Goldman Sachs

Ticker GS

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Market closed
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Price US dollars
As of 17:38 22 Sep 2018
Market cap. US dollars
88,854.08 million
As of 17:38 22 Sep 2018

Latest updates

Bitcoin 'drops off a cliff'

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Cryptocurrencies have dropped sharply after investor concern that their broad adoption will take longer than expected, Bloomberg reports.

Bitcoin fell almost 10%, while rivals Ripple, Ether and Litecoin also dropped, Bloomberg says.

It has also emerged that Goldman Sachs has reportedly shelved plans to open a desk for trading cryptocurrencies, according to Business Insider.

BreakingGoldman Sachs faces probe from UK regulators

Goldman Sachs
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Goldman Sachs is apparently facing a probe from British regulators over its Markets in Financial Instruments Directive (MiFID II) reporting practices - a new regulation in Europe introduced in January that requires finance firms to improve how they report their trading activities, and offer customers a range of different research before making decisions.

Sources have told Bloomberg that a former Goldman Sachs employee sent a complaint to the Financial Conduct Authority earlier this year claiming that the bank's approach was to flood regulators with too much data and inaccurate information in breach of compliance guidelines.

Goldman 'going more into retail banking'

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BBC Radio 4

David Solomon
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It looks as though David Solomon will try to broaden out what Goldman Sachs does and try to take it deeper into retail banking.

Mike Amey, a managing director at Pimco, says: "There looks to be a shift going on within the company, and a lot of this relates to the challenges of conducting a business solely in what they did in investment banking and trading markets, which one of the things that's happened in the last few years is to make it more expensive to do that business. So they're thinking about other channels where they can operate."

DJ-ing banker 'has a good ear'

Today Programme

BBC Radio 4

David Solomon with rapper Sean 'Diddy' Combs
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David Solomon with rapper Sean 'Diddy' Combs

On Tuesday investment bank Goldman Sachs confirmed its next chief executive will be DJ-ing banker David Solomon.

Jennifer Ablan, editor for US investments at Thompson Reuters, says "he's a breath of fresh air for the Goldman Sachs firm".

"He really is a personable executive. When I actually approached him earlier this year in a New York city nightclub which he was DJ-ing at, he was so nice and kind to my husband and I."

As a DJ, he "plays a lot of house music" and "he has a very good ear", she added.

Goldman to take UK deposits

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Goldman Sachs plans to start accepting UK deposits at its online consumer bank later this year.

Goldman started the bank, known as Marcus after founder Marcus Goldman, in 2016 and has made its expansion a focus.

The firm said the bank, which offers a higher interest rate in the US than many competitors, has more than 1.5 million customers and deposits of about $23bn.

Goldman Sachs to confirm new chief

Goldman Sachs building
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Goldman Sachs is expected to name David Solomon as its next chief executive officer early this week, according to a report in the New York Times.

The announcement, which will formally establish Solomon as the successor to Lloyd Blankfein, could be made as soon as today, the newspaper reported citing sources.

Mr Blankfein, who is one of the longest-serving CEOs on Wall Street, will stay on for an interim period, the report said.

Mr Solomon, who joined the investment bank as a partner in 1999, currently serves as the president and chief operating officer of the company.