British daily The Financial Times has reported that AIG had lost $2 billion over the deals and the move is a sign that Securities and Exchange Commission action against Goldman Sachs could spark litigation from investors who lost money on mortgage-backed deals.
Indian-origin steel magnate Lakshmi Mittal has joined the board of the investment bank major Goldman Sachs as an independent director.
'We do not need short-term measures but long-term ones. Companies seem to have given up on the infrastructure part. Long delays are fuelling more traffic crisis.'
Already witnessing a sharp decline in inflation, India would see deflation or reduction in general price level from next month due to slackening demand, financial services firm Goldman Sachs said on Monday.
The IPO wave of 2025 is here, and it's bigger than ever. From fintech unicorns to financial powerhouses and infrastructure giants, some of India's biggest names are all set to make their stock market debut. PhonePe, Zepto, Tata Capital, NSE, NSDL, and JSW Cement are just a few of the highly awaited listings that have investors and analysts buzzing with excitement.
"We believe loose liquidity will increasingly feed into higher inflation from current levels. However, we expect a falling output gap, the primary determinant of inflation, and currency appreciation will keep inflation within the RBI's target range of below 5 per cent," Goldman Sachs analyst Tushar Poddar said in the report.
Global financial services major Goldman Sachs on Wednesday said it will start its brokerage operations in India this year.
Wall Street brokerage Goldman Sachs has lowered its estimate for India's economic growth to 11.1 per cent in fiscal year to March 31, 2022, as a number of cities and states announced lockdowns of varying intensities to check spread of coronavirus infections. India is suffering the world's worst outbreak of COVID-19 cases, with deaths crossing 2.22 lakh and new cases above 3.5 lakh daily. This has led to demand for imposition of nationwide strict lockdowns to stem the spread of the virus - a move that the Modi government has so far avoided after the economic devastation last year from a similar strategy.
Perhaps the most sensible thing Goldman Sachs did in an otherwise poorly-researched report on ONGC was to talk of 'corporate governance issues with cash withdrawals by promoter,' says Sunil Jain.
Goldman Sachs' controversial note on corporate governance in Oil and Natural Gas Corp that evoked a strong reaction from the company, is not the first instance of the US investment bank having a run-in with the state-owned firm.
The New-York based Goldman Sachs, one of the world's oldest and largest investment banking firms, plans to enter the buoyant mutual fund business in India.
Foreign portfolio investor (FPI) flows into India may remain tepid in 2022, said a recent note by Goldman Sachs, who now peg the foreign portfolio investment into India at $5 billion in 2022, down from their earlier forecast of $30 billion with risks skewed to the downside. "There has been $15 billion of equity outflows YTD in India already, and the IPO of the largest insurance company has been pushed out. "Additionally, with no mention of India's inclusion in global bond indices in the Union Budget, there are risks to our already conservative base case assumption of an announcement of India's likely inclusion into the GBI-EM Global Diversified Bond Index in Q4-2022," wrote Andrew Tilton, Goldman Sachs' chief Asia-Pacific economist in a co-authored report with Santanu Sengupta and Suraj Kumar.
Gupta, who has not been indicted in the criminal trial of Galleon Group founder Raj Rajaratnam, faces civil charges from the Securities and Exchange Commission for allegedly passing confidential information about Goldman Sachs to the defendant.
Kunal Shah is one of five of India-origin to have made the cut in Goldman Sachs in the 2014 class of partners.
The surge in the market price is also attributed to demand by retail and high-networth individual investors ahead of the IPO.
The new managing directors will assume their enhanced role at the investment banking firm with effect from January 1, 2014.
Reliance holds 67.03% of Jio Platforms Limited and the public listing would provide an exit to many investors.
US-based global investment banking major Goldman Sachs on Tuesday said it would invest one billion dollar in India for expanding operations in sectors like real estate and infrastructure.
World's first "rock star" economist, he coined the popular term "BRIC"
In last few years, a number of global players have exited the Indian mutual fund business.
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Despite criticism, the investment bank said that it stands by its research.
It said the government took $20 billion in cash over the past six years from the company without consulting minority shareholders. 'Since 2003-04, the promoter (the government of India) has taken away cash from the company on a quarterly basis for subsidising loss-making state-owned downstream companies. So far, ONGC's promoters have taken cash of almost $20 billion from the company without consulting the minority shareholders,' Goldman said in its latest report.
The current slowdown has lasted for over 18 months and is the longest incident of sluggishness since 2006.
Global merchant banking firm Goldman Sachs said on Tuesday India can potentially be a 'bigger growth story' by growing faster than China after 2015 if it improves infrastructure and education system.\n\n\n\n
The Indian rupee will bounce from its record low level of close to Rs 52 against the greenback and will gain about 10 per cent in 12 months once overseas borrowings resume, Goldman Sachs has said.
Executive is facing probe for allegedly leaking confidential information to former Galleon Group co-founder Raj Rajaratnam.
World oil prices shot up to $55 per barrel on Friday following a warning by global investment bank Goldman Sachs that crude oil might have entered a 'super-spike' period which can push up oil prices to an astronomical $105 a barrel.
With a potential for a 10x growth in pre-tax profit from the business over the next decade, retail including e-commerce will be the next growth engine for Reliance Industries Ltd, Goldman Sachs said in a report. After growing 5x over FY16-FY20, RIL's core retail revenue growth has taken a pause in FY21 (April 2020 to March 2021) due to Covid related macro headwinds including lower footfalls. The oil-to-telecom conglomerate run by billionaire Mukesh Ambani used the period to build strong digital capabilities of the retail business while continuing to expand its physical reach.
A day after global brokerage firm Macquarie painted a rosy picture of the Indian economy and raised its target level for the stock indices for the next 12 months, Goldman Sachs said India is set to overtake China and become the fastest-growing emerging market during 2016-18.
Securities Exchange Commission, the American market regulator, on Friday charged investment banking major Goldman Sachs with fraud on subprime mortgages, saying that Goldman did not disclose key facts to investors.
The deal fell through over unresolved disagreements over contentious issues, mainly on agriculture and automotive sector tariffs.
The estimate is way below the government's forecast of 9 per cent growth in 2011-12.
Goldman Sachs has bounced back spectacularly from the financial crisis and so far this year it has earmarked $16.71 billion as compensation.
A string of acquisitions this year has pushed India to the top of the Asia's inbound M&A league table.
The Reserve Bank of India in its annual monetary policy predicts an annual inflation number every year which is not a mandate, as there is no inflation target set by the government.
A senior executive with global investment banking giant Goldman Sachs, Sanjay Patel, has been named among the UK's 20 most powerful fund managers. Currently in his second spell at Goldman Sachs, after leaving it for an alternative asset management fund house GSC Partners, Patel is co-head of Goldman Sachs' European PE and Indian capital equity businesses. Patel returned to Goldman Sachs in February 2006.
The Budget will be keenly watched (to see) whether there is a credible plan for reducing the fiscal deficit and whether populist measures can be avoided before the 2014 general elections," the Wall Street firm said in a note.
Goldman says the downgrade reflects the more difficult external funding conditions for Asia as markets increasingly anticipate Fed tapering and eventual exit from unconventional monetary policies.
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