wall Street history, as anxiety about the coronavirus outbreak gave way to alarm and drove panicked investors to sell their stock holdings, obliterating roughly $2 trillion in wealth. Ultimately, investors were forced to face an inescapable truth: With factories and schools and entire cities shutting […]

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Wall Street, Encouraged by Biden’s Wins, Breaks Out Its Checkbooks

After weeks of worrying that Senator Bernie Sanders would trounce his rivals on Super Tuesday and set the tone for a rancorous Democratic nomination, Michael Novogratz, the longtime trader and merchant banker, was newly motivated on Wednesday morning. Joseph R. Biden Jr., the former vice president and a moderate candidate with solid support on Wall […]

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Mahathir Mohamad, Malaysia’s Prime Minister, Submits Resignation Letter

They were the strangest of political colleagues: a nonagenarian onetime autocrat and the former protégé he had jailed for sodomy. Mahathir Mohamad, the 94-year-old prime minister of Malaysia, and his perennial presumptive heir, Anwar Ibrahim, joined forces in 2018 to oust a governing party to which both had once belonged. That party, the United Malays […]

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Lloyd Blankfein Says Bernie Sanders Would ‘Ruin Our Economy’

Lloyd Blankfein is tweeting again. This time, the former Goldman Sachs chief executive is taking aim at Senator Bernie Sanders of Vermont, the victor of Tuesday’s Democratic primary in New Hampshire by a slim margin. In a tweet on Tuesday night, his first since November, Mr. Blankfein said Mr. Sanders would “ruin our economy” if […]

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Goldman Sachs Banker in Malaysian Fund Scandal Is Barred From Banking

Federal bank regulators on Tuesday barred a third Goldman Sachs banker from working for an American bank, the latest fallout from the Wall Street firm’s role in a scandal involving the looting of billions of dollars from a Malaysian sovereign wealth fund. In a settlement, the Federal Reserve found that the banker, Andrea Vella, “engaged […]

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