Following an abysmal quarter for investment banks around the globe, which saw salary cuts across the board as a result of sliding revenues in virtually all product areas, we forecast that the next logical step will be ongoing major layoffs of some of the world's highest paid employees. This morning none other than the most insulated from global financial troubles bank confirmed just this when Bloomberg reported that Goldman had quietly cut investment banking jobs in the last few weeks, joining securities firms that are adjusting to a slowdown in deal activity.
Every company has been bracing for the fiscal cliff in their own ways. Some have been delaying capital expenditures until uncertainty clears up, while others have been dumping cash on their shareholders in the forms of special or accelerated dividends.
By Kurt Brouwer: If you have been reading Fundmastery Blog for a while, it should be no surprise to you that economic growth is slowing. Now, Goldman Sachs (GS) has finally released a report that states the obvious. It’s really a question of how low does it go. Do we just muddle along with slow growth or do we sink into another recession?
Bitcoin (BTC) is the most popular crypto-currency and covers more than 90% of the crypto-currency universe with a market value of $8.09 billion at current prices. Given the potential that can be seen and the latest developments in the Japanese market that led to Mt. Gox declaring it bankrupt and moving out from the country, the vacuum had to be filled. The opportunity was cashed in by former Goldman Sachs (GS) employee, Mr.
Goldman Sachs said U.S. oil prices need to trade near $40 a barrel in the first half of this year to curb shale investments as it gave up on OPEC cutting output to balance the market.
The bank reduced its forecasts for global benchmark crude prices, predicting inventories will increase over the first half of this year, according to an e-mailed report. Excess storage and tanker capacity suggests the market can run a surplus far longer than it has in the past, said Goldman analysts including Jeffrey Currie in New York.
Goldman Sachs analyst Judy E. Hong slashed her price target on Keurig Green Mountain Inc (NASDAQ:GMCR) from $181 to $166, while maintaining a Buy rating on the stock. The revision in the price target was based on the company’s stock price decline following the earnings release for the first quarter of fiscal year 2015 (1QFY15).
Goldman Sachs has cut its first quarter GDP estimate to -1.9%. The firm had previously expected a Q1 GDP decline of -1.1%. On Twitter, Reuters' Jamie McGeever noted that excluding the 2008-2009 crash, this would be the largest quarterly GDP contraction in 23 years.