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Goldman Sachs tightens employee bets in prediction markets
finance2 days ago

Goldman Sachs tightens employee bets in prediction markets

Goldman Sachs has instructed employees to limit their prediction-market bets to sports and entertainment due to compliance risks tied to material non-public information, with breaches potentially costing a job. The internal memo underscores banks' regulatory concern as platforms like Kalshi and Polymarket expand into financial bets on events such as elections and rates, drawing scrutiny over profits from advance knowledge; Kalshi is even exploring a multibillion-dollar funding round.

via Financial Times|
#compliance#finance#goldman-sachs
Firms tighten reins as insider trading fears mount on prediction markets
business3 days ago

Firms tighten reins as insider trading fears mount on prediction markets

Insider-trading risk is rising on prediction markets like Kalshi and Polymarket, with Goldman Sachs banning certain event-related trades and a Google case highlighting enforcement risks. Few companies already have explicit policies; many are still developing guidance, while experts urge proactive training, monitoring, and clearer rules—especially as exchanges expand oversight and regulators explore liability for corporate employees.

via CNBC|
#business#corporate-policy#goldman-sachs
Goldman Sachs Wins $70B Retirement Asset Mandate from Verizon and Lockheed Martin
finance3 days ago

Goldman Sachs Wins $70B Retirement Asset Mandate from Verizon and Lockheed Martin

Goldman Sachs secured a $70 billion retirement-asset mandate from Verizon Communications and Lockheed Martin, including about $30 billion in pension assets and $40 billion in Verizon’s defined-contribution assets (e.g., 401(k)s). The deals highlight the trend of large employers outsourcing retirement management to specialized firms amid rising complexity, as competition among asset managers intensifies. Goldman aims for more stable, recurring revenue from outsourced investments; its outsourced CIO business had about $480 billion in assets as of March 31, with roughly $3.7 trillion in assets under management across its asset and wealth management division.

via CNBC|
#finance#goldman-sachs#lockheed-martin
AI Could Displace 15 Million US Jobs, Goldman Sachs Economist Warns
business8 days ago

AI Could Displace 15 Million US Jobs, Goldman Sachs Economist Warns

Goldman Sachs economist Joseph Briggs estimates AI could displace about 9% of the US workforce—roughly 15 million workers—though he expects most displaced workers to transition into new roles rather than vanish. He notes ongoing job cuts in AI-adopting sectors like tech, management consulting, and graphic design, but argues tech-driven innovation has historically produced net job growth amid ongoing labor-market churn. MIT’s Neil Thompson cautions adoption may lag due to information access and costs, suggesting many roles will be only partly automated. The broader labor picture appears cooling, with June adding 57,000 jobs, unemployment at 4.2%, and a shrinking labor force.

via Business Insider|
#ai#business#displacement
World Cup Could Lift June Jobs Data by About 40,000, Goldman Says
business10 days ago

World Cup Could Lift June Jobs Data by About 40,000, Goldman Says

Goldman Sachs estimates World Cup-related activity could add about 40,000 jobs to June’s payrolls, nudging total nonfarm payroll growth to roughly 140,000 and above the 115,000 consensus, with the boost concentrated in leisure/hospitality, professional services, and trade/transport; Homebase data also show hospitality hiring rising while World Cup hosting cities lag year over year.

via CNBC|
#business#goldman-sachs#hospitality
Taktile lands $110M to automate high-stakes finance with AI agents
startups-and-venture17 days ago

Taktile lands $110M to automate high-stakes finance with AI agents

AI startup Taktile closed a $110 million Series C led by Goldman Sachs with Tiger Global, Index Ventures, and Y Combinator to turn AI models into dedicated agents for sensitive financial tasks, such as processing insurance claims and expediting payouts. The funds will further build out the platform and support a new São Paulo office.

via Fortune|
#ai-agents#financial-services#goldman-sachs
Goldman Cuts Gold Forecast on Fed Cut Doubt in 2026
business23 days ago

Goldman Cuts Gold Forecast on Fed Cut Doubt in 2026

Goldman Sachs trimmed its year-end gold target by $500 to $4,900/oz, citing no Fed rate cuts in 2026 and weaker gold ETF inflows after pushing back rate-cut expectations to June and December next year; the bank remains constructive on gold but tactically cautious, with prices around $4,165 and a possible move toward about $4,400 by year-end if policy stays hawkish, supported by ongoing central-bank purchases.

via Yahoo Finance|
#business#fed-policy#gold
AI Rally Frothy but Not a Bubble, Goldman Sachs Warns
business1 month ago

AI Rally Frothy but Not a Bubble, Goldman Sachs Warns

Goldman Sachs says the AI-fueled rally has left U.S. stocks exuberant but not bubble-level yet: a cluster of market-behavior indicators sits around the 86th percentile (below dot-com era and 2021 peaks), while improving earnings expectations and a 2026 S&P 500 earnings forecast of $340 per share support valuations. Sentiment is mixed—bearish bets tick up and Goldman’s gauge remains subdued—so the setup is frothy but not a full-blown bubble.

via Yahoo Finance|
#ai#business#earnings-growth
Goldman Sachs Employee Quits After Compliance Clash Over 'Investment Baker' Side Hustle
business1 month ago

Goldman Sachs Employee Quits After Compliance Clash Over 'Investment Baker' Side Hustle

Allison Sheehan, a Goldman Sachs wealth manager known online as Investment Baker, left the firm last year after compliance flagged her branding and posts about baking while employed on Wall Street; she has since built Alleycat Baking Co., now producing up to 30 desserts weekly and pursuing an MBA at Northwestern while exploring retail and baking-product ventures.

via New York Post|
#baking#business#compliance
Goldman Sachs puts Spain on 26% World Cup odds, but warns predictions are not gospel
business1 month ago

Goldman Sachs puts Spain on 26% World Cup odds, but warns predictions are not gospel

Goldman Sachs released World Cup odds, giving Spain a 26% chance to win, France 19%, and Argentina 14%, based on a model that analyzed ~20,000 matches and factors like history and momentum. The bank also lists advancement probabilities for all 48 teams, including Canada at 50%, Mexico at 68%, and the United States at 39% to reach the knockout rounds. Experts note that online prediction markets may aggregate information more efficiently, while also emphasizing soccer’s inherent unpredictability. Goldman concedes the model has limits and recalls a misprediction in 2018, calling this year’s forecast an exciting but imperfect exercise.

via CNN|
#business#goldman-sachs#prediction-markets
Goldman Sachs: Demand Destruction Could Temper Oil's Tight Market
energy1 month ago

Goldman Sachs: Demand Destruction Could Temper Oil's Tight Market

Goldman Sachs’ commodity team says rising oil prices are already eroding global demand, with May demand destruction estimated around 2 million barrels per day, potentially offsetting the physical tightness of supply. They also flag a possible $10 downside risk to Brent in Q4 as demand weakens, even as Middle East supply concerns remain a source of upside risk; Energy Aspects warns Chinese imports may fall to pandemic-era lows, and current prices hover in the $90s amid ongoing geopolitics and industry warnings of shortages.

via Crude Oil Prices Today | OilPrice.com|
#brent-crude#energy#goldman-sachs