Goldman Sachs charts frustrating path back to top

October 18, 2016

Trading, share buybacks and operating leverage all helped the investment bank to its best showing in a year-and-a-half. It took big investment gains and a lower tax rate to beat its cost of capital. That's too unreliable to justify Goldman's stock heading back above book value.

Asian cull makes Goldman Sachs look rattled

September 26, 2016

The Wall Street bank is laying off nearly a third of its Asian investment bankers. Lumpy deal flow, fierce competition and low fees are endemic in Asia, but Goldman's pullback suggests the scandal over Malaysia's 1MDB may have also dampened its appetite for risk.

Malaysia fiasco undercuts Goldman’s standards push

July 22, 2016

After the financial crisis, the Wall Street firm overhauled its business practices in an effort to avoid big reputational as well as financial risks. But its dealings with scandal-hit sovereign fund 1MDB, spelled out in new lawsuits, cast doubt on the depth of Goldman's changes.

Singapore, Saudi put corporate do-gooders on spot

June 9, 2016

Banks covet business in Saudi Arabia despite its poor human rights. They can say it’s the direction of travel that counts. Singapore, which just told groups like Goldman Sachs to stop backing a gay and lesbian event, is going backwards. It puts corporate sincerity to the test.

Goldman’s Tesla upgrade is a case of bad timing

May 19, 2016

The Wall Street firm’s analysts moved the carmaker to “buy” just before its bankers took a role in a $1.7 bln stock sale. It smells bad - and watchdogs will surely take a look - but there are plenty of mitigating factors. This may just be Chinese walls working as intended.

Viewsroom: Coal bust, Bank earnings, Millennial media

April 15, 2016

Peabody Energy's bankruptcy gives Big Oil a glimpse into the future, while energy losses are just one issue U.S. lenders have to contend with. Plus: startup news outlets face age-old problems.

Banks can’t rely on lifeboats when Titanic sinks

April 13, 2016

JPMorgan is among five big U.S. firms that failed the living wills test. That’s because they counted on liquidity from other subsidiaries that could be cut off from providing aid when things go awry. The regulators’ message to Wall Street is clear: every man for himself will prevail in the next crisis.

Goldman left with long-term greedy as only option

April 12, 2016

The Wall Street firm’s executives would boast that they’d rather wait for riches than make a quick buck. Lloyd Blankfein’s minions may not have a choice. A dismal start to 2016 for the industry and several years of subpar earnings ahead justify the bank’s discount to book value.

Credit Suisse wise to flaunt Brexit neutrality

April 8, 2016

The Swiss bank has banned staff from events and debates tied to the UK’s EU referendum. Overt partisanship might have unnerved some Credit Suisse clients. As Switzerland renegotiates its own trading terms with Europe, Brexit impartiality also makes sense for its domestic banks.

Goldman and rivals’ pay cut may have bright side

January 20, 2016

Staff compensation at the Wall Street firm is 8 pct less on average than in 2014 and down almost 11 pct at Morgan Stanley. JPMorgan workers fared better but still took a hit. With share values way down, though, those paid in stock may get a great deal – barring another crash.