Exclusive: Goldman Sachs International boss joins non-dom exodus April 24, 2025 Goldman Sachs’ most senior banker outside America is joining the growing ranks of wealthy foreigners leaving the UK to avoid the government’s crackdown on non-doms, City AM can reveal. Richard Gnodde, the investment banking juggernaut’s vice chairman, is moving to Milan to avoid changes the Chancellor made to the non-dom regime and foreign-held trusts in [...]
City bonuses beat Wall Street after cap scrapped April 22, 2025 UK financial services handed out the industry’s highest bonuses last year after taking advantage of the lifting of pay restrictions. Workers pocketed an average $149k (£114k) bonus in 2024, according to fresh data from jobs platform eFinancialCareers. This marked a 25.7 per cent jump from 2023 and sent the UK above North America, which rose [...]
Bank of America, JP Morgan, Goldman Sachs: Wall Street cashes in on market volatility April 15, 2025 Wall Street’s banking giants pocketed record revenues in the first quarter of 2025 as market volatility ramped up. Top lenders were able to smash profit expectations after reaping the rewards of a trading boom caused by President Donald Trump’s erratic tariff agenda. Trump’s bait-and-switch on tariffs triggered countless sell-offs as traders across the globe ditched [...]
Goldman Sachs: Profit jumps after record quarter for traders April 14, 2025 Goldman Sachs posted a 15 per cent jump in first-quarter profit. The Wall Street giant’s revenue was boosted by record equities trading amid market volatility. The bank’s first-quarter net revenue was $15.06 bn (£11.4bn), surpassing the analyst consensus of $14.8bn (£11.2bn). Net earnings were $4.74bn (£3.6bn). Equity-trading revenue rose 27 per cent from the previous [...]
Trump threatens 100 per cent tariffs on China April 7, 2025 President Donald Trump has threatened to slap additional 50 per cent tariffs on China if it doesn’t withdraw its retaliatory measures, pushing the possible level of tariffs it faces on exports to the US to over 100 per cent. In a post on Truth Social, the US president said retaliatory Chinese tariffs on US imports [...]
FTSE 100 sinks as S&P 500 and Dow Jones plummet on open April 4, 2025 The pain continued for global markets on Friday, as the S&P 500 and Dow Jones joined the FTSE 100 in the red. The FTSE 100’s downturn deepened following China’s announcement of 34 per cent retaliatory tariffs against the US. The index closed at 8,063.12, making a 4.9 per cent loss. This marked the FTSE 100’s [...]
Goldman Sachs scraps diversity rule that ‘served its purpose’ February 12, 2025 Goldman Sachs has scrapped a diversity rule which barred it from advising all male, all white boards on company flotations. The now-ditched rule stated the investment bank would only help a business sell its shares on a stock exchange if it had two board members that fitted diversity requirements – one of whom had to [...]
Budget will hurt UK wage growth, Goldman Sachs warns November 18, 2024 UK consumer spending is set to slump next year and dent UK growth, analysts at Goldman Sachs have warned, as the impact of the Budget ripples through the economy. The rise to employers’ national insurance (NI) contributions will lead to slower wage growth for staff and higher costs for consumers, the investment bank wrote in [...]
Goldman-backed Petershill announces bumper dividend after pick-up in dealmaking September 17, 2024 Petershill Partners has announced a special dividend of 9 cents (7p) per share after a flurry of deals and a successful asset raising round helped the private equity firm return to growth. The Goldman Sachs-backed firm, which floated on the London Stock Exchange three years ago, generated a total income of $146m (£111m) in the [...]
Goldman Sachs flies top London banker to Paris in latest post-Brexit relocation April 23, 2024 Goldman Sachs has relocated one of its top European investment bankers from London to Paris as part of a shake-up in the group's regional structure following Brexit.