Latest news with #GS
Independent Singapore
5 days ago
- Sport
- Independent Singapore
US Open: Who will be the next American to win it? Redditor asks
Photo: Freepik The tennis community has long admired American Andy Roddick, who played smartly and with charisma throughout his 13-year career. At the age of 21, Roddick secured his one and only Grand Slam title at the 2003 US Open against Juan Carlos Ferrero. Now, with the 2025 US Open coming up in August, a curious Redditor asked: 'Andy Roddick was the last American man to win the US Open. Who will be the next American to win it?' This sparked an interesting discussion with Redditors sharing their thoughts and opinions. One Redditor said Taylor Fritz might be the next American to win the Grand Slam title: 'I saw Taylor play at Wimbledon in the SF, and he definitely has the weapons to do it, but he needs to raise his levels a huge amount if he's going to beat Sinner / Alcaraz in a GS… He's the American with the best chance, though. Shelton is miles away.' However, others responded that Fritz needed better movements, otherwise it would be hard for him to beat top-ranked players such as Sinner and Alcaraz. Another Redditor remarked: 'Unless Carlitos or Sinner gets upset before the finals of the US Open…it will be TOUGH for any American to win it… BUT if they get upset…out of the choices…I think Taylor has the best chance. His game has really matured a lot this past 1-2 years.' Others said the next American athlete to win the title won't be coming from the current pool of tennis players on the tour. Fans are not confident that Fritz will get past Sinner, and Ben Shelton is not good enough either. ' Most likely no player on tour… Fritz or Shelton winning isn't impossible but incredibly unlikely. They'd need to play lights out and hope the top seeds are having a rough day,' a Redditor declared. However, even though there were doubts about Ben Shelton's career, other fans still believe in his capabilities. One commented: 'Ben Shelton. He's a young, ascending player whose game translates very well to the US Open courts… Probably won't happen in the next year or two, but he will have a good chance at it in his prime.' See also Mattress, McDonald's, moaning: tennis tactics for Aussie isolation Aside from Fritz and Shelton, Frances Tiafoe was also mentioned, with fans noting that he plays well at the US Open. Another player mentioned was Learner Tien. Fans believe he is likely to win the tournament two to three years from now. The US Open is the last of the four Grand Slam tennis tournaments every season. It comes after the Australian Open, the French Open, and Wimbledon. () => { const trigger = if ('IntersectionObserver' in window && trigger) { const observer = new IntersectionObserver((entries, observer) => { => { if ( { lazyLoader(); // You should define lazyLoader() elsewhere or inline here // Run once } }); }, { rootMargin: '800px', threshold: 0.1 }); } else { // Fallback setTimeout(lazyLoader, 3000); } });
Hindustan Times
6 days ago
- Business
- Hindustan Times
Chinese Social Media Hashtag Signals Growing Frustration With Job Market
Chinese social media buzzwords can offer insight when official data is unreliable. One hashtag making the rounds shows mounting frustration among jobseekers, signaling that efforts to boost employment are falling short. The phrase 'beauty in the time of economic upturns' has been trending on Chinese sites for months, a nostalgic reference to the 2000s-2010s when it was common for fresh graduates to field multiple job offers. China's youth nowadays aren't as fortunate. The private sector can't accommodate millions of young people entering the labor market each year, forcing many to accept positions that don't deliver on dreams of fat paychecks and job security. Many compete to join the ruling communist party to lock down a job in its vast bureaucracy. This year's trade war with the U.S. has added to the sense of uncertainty about the future. Hitting the official 5% economic growth target looks like a stretch, consumer confidence is weak, deflationary pressure is entrenched and there's no end in sight for the property sector's slump. 'We see continued signs of deterioration in the labor market,' Barclays economists said in a recent note, pointing to employment subindexes in recent purchasing manager surveys showing that angst surrounding U.S. tariff is slowing hiring. Economists look at PMIs and other indicators due to the unreliability of official job market figures. China's statistics bureau paused the release of youth unemployment data for a few months after the rate hit a record high in June 2023, and started posting them again after making changes to how it calculates the number. Goldman Sachs's wage tracker suggests the pay growth has been trending down since the first quarter of 2023 when China ended its zero-Covid policy. Despite economic growth in the most recent quarter, sluggish pay increases could weigh on consumption through the rest of this year, GS said in a recent note. Beijing's stepped-up efforts to bolster employment don't seem to be bearing fruit yet, even though its introduced tax incentives for companies and more vocational training for job seekers. Barclays's gauge of private-sector indicators, plus anecdotal evidence across industries and regions, point to scant improvement in the labor market. Instead, there have been more reports of pay cuts and layoffs, the economists said. A poll by Beijing-based Cheung Kong Graduate School of Business shows that hiring has been much weaker than average for the past two years, said Ernan Cui at Gavekal Dragonomics. Those who do get hired are making less and less, indicators suggest. Chinese wages fell sharply across multiple sectors last year, eclipsing the rout seen during the pandemic in 2020, to mark the worst outcome on record, she said. The tech sector has been the worst-hit in the private sphere, but public-sector employers have also cut wages, reflecting local governments' fiscal stress, Cui said. That's feeding into low consumer confidence, Cui said. 'Many people sense that their job and income prospects are precarious, and are thus unwilling to spend.' Policymakers will need to strengthen the social safety net and encourage private sector growth to boost the availability of high-quality jobs, economists say. Until things improve, 'beauty in the time of economic upturns' could continue to trend on Chinese social media. As one blogger on lifestyle app RedNote put it: What people are reminiscing about is when income growth and appreciating housing prices were a certainty, 'and there was a sense that entrepreneurial spirit will be rewarded, things that were never questioned during better economic times.' Write to Singapore editors at singaporeeditors@
L'Orient-Le Jour
21-07-2025
- Entertainment
- L'Orient-Le Jour
Twenty-second scene leads to censorship of Bourjeily's ‘Msha'lab'
The sharp snip of censorship from Lebanon's General Security (GS) office falls once more, silencing artistic voices and trampling the constitutional right to freedom of expression. Just last week, this familiar clampdown echoed again with the banning of Msha'lab (Disordered), a film halted over a brief twenty-second scene portraying young activists preparing a peaceful protest. In that pivotal sequence, viewers witness a group of youths reviewing footage on their phones — footage capturing security forces violently confronting one of their friends during a nonviolent gathering. The activists exchange a few quiet remarks before the film proper unfolds. Directed by Lucien Bourjeily, " Msha'lab" is part of an anthology project curated by Bechara Mouzannar and produced by Mouzannar alongside Philippe Jabre. The film stitches together four short films by Bourjeily, Bane Fakih, Wissam Charaf, and Areej Mahmoud. It has already made its mark, screening at Beirut's "Écrans du Sud festival" at the Metropolis cinema, and internationally in Paris, Dubai, Zurich, Washington, and Egypt's Al Gouna Festival — where it won the Audience Award for Cinema for Humanity. In the first segment directed by Bourjeily, who is unfortunately no stranger to tussles with censors, the film follows a meeting of students organizing their mobilization after witnessing one of their friends violently beaten by Lebanese soldiers. The video in question is authentic: it was filmed live during a demonstration in downtown Beirut, then sent by phone. One of the characters even comments, "they have no heart." It is precisely this reality that Lebanese censors deem unacceptable, even illegal. GS thus made removal of this sequence, brief as it is, a condition for authorizing the screening, without even conveying this demand in writing to the director or distributor, as is usual procedure. According to Bourjeily, it was a verbal notification, as per common practice, he tells L'Orient-Le Jour. "The importance of this scene," he explains, "lies in the fact that it is part of a long 22-minute take that ends exactly as it begins: with the same activists watching another video on a phone. It was a directorial choice to create a loop, an effect of being trapped." Removal or prohibition Bourjeily was ordered to choose: remove the sequence or see his film banned. A painful choice, and contrary to the principles of creative freedom, he says. Along with the distributor, he agreed to cut the scene so the film could be released, initially slated for July 3 but delayed by one week. The film, scheduled for a two-week run, thus lost some of its artistic impact and visibility. The censorship cut an essential sequence for understanding the work, causing a narrative imbalance. It also deprived Msha'lab of a week of screenings, resulting in economic and symbolic losses. Bourjeily says he chose not to penalize the three other films in the project. What angers him most is that this scene depicts a lived reality: he himself was victim to violence in 2015 during a sit-in at the Environment Ministry. "This is a true story, not fiction. Lebanese people have been killed or seriously injured in peaceful demonstrations, some have lost their eyesight, and the perpetrators have never been held accountable. And it is us, the artists, who are punished for having documented these acts of violence and tried to discuss them in a film — not on a battlefield." A cycle of violence For Bourjeily, this is a new kind of violence. "Today, I am once again subjected to violence by the system via the censorship office — morally, economically, and artistically. The intent seems to be preventing any criticism, silencing voices that question freedoms, and imposing a single narrative: that of those in power. Such logic only encourages self-censorship among creators." And he asks: "Where is the responsibility? Why censor this video? To prevent us from remembering? Why do we still have prior censorship? Why are security agents authorized to judge our works? Why isn't there a civilian, specialized commission in charge of evaluating works, without having the power of prohibition?" He is not surprised to be caught by the censors once again: a scene from the film " Ghada el-Eid" (Heaven Without People) was also censored, his plays" Bte'taa Ma Bte'taa" (It passes or doesn't pass) and "Beirut Syndrome" banned, 27 scenes cut from the play " Habibit albi inti," (my beloved) and a short film he produced, written and directed by Farah al-Shaer, was banned. "Is this really a new era, as they claim?" the director wonders. "Because if you look at actions, not words, nothing has changed." He adds: "Why am I specifically targeted?" For him, censorship in Lebanon is like an iceberg: "What is reported in the media is not even 5 percent of the problem. Many artists remain silent, fearing reprisals. The system often reacts violently: my passport was confiscated in 2014 because I openly criticized the banning of my play Bte'taa Ma Bte'taa, which had been banned in 2013." What role for the Culture Ministry? What of the Culture Ministry's role? Bourjeily, visibly bitter, confides: "I don't even know if Minister Ghassan Salameh was informed. In any case, it currently falls under the Interior Ministry. I do not expect either a statement of support, an official stand by the ministry, or even from the filmmakers' union, of which I am a member." He calls on decision-makers to match words to actions: "Otherwise, as always, reform will remain wishful thinking." Contacted by L'Orient-Le Jour, Culture Minister Salameh said he "fully supports the right to intellectual and artistic expression," while acknowledging that 'current legislation grants General Security the right of censorship." He added that he would do his best to move legislation toward giving the Culture Ministry 'if not responsibility in these matters, then at least the necessity of a prior opinion.' The Alliance for Freedom of Expression, expressed solidarity with Bourjeily, denouncing prior censorship as a form of arbitrary interference that stifles creativity and fosters self-censorship, which is destructive for artistic freedom. Finally, it is worth noting that the censorship power granted to GS is based on a 1947 law with "vague wording and selective enforcement," according to the Alliance. It allows a film to be banned for 'undermining public order, decency, public sentiment, the dignity of public authorities, or the national interest.'
Miami Herald
17-07-2025
- Business
- Miami Herald
Veteran trader parses Goldman Sachs Q2 report, offers surprising view
In 1869, a German immigrant named Marcus Goldman started a business in New York City in a one-room basement office next to a coal chute. The firm didn't stay in the basement for long. Don't miss the move: Subscribe to TheStreet's free daily newsletter The business grew at an astonishing pace until it became the legendary Goldman Sachs (GS) , one of the world's largest investment banks. Three U.S. treasury secretaries who came directly from Goldman Sachs - Robert Rubin, Henry Paulson and Steve Mnuchin and the firm's broader history of employees transitioning into high-level government positions inspired the nickname "Government Sachs." In 1987, more than a century after Marcus Goldman opened for business, TheStreet Pro's Stephen Guilfoyle applied for a job at the prestigious firm and was called in for an interview. "I had the Marine Corps on my resume, and I was going to night school, but I didn't know much about the business," he said in a recent column This was before the infamous stock market meltdown, when Guilfoyle - who is known as Sarge, in line with his rank as a sergeant - was working for the Pershing division of Donaldson, Lufkin & Jenrette. More Economic Analysis: Federal Reserve prepares strong message on long-term interest ratesMassive city workers union approves strikeAnalyst makes bold call on stocks, bonds, and gold "On Wall Street, some used to call them 'The Empire,'" he said "Others used to say that if you needed 1,000 hammers today, Goldman Sachs bought the hardware store yesterday. If you needed 1,000 birthday cakes today, Goldman bought the bakery yesterday." Guilfoyle said he had not known how elite people at the storied investment firm thought they were - but he soon found out. "The interviewer made a donkey's tail out of me, asked me questions I couldn't possibly answer, which may have been a test in hindsight," he said. "Finally, she asked me, 'What in the world makes you think you are worthy of working for Goldman Sachs?' " Needless to say, Guilfoyle didn't get the job. And so he moved on. "By 1998, I had become one of the more well-thought-of floor traders at First Boston during the dot-com bubble," he said. "I ran a section of the floor. I had been added to the execution side of the investment banking team. I was no longer a 'know nothing' looking for a job. I was being well compensated." And then about 11 years later - well, what do you know? - along comes Goldman Sachs looking to recruit Guilfoyle. "I laughed and laughed," he said. "I then told the recruiter that I would rather be out of work than work for Goldman Sachs. I never forgot how I was treated in their offices when I was really just a buck sergeant looking for a job." Many years later, the veteran trader did indeed find himself out of work, and it turned out to be a blessing. "I started my own business and have been working for myself for more than nine years now," he said. "Looking back, I can't believe that I ever allowed myself to work for someone else for so long. Had things not worked out the way they did, I never would have realized my potential." Still, he added, "I don't like the way that Goldman recruiter treated me on that day in 1987." On July 15, Goldman Sachs beat Wall Street's second-quarter earnings expectations, with profit jumping 22% and revenue surging 15% from a year ago. "Amid shifting market dynamics, we remained relentlessly focused on serving our clients with excellence," Chief Executive David Solomon said on the earnings call. "Our global client franchise has never been stronger, and I'm proud of how we've helped our clients navigate periods of heightened uncertainty." Goldman posted GAAP earnings per share of $10.91 on revenue of $14.58 billion. "These numbers not only crushed expectations but also compare very well to the year-ago EPS of $8.62, while reflecting year-over-year revenue growth of 14.5%," he said. Related: Microsoft analysts reboot stock price targets ahead of Q4 earnings Guilfoyle acknowledged his bad blood with Goldman Sachs, while noting that "I am sure no one still working there knows who I am. "I could be biased as I go through my analysis of the firm's second-quarter earnings, but I have never been a fan," he said. "I have traded the stock but never invested in the name, despite its success." Still and all, Guilfoyle analyzed Goldman Sachs's chart. The shares might be "setting up for another leg of the stock's recent rally," Guilfoyle said. From mid-February to well into May, the chart formed what technical analysts call a cup-and-handle pattern, with the stock running up from $620 to $726 and then pausing, Guilfoyle said. The stock now appears to be forming what's called a bullish pennant, which means the "uptrend is still in place," he said. Several investment firms also issued research reports following Goldman's earnings release. Argus boosted its price target on GS to $765 from $580 and affirmed a buy rating on the shares. Goldman's second quarter reflected record results in equities as well as strong advisory revenue, investment banking fees, and fixed-income, currency and commodities results, the firm said, according to The Fly. The investment banking environment, which had a few false starts in 2023 and 2024, has rebounded from the first-quarter tariff-related market turmoil and uncertainty that paused deal activity, Argus added. Related: Fund-management veteran skips emotion in investment strategy The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
17-07-2025
- Business
- Yahoo
The Goldman Sachs Group Inc (GS) Q2 2025 Earnings Call Highlights: Record Revenues and ...
Net Revenues: $14.6 billion for the second quarter. Earnings Per Share (EPS): $10.91. Return on Equity (ROE): 12.8% for the quarter, 14.8% for the first half of the year. Global Banking and Markets Revenues: $10.1 billion for the quarter. Advisory Revenues: $1.2 billion, up 71% year-over-year. Equity Underwriting Revenues: $428 million, flat year-over-year. Debt Underwriting Revenues: $589 million, down 5% year-over-year. FICC Net Revenues: $3.5 billion, up 9% year-over-year. Equities Net Revenues: $4.3 billion, a record for the quarter. Asset and Wealth Management Revenues: $3.8 billion. Management and Other Fees: $2.8 billion, up 11% year-over-year. Private Banking and Lending Revenues: $789 million, up 12% year-over-year. Total Assets Under Supervision: $3.3 trillion, a record high. Alternative Assets Under Supervision: $355 billion. Net Interest Income: $3.1 billion for the second quarter. Total Loan Portfolio: $217 billion at quarter-end. Operating Expenses: $9.2 billion for the quarter. Effective Tax Rate: 20.2% for the first half of 2025. Capital Returned to Shareholders: $4 billion, including $957 million in dividends and $3 billion in stock repurchases. Common Equity Tier 1 Ratio: 14.5% at the end of the second quarter. Warning! GuruFocus has detected 10 Warning Signs with GS. Release Date: July 16, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points The Goldman Sachs Group Inc (NYSE:GS) reported strong financial performance in Q2 2025 with net revenues of $14.6 billion and earnings per share of $10.91. The company's Investment Banking division saw a 30% year-over-year increase in announced M&A volumes, indicating a resilient dealmaking environment. Asset and Wealth Management achieved record client assets of $1.7 trillion, with continued momentum in alternatives and long-term fee-based net inflows. The firm set a new record for total assets under supervision at $3.3 trillion, marking the 30th consecutive quarter of long-term fee-based net inflows. The Board approved a 33% increase in the quarterly dividend, reflecting confidence in the firm's financial durability and commitment to returning capital to shareholders. Negative Points Despite strong performance, there is ongoing uncertainty in industries sensitive to trade policy, which could impact future results. The company faces challenges in the harvesting environment for private equity-type portfolio assets, which may affect future returns. Geopolitical concerns, particularly in the Middle East, and unresolved trade agreements pose risks to the global economic outlook. The firm is navigating a complex regulatory environment, with ongoing discussions around capital requirements and stress testing transparency. There is a need for more transparency in the capital process, which currently lacks clarity and affects strategic planning. Q & A Highlights Q: What will Goldman Sachs do with its excess capital now that regulatory reforms have been implemented? A: David Solomon, Chairman and CEO, stated that the first priority is to deploy capital towards client franchises to produce accretive returns and support client activity. Opportunities are seen in M&A and financing. After that, the focus will be on returning capital to shareholders through dividends and buybacks. Q: How is Goldman Sachs handling the challenging environment for harvesting historical principal investments? A: Denis Coleman, CFO, explained that while asset prices and credit markets are improving, the environment for harvesting private equity-type assets remains challenging. The firm is committed to reducing historical principal investments, which now stand at about $8 billion, and will continue to do so as market conditions allow. Q: What is Goldman Sachs' approach to capital deployment opportunities, particularly regarding inorganic acquisitions? A: David Solomon emphasized that while the firm is always looking for ways to accelerate its franchise, especially in Asset and Wealth Management, the bar for significant acquisitions is very high. Opportunities must align with strategic priorities and offer a high level of confidence in the people and cultural fit. Q: How does Goldman Sachs view the impact of AI on efficiency and growth? A: David Solomon highlighted that AI presents a significant opportunity to automate processes, create efficiency, and drive productivity. The firm is investing in AI to enhance software development and client service, which will lead to both cost savings and growth opportunities. Q: What is Goldman Sachs' outlook on M&A activity, and what gives them confidence in this area? A: David Solomon noted that announced M&A is up 30% year-over-year, and the backlog driven by Advisory growth is strong. The level of dialogue with clients has increased significantly, and there is confidence in regulatory environments allowing for significant industry consolidation. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error 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
