United States

Elizabeth Dilts Marshall

Goldman Sachs, Morgan Stanley lower stress capital buffers after Fed's correction

Sep 04 2020

Goldman Sachs Group Inc and Morgan Stanley on Friday revised lower two key measures of the banks' ability to deploy cash in an emergency, after the Federal Reserve said it made an error in its June stress test results.

Banks eye layoffs as short-term crisis ends, long-term costs emerge

Aug 28 2020

NEW YORK At the height of the coronavirus pandemic last spring, the heads of U.S. banks including Morgan Stanley, Bank of America Corp and others pledged not to cut any jobs in 2020 because it was the wrong thing to do.

Wall Street bonuses likely to tumble, job cuts to start in late 2020: report

Aug 10 2020

NEW YORK Most Wall Street workers can expect to see their bonuses slashed this year and some jobs may be cut, according to a report published Monday by compensation consulting firm Johnson Associates Inc.

Goldman Sachs cuts quarterly earnings citing legal provisions

Aug 07 2020

NEW YORK Goldman Sachs Group Inc on Friday lowered its previously stated quarterly earnings as the bank set aside more money to pay for its settlement with the Malaysian government over the multi-billion 1MDB scandal.

Exclusive: Goldman revamps employee reviews, opening door to greater job cuts

Jul 27 2020

NEW YORK U.S. investment bank Goldman Sachs Group Inc is adopting a performance review system that will grade up to 10% of its 39,000 employees as under-performers this year, according to an internal memo sent on Monday, potentially leading to more job cuts in 2021 than the bank has made in recent years.

Goldman to pay Malaysia $3.9 billion over 1MBD scandal, U.S. settlement seen close

Jul 24 2020

By Rozanna Latiff, Joseph Sipalan and Elizabeth Dilts Marshall | Video

Asia markets to fall on China vow to retaliate against U.S.

Jul 23 2020

NEW YORK, July 23 Asian markets are set to open mostly lower on Friday as China vowed to retaliate against a U.S. order to close one of its consulates, and the American equity markets fell on gloomy data about its labor market.

World News