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Goldman Sachs says regulators investigating credit card business
... which was founded about six years ago. Goldman expects the consumer bank to have over $4 billion in annual revenue by 2024, double what it is on pace to bring in this year. In 2019 Goldman launched its credit card business via a partnership with Apple Inc. In partnership with General Motors Co. , the company offers cards and CEO David Solomon said last month on an investor call that Goldman is looking for opportunities to add more. The bank had 12 billion in credit card loans outstanding at the ...
Updated: 08/04/2022
Wall Street falls amid choppy trading, Apple losses
... companies dampened the bullish resolve of the major indexes that had rallied in the previous session to its best in a week. Apple weighed the most on the S&P 500 and the Nasdaq, shedding 0.4%, a day after surging 3.8%, while the energy sector fell 1.... ... markets had roared back to life on Wednesday on a rebound from a slew of strong results from companies like CVS Health and PayPal Inc . The benchmark index has gained nearly 13.8% from its mid-June lows, but is still in a bear market and down 13% for the year....
Updated: 08/04/2022
Tesla to host annual meeting with investors
... year, which took the company's market capitalization above $1 trillion. A split could make it easier for a wider range of investors to own the stock, as it does not affect the company's fundamentals. In the past, Alphabet Inc , Amazon.com Inc , and Apple Inc have also announced stock splits. The board's proposals to reduce the term of its directors from three years to two years as well as re-elect Ira Ehrenpreis and Kathleen Wilson-Thompson will also be put before the shareholders of Tesla . The Institutional ...
Updated: 08/04/2022
Consumer watchdog probing Goldman Sachs' credit card business
... CFPB . David Solomon , the bank's chief executive officer, said that the bank was looking to expand its consumer business as it tried to diversify its revenue streams beyond trading and investment banking. The bank has a credit card partnership with Apple Inc after the launch of a card with the iPhone maker in 2019. It also offers a co-branded credit card with General Motors Co. The Wall Street giant said it had reduced its credit exposure to Russia by over 13% in the second quarter. Citigroup Inc saw ...
Updated: 08/04/2022
Meta Platforms Sell Off $10 Billion in Corporate Bonds
... selling US corporate bonds for the first time on Thursday, as its cash flow and stock price fall. Bloomberg Meta Platforms Inc. , one of the few S&P 500 companies without debt, is selling US corporate bonds for the first time on Thursday, as its cash ... ... Bloomberg , there are just 18 companies in the S&P 500 without outstanding short or long-term debt, excluding lease liabilities. Apple and Intel Corp. have ridden a rally in credit markets over the past month, which has led to a rally in credit markets. The ...
Updated: 08/04/2022
China chipmaker YMTC advances chip technology
... between it and market leaders. YMTC , once a little-known player backed by the ailing Chinese state-conglomerate Tsinghua Unigroup , has attracted attention in the chip industry for its rapid advancements in R&D. In March, Bloomberg reported that Apple Inc was considering using YMTC as a memory chip supplier, which would be a major boon for the upstart company. According to a report earlier this week, Washington is considering imposing limits on companies that supply to YMTC , forbidding parts to ...
Updated: 08/04/2022
Taiwan's exports likely to rise for 25th straight month in July
... for the 25th consecutive month in July, though at a slower pace than in June, due to fears of a global recession, uncertainties due to the Ukraine conflict and COVID 19 flare-ups in China. Taiwan, a global hub for chip production and key supplier to Apple Inc , is one of Asia's leading exporters of technology goods, with trade data seen as an important indicator of world demand for tech gadgets. Exports last month were estimated to have gone up 11.65% from a year ago, a Reuters poll of 10 analysts showed ...
Updated: 08/04/2022
Apple sued by French app developers over monopoly
Apple Inc. was sued by French app developers on Monday, accusing the iPhone maker of violating U.S. antitrust law by overcharging them to use its app store. Apple Inc . was sued by French app developers on Monday, accusing the iPhone maker of violating U....
Updated: 08/02/2022
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