Latest news with #GoldmanSachs
Bloomberg
an hour ago
- General
- Bloomberg
Harvard's Identity Is Under Threat as Trump Curbs Student Visas
For Lloyd Blankfein, Harvard University's appeal to foreign students is inextricably linked to its national identity. 'It is an American institution that attracts foreigners precisely because it is an American university,' the former Goldman Sachs Group Inc. chief said in an interview, echoing a message he delivered to the school's president last year. Blankfein had urged it to prepare for a coming attack, warning that if Harvard failed to define itself as a distinctly American force working for the public good, its detractors would advance a crippling counter-narrative.
Forbes
4 hours ago
- Business
- Forbes
Goldman Sachs Predicts Sub-$60 Oil Prices In 2026
Oil wells pumping outside of Midland Texas. Global investment bank Goldman Sachs has reiterated its bearish stance on oil prices for this year and the next, on expectations of yet higher non-OPEC crude production, even when U.S. shale output is excluded. In a note to its clients on Tuesday, the bank said it now expects global proxy oil benchmark Brent and U.S. benchmark West Texas Intermediate to average $56 and $52 per barrel respectively in 2026. It also maintained its 2025 forecasts for Brent and WTI at $60 and $56 per barrel respectively. The reiteration of a bearish outlook by Goldman Sachs is a continuation of a series of recent downward oil price forecast revisions by major Wall Street banks and other forecasters. For its part, Goldman Sachs based much of its analysis on oil production growth from non-OPEC 'ex-Russia, ex-U.S. shale' producers likely accelerating to 1 million barrels per day over the next two years. Non-OPEC producers Brazil, Canada, Guyana and Norway have all seen an uptick in crude oil production volumes capable of more than servicing global demand growth, which is currently said to be in the region of 1 million bpd. Specifically on U.S. shale, Goldman Sachs analysts noted that the lower oil prices it predicts for the remainder of 2025 and 2026 - on the back of a near-term supply surplus - may lead to an earlier and lower peak in the production patch. Many, including oil industry insiders, believe this may be imminent and likely around 2027. In March, at CERAWeek 2025, a major energy event organized by S&P Global, ConocoPhillips CEO Ryan Lance and Occidental Petroleum CEO Vicki Hollub joined many of their industry peers in predicting a U.S. crude production plateau sometime between 2027 and 2030. The Energy Information Administration - statistical arm of the Department of Energy - has also predicted that a 2027 production plateau sounds fairly plausible. In its Annual Energy Outlook 2025 published last month, the EIA said U.S. production will rise to 14 million barrels per day in 2027, and may likely stabilize at or near that level for a few years up until the early 2030s, before a gradual decline comes into view. A climate of relatively low oil prices is already hitting industry confidence. But for now many U.S. explorers have hedging plans in place ranging from 6 to 18 months at $70-plus price levels. For that reason, the drop is unlikely to be an immediate one, but one that could well be pretty pronounced next year. However, over the near-term higher U.S. production will likely add to the market surplus. Oil producers' group OPEC+ is also unwinding its cuts and revisiting the prospect of higher production levels for next year. In May, it agreed to up oil production for a second consecutive month, raising output for June by 411,000 bpd, having announced a similar hike for May. The combined hikes for April, May and June total 960,000 bpd. The figure represents around 44% of the 2.2 million bpd of previously agreed OPEC+ cuts since 2022. It seems that a full blown glut might already be about to greet the market. Were that to be the case, the prediction of sub-$60 oil prices for 2026 by Goldman Sachs seems pretty plausible.
Forbes
4 hours ago
- Business
- Forbes
Former Goldman Investment Banker Joins Yum China Board Of Directors
Former Goldman investment banker Grace Xin Ge has joined the board of directors at Yum China. Grace Xin Ge, a former managing director in the investment banking division of Goldman Sachs, has joined the board of directors of Yum China, the operator of KFC and Pizza Hut chains in China. Ge, 48, is the founding partner of G-Bridge Partners, an investment and advisory firm that focuses on cross-border business and venture scaling in Europe and Asia since September 2022, according to an announcement on Sunday. Earlier she was CFO of Baidu spinoff Du Xiaoman, a partner of Ares Management Private Equity Group, and a managing director at the investment banking division at Goldman Sachs. She worked at PricewaterhouseCoopers in Beijing and San Francisco from July 1998 to June 2003, according to her biography. Ge, who holds a Harvard MBA, is currently an independent director at Keep Inc., a Hong Kong-listed online fitness platform and solutions company, and Goldstream Investment Limited, an investment management company that is also listed in Hong Kong. Ge will be entitled to an annual retainer equal to $315,000 for her service as a director in accordance with the director compensation policy previously approved by the board of directors, payable in Yum China's common stock or, if requested by her, up to one-half in cash, Yum China said. She will be entitled to additional retainer for serving on any committees of the board of directors in accordance with the director compensation policy, the announcement said. Yum China's legal team doesn't allow the company to say where Ge is currently based, according to a Yum China manager. Yum China, a China spinoff from U.S.-listed Yum, has attracted customers to KFCs over the years with local eats such as tea eggs, salted egg yolk rice rolls, sweet pumpkin congee with lotus seeds, and red bean drink with sweet fermented rice. The company's CEO Joey Wat ranked No. 8 on a survey of China's most successful businesswomen published earlier this year by Forbes China, the Chinese-language edition of Forbes.
Bloomberg
5 hours ago
- Business
- Bloomberg
Harvard Is Getting Sucked Into Trump's 'America First' Campaign
For Lloyd Blankfein, Harvard University's appeal to foreign students is inextricably linked to its national identity. 'It is an American institution that attracts foreigners precisely because it is an American university,' the former Goldman Sachs Group Inc. chief said in an interview, echoing a message he delivered to the school's president last year. Blankfein had urged it to prepare for a coming attack, warning that if Harvard failed to define itself as a distinctly American force working for the public good, its detractors would advance a crippling counter-narrative.
Yahoo
7 hours ago
- Business
- Yahoo
Sana Biotechnology to Present at June 2025 Investor Conferences
SEATTLE, May 28, 2025 (GLOBE NEWSWIRE) -- Sana Biotechnology, Inc. (NASDAQ: SANA), a company focused on changing the possible for patients through engineered cells, today announced that it will webcast its presentations at two investor conferences in June. The presentations will feature a business overview and update. Sana will present at the Jefferies Global Healthcare Conference at 2:35 p.m. ET on Wednesday, June 4, 2025. Sana will present at the Goldman Sachs 46th Annual Global Healthcare Conference at 8:40 a.m. ET on Tuesday, June 10, 2025. The webcasts will be accessible on the Investor Relations page of Sana's website at A replay of each presentation will be available at the same location for 30 days following the conference. About Sana BiotechnologySana Biotechnology, Inc. is focused on creating and delivering engineered cells as medicines for patients. We share a vision of repairing and controlling genes, replacing missing or damaged cells, and making our therapies broadly available to patients. We are a passionate group of people working together to create an enduring company that changes how the world treats disease. Sana has operations in Seattle, WA, Cambridge, MA, South San Francisco, CA, and Bothell, WA. For more information about Sana Biotechnology, please visit Cautionary Note Regarding Forward-Looking StatementsThis press release contains forward-looking statements about Sana Biotechnology, Inc. (the 'Company,' 'we,' 'us,' or 'our') within the meaning of the federal securities laws, including those related to the Company's vision; the Company's participation at the Jefferies Global Healthcare Conference and Goldman Sachs 46th Annual Global Healthcare Conference; and the subject matter of the Company's presentations at these conferences. All statements other than statements of historical facts contained in this press release, including, among others, statements regarding the Company's strategy, expectations, cash runway and future financial condition, future operations, and prospects, are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as 'aim,' 'anticipate,' 'assume,' 'believe,' 'contemplate,' 'continue,' 'could,' 'design,' 'due,' 'estimate,' 'expect,' 'goal,' 'intend,' 'may,' 'objective,' 'plan,' 'positioned,' 'potential,' 'predict,' 'seek,' 'should,' 'target,' 'will,' 'would' and other similar expressions that are predictions of or indicate future events and future trends, or the negative of these terms or other comparable terminology. The Company has based these forward-looking statements largely on its current expectations, estimates, forecasts and projections about future events and financial trends that it believes may affect its financial condition, results of operations, business strategy and financial needs. In light of the significant uncertainties in these forward-looking statements, you should not rely upon forward-looking statements as predictions of future events. These statements are subject to risks and uncertainties that could cause the actual results to vary materially, including, among others, the risks inherent in drug development such as those associated with the initiation, cost, timing, progress and results of the Company's current and future research and development programs, preclinical and clinical trials, as well as economic, market and social disruptions. For a detailed discussion of the risk factors that could affect the Company's actual results, please refer to the risk factors identified in the Company's SEC reports, including but not limited to its Quarterly Report on Form 10-Q dated May 8, 2025. Except as required by law, the Company undertakes no obligation to update publicly any forward-looking statements for any reason. Investor Relations & Media:Nicole in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
