Reliance Industries Ltd invested over $125 billion in the last ten years as it undertook massive expansion in hydrocarbon and telecom businesses, a report said, estimating that the conglomerate's investments in the next three years would be in relatively less capex-heavy retail and upstream new energy. Reliance is coming out of a series of long and intensive capex cycles (hydrocarbons and telecom).
Goldman Sachs has bounced back spectacularly from the financial crisis and so far this year it has earmarked $16.71 billion as compensation.
Consolidated earnings for oil-to-telecom conglomerate Reliance Industries (RIL) may report sequential weakness, and modest year-on-year (Y-o-Y) growth in the June 2024 quarter (Q1FY25), said analysts. Lower refining margins are expected to moderate gains made from other businesses. RIL is slated to report its financial performance for Q1FY25 on July 19.
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.
In last few years, a number of global players have exited the Indian mutual fund business.
Goldman Sach's chief Lloyd Blankfein had called up his Citigroup counterpart Vikram Pandit to discuss a merger but the proposal was rejected by the India-origin chief executive officer, The Financial Times has reported.
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.
Indian-origin steel magnate Lakshmi Mittal has joined the board of the investment bank major Goldman Sachs as an independent director.
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.
The planned fund could help New Delhi raise between $1 billion and $2 billion.
The 41- year old is currently the head of macro trading in Goldman's Securities Division.
Blankfein will at the upcoming trial of Galleon hedge fund founder Raj Rajaratnam.
"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.
The deal makes Facebook now worth more than companies like eBay, Yahoo and Time Warner.
Goldman Sachs could end up paying $1 billion (670 million pounds) fine if it wants to settle the criminal lawsuit with the US regulator Securities and Exchange Commission, according to a media report.
Financial services firm Goldman Sachs has paid a large chunk of the nearly $30 million legal fees for its former board member Rajat Gupta's defence, a media report said.
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.
The 3-month, 6-month and 12-month USD-rupee forecasts are 55, 53 and 52 respectively.
Goldman Sachs is likely to face a fine of around 20 million pounds from UK financial regulator FSA, just months after US Securities and Exchange Commission imposed a penalty on the banking major, a media report said.
A growing China is good for everybody as creation of wealth "ultimately trickles across the world", Goldman Sachs chairman and CEO Lloyd Blankfein has said.
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Despite criticism, the investment bank said that it stands by its research.
Global financial services major Goldman Sachs on Wednesday said it will start its brokerage operations in India this year.
World's first "rock star" economist, he coined the popular term "BRIC"
Financial services firm Goldman Sachs has started a $500-million initiative to support small businesses across the United States, with legendary investor Warren Buffett as an adviser.
Says a BJP win would raise business confidence and, as a result, the chances of a new investment cycle
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.
Key risk for price rise is the 'deficient' monsoon that could lead to a pick-up in inflation expectations.
Indian American Rajat Gupta, a former director at Goldman Sachs, had violated the firm's code of conduct by disclosing details from a 2008 board meeting to hedge fund manager Raj Rajaratnam, the main accused in the largest hedge fund insider trading case to hit US courts, the company CEO Lloyd Blankfein has testified.
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.
'The Budget needs to focus more on social welfare schemes.'
Goldman includes Bajaj Auto Ltd and Tata Steel Ltd in its Asia-Pacific growth recovery group of stocks.
This could be higher if reforms continue.
Goldman Sachs on Wednesay began celebrating confirmation of bumper bonuses for this year, with the chairman and chief executive, Lloyd Blankfein, expected to lead the pack with a 30 per cent increase in his pay to about $70m.
High-end apartments, penthouses, and bungalows boasting amenities like swimming pools, expansive driveways, and premium interiors are becoming highly sought after.
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.
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.
Three global investment firms -- Morgan Stanley, Deutsche Bank and Goldman Sachs -- have picked up a total of 10 per cent stake in city-based software firm Core Projects and Technologies Ltd at a combined investment of Rs 39.76 crore (Rs 397.6 mn).
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.
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