david solomon said m&a is likely to slow. given the uncertainty in markets, the pace of m&a activity, new deal activity has slowed and the expectation of 2023 is that it will slow. he is also still seeing executives do you want to still do deals. frankly, goldman has been a big beneficiary. the investment banking business, while down overall, the advisory part that tends toward m&a, was still $1 billion the past quarter. what is the run rate moving into 2023? i want to bring you another quote he gave me because this applies to trading, leverage loans, investment banking. what they had said is they are running a tighter risk lens. they are running more cautiously. he says, i think people are watching government that markets and thinking about the places where there is leverage. i think that is important to keep in mind. i took a look at goldman's value at risk. if you look at the trading desks, it is not up across every business line. where was up was interest rates in particular compared to the other businesses. when we talk

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>> david solomon was clear that he does not think there will be a recession.. it won't be 1980s all over again. but when you ask them what do you wish would happen, what's the one thing you wish, david solomon talked about coming together, compromise, political discourse on both sides, bipartisanship. i think that's a similarity from both of the two major banking ceos from the u.s. they both said the same idea that they wish there could be more bipartisanship, more meeting in the middle. >> really interesting conversation. it's great to see you, richard, and great to have you there. thank you so much. >> thank you. >>> before we go, i want to note the passing of two important figures from two very different fields, of course. former secretary of defense, ash carter. he died today at the age of 68. his family says that he died after suffering a sudden cardiac event. carter served during the final two years of the obama administration. and in a very different field, the world is also remembering the beloved actor, comedian and instagram star leslie jordan. he di

what jamie dimon, what larry fink, what i believe david solomon, what i understand they're telling theden administration is back off the belligerence okay? we need them. they need us and you know, the saudis have a side here. okay biden thought he had a deal, right, that they were going to ramp up oil production. instead they cut it by a couple billion barrels but there is a reason why they did that and they say they signaled it to the biden administration. liz: they cut it by two million. >> two million. what they're saying, the saudis are saying opec cut it, we agreed to do this, they were kind light the lead dog in opec because we want to keep this oil at 80 to $90 a barrel. it was coming down anyway. if we increase production well guess what, it would probably go down further. you are releasing strategic oil reserves. we have a business known as saudi aramco that needs to make money. we thought you knew that. apparently the biden administration didn't know that but that is what they're telling the wall street guys at the conference. so there is a rational. the wall street people ar

today, which would basically be the second reorganization of g goldman's business during ceo david solomon'ser the past four years or so, making it look a little like it's pure in terms of a standpoint seas management in one, investment and sales another bucket and consumer consumer businesses including recent acquisitions in a third bucket something to look for tomorrow announcements on that front as well as, of course, what it's done in its core competence with regard to investment banking and salesman trading. >> thank you, leslie we'll look for all of that and an exclusive interview with david solomon on roblox. shares surging huge turnaround for a stock down nearly 70% from a record set just over a year ago investors cheering on stronger september numbers out from the gaming company daily active users closing in on 58 million up 28% from last year hours engaged bring it to 4 billion. and bring in from sensor tower tracking key metrix. how much a fundamental shift from roblox? >> thanks for having me. end of september saw end of a summer smooth. roblox younger demographics does well duri

. >> trace: that is david solomon predicting a recession.rs to have support of jeff bezos tweeting in response, the probabilities tell you to batten down the hatches. let's bring in brian brenberg from kings college in manhattan and a fox news contributor and jackie deangelis. jackie, to you first. you've got goldman sachs saying be cautious. you have bloomberg projecting that a recession is 100%. this is bad news for the administration. >> good afternoon, trace. jamie dimon from j.p. morgan chase saying we're likely headed to a recession by mid 2023. earlier he said we have a economic hurricane ahead of us. so you know, these ceos are looking at their businesses and the economy overall and seeing how policy is having an impact. in that interview, david solomon said there would be issues with this administration and how it proceeds forward. it's those policies that would impact how long said recession would last. so that's what the big ceos have -- they have their pulse on the business out there. that's what people need to be thinking about,

as david solomon of goldman sachs reminded us, recession is still very much out there. >> when you find inflation is embedded, it's very hard to get out of it without a real economic slowdown. so i, too, am in the camp we likely, likely, have a recession in the u.s. going to have i think, most likely recession, might be in a recession in europe. >> reporter: now, nobody is forecasting a recession or anything like that of the 1980s, but you have to remember, there's an entire generation of people who have no experience of slowdowns, recessions and tight money with interest rates up 4%, 5% 6% 7%. so, john, the scenario is glooming. what really worries people here, what worries all this is geopolitical risk and how it could get a great deal worse. >> yeah. a lot of danger points all around the world. richard quest in riyadh. great to have you there, my friend. thank you. >>> opec+ -- russia and saudi arabia are "weaponizing oil and gas." that from the u.s. former ambassador to saudi arabia. how he thinks the u.s. should react. >>> and brittney griner back in a russian courtroom this hour t

listen to david solomon who says we will likely be in a resession.ke this where inflation is embedded it is very hard to get out of it without a real economic slowdown. i too am in the camp we likely have a recession in the u.s., going to have i think most likely a recession, might be in a recession in europe. reporter: so the underlying discussion at the roundtable that included jamie dimon was a discussion about energy security. now the common theme that you cannot go green without a combination of fossil fuels, that is the strategic petroleum rye serve there. dimon was optimistic regardless of the rift between the u.s. and saudi arabia the two countries will be able to work things out. >> saudi arabia and the united states have been allies for 75 years. i can't imagine of any allies agreeing on everything and not having problems. they will work it through and i'm comfortable that folks on both sides will work it through and these countries will remain allies going forward. reporter: still to start the conference the saudi energy minister gave a wa

what is the market on david solomon? this is the third major reorganization of his organization.gnature moves from his last major restructuring in 2020. that seems like a move that has been made under pressure. jonathan: what is -- tom: what is the pressure versus a publicly traded board structure? is there heat from the board or selected members, or is it from the managing partners, whatever the main phase is of the partnership? sridhar: if the goldman sachs stock had been outperforming everyone else, there would be no pressure. that has not been the case. in the last four years the firm has not been able to re-rate the stock. it has not been able to get that jump relative to jp morgan. when there are so changes and the ceo is trying to change the very fabric of goldman sachs to what he hopes it will be down the road, it will create a certain level of discontent, and that will bubble up to the surface. lisa: how much has david solomon lost the faith, not only in the investors, not only in the board, but people in the rank-and-file of goldman sachs? sridhar: it is -- he would arg

tuesday, what we are expecting is for the ceo who has been at the home for four years david solomon to make a major reorganization announcement. the third since he has been at the helm. it will according to sources undo the signature moves he made back in 2020, global banking and markets, it will merge the money-losing consumer retail unit that david solomon personally had champion but investors did not seem to like. it will merge that with the asset and wealth management and there will be a lot of leadership changes as well. look at the red on the screen for year to date for a moment and so many other banks and the explains why goldman is making this move perhaps at this time. back to you. haidi: we have been following the movements in the credit suisse story. they are considering starting the sale of the u.s. asset management business. >> bloomberg reporters have been reporting on this story, several stories out today, they are among the most read, bloomberg reporters finding that the battle's was a way to tear down after a series of scandals and losses and they are considering a sal

lisa: you think david solomon is doing a nice job.ople would disagree including the board and some of the people who would reverse his changes and call mark is a big mistake. even though it's losing money and hasn't gained traction, how can you say it's not a mistake? >> on the consumer side, you don't start a consumer business and reach scale into or five years. the business is losing maybe $1 billion which is not immaterial but relative to the firm that will make well over 10 ilya and on the year, it's manageable. in our opinion, this is part of a longer-term opportunity for the company and i think they are gaining traction. i cover fintech very closely in one of those firms are strongly in this environment because they were operating business models that try to be loss leaders to gain market share but that doesn't work anymore. these are the moments where you gain market share. you don't necessarily see it in the moment it is happening. i would push back and say david solomon has been navigating a tough environment since he's taken

what does it mean for the credibility of david solomon and his standing within the banking world andategy? >> it's bad news for all of them, yougov are -- you never want to see them reverse course. this was embarrassing to say this is how we get regularly occurring revenue and now they are splitting it out, it is not a top priority. francine: do we have a clue in third quarter earnings because this is they did not do as well as they expected? >> earnings come out tomorrow. this is all meant to be announced ban, they have been hurried into the sort of revelations and it will be interesting how he characterizes it. tom: interest around earnings and what else are you looking for? earnings came through for citi and to jp morgan, a bit of a disappointment. >> we are looking at goldman, we will look at their trade number. the investment bank will struggle like all the other banks, it's a question how much traders can cover shortfalls. for a via banks, you did see it happen but morgan stanley was a disappointment for markets. tom: another restructuring at goldman and looking at earnings. ,

goldman sachs's david solomon thinks energy and immigration policy will dictate how well the us will navigate these challenges and emphasize investors need to be cautious. >> you have to expect more volatility on the horizon. doesn't mean for sure we have a difficult economic scenario but distribution of outcomes, good chance for the recession. >> reporter: jamie dimon warning of an impact -- impending recession. higher inflation, interest rates and the war in ukraine, serious challenges, and the s&p 500 could tumble another 20% due to such a downturn, we are down 20% for the year and instead of heeding those called the white house is pushing back and edward lawrence asked the administration about industry warnings and the president doesn't expect a recession because of the economic plan in place. the administration has been wrong before. they called inflation transitory but it is tough on the credibility side when your messaging goes against the most successful businessman in the world through similar storms. neil: thank you very much for that. we have the strong dollar, the whole w

we have an interview with david solomon later this morning we hope to talk about those numbers and future of the firm >>> this has happened before rupert murdoch looking to combine news corp and fox. back together in one publicly traded company this recreated the company that he split apart nine years ago. the move wiould consolidate powr with his son lockland. he is the ceo of fox currently it reunites fox news with wall street journal and new york post the boards have established committees to evaluate a possible merger. >> they split it off with the smaller assets >> if you look at the multiples. i think it is possible the shareholders will vote this down i don't think the reporting is accurate enough. this is a transaction that is not ultimately controlled by the murdoch family this is controlled by the minority of the majority the murdochs own 13% of the vote it would go to them. think about news corp. they are trading at 17 times multiple if you look at fox, 4 times multiple you could argue that news corp would stand up fox not the other way around i don't know if people are going t

and to say, look, half the market is in a bear market and half is in a bull market i listened to david solomon this morning. i know we have a clip. goldman at seven times earnings is just wrong. it's just wrong. it doesn't belong there. the book values -- i thought david made a very good case. and then you have j&j. give me a break. it had a fantastic quarter but the companies at the beginning are goldman. >> solomon was on squawk pworbgs talked about the chance of a recession and the way in which clients are using it to restrategize here's what he aid >> i think it's a time to be cautious and i think that if you're running a risk-based business it's a time to think more cautiously about your risk box, your risk appetite i think you have to expect there's more volatility on the horizon. now, that doesn't mean for sure we have a difficult economic scenario but in the distribution of outcomes, a good chance we could have a recession >> state street will follow along, jim billion dollar buyback >> well, yeah. a consistent revenue stream. what he is basically saying is that's not us. we're not lik

goldman sachs making a transition here today basically and david would say something else and i like david solomongood guy. nice, smart, honest guy, but he's spinning it a bit saying, you know, we haven't really given up ons consumer business doing this restructuring and layering the consumer businesses in other units. liz: he said it wasn't they cannot do what jp, they don't have the infrastructure to do what jpmorgan does on a consumer side offering products. it is not that easy to create. they tried to do it through the marcus thing, online banking unit. that doesn't mean they will get of marcus. marcus will be like a slush fund for them. this is what they do. they offer you deposits. they pay you two. they lend out your deposits at four. they will do that. not a bad little racket. that is why it is crazy all these wall street investment banks that have banks fdic approved because they're not really, they're not really doing traditional banking stuff. they're doing stuff like that. liz: shipment solomon come on the show. >> i will ask him. i think he should. shows too much favoritism to those b

sometimes they say you make up prediction, the vanilla part is my term when we hear david solomon ofachs say there's a chance of recession to which i add there is a chance i could lose weight, just a chance. that is not exactly vocal. increasingly a lot of players on wall street saying it is looking like a recession, others, closer to recession, others say we are already there. it is not the story. it has just begun. ♪ ♪ what will you do? ♪ what will you change? ♪ will you make something better? ♪ will you create something entirely new? ♪ our dell technologies advisors provide you with the tools and expertise you need to do incredible things. because we believe there's an innovator in all of us. neil: any time we get rumors around a big bank or financial term everyone on pins and needles we call on charlie gasparino. what is going on. charles: it is about going under. neil: you were way ahead. charles: they have a troubled investment bank index, management franchise, good banking franchise mainly in europe but their investment bank is here essentially. neil: it is alive and well. it

goldman sachs ceo david solomon adding to bank ceo conversation on state of the economy saying therehance of a recession time to be cautious after bank of america ceo brian moynihan said current environment is strong reported better-than-expected following jamie dimon, from jpmorgan doubling down on quote economic hurricane prediction last friday, we want to talk about the macrostory with citi constitutional group clients chairman leon thanks so much for being back to join us, what is your take on the macrostory how slow might things get to more data with a fed beige book out at 2:00 today. >> i think what we probably have a rolling reaction, in other words, parts of the global economy, have weakened significantly, you look in europe here right now obviously, the winter coming up, and people issue going to be looking at temperature versus heating versus costs i think a significant impact. u.s. the moment is resilient you look at the, season right now, it is so far pretty good when you think about it, the -- the marketplace in effect staying fed will continue to increase rates, and a

. >> here is david solomon in his own words on recession. >> i think you have to expect that there's more volatility on the horizon. now, that does not mean for sure that we have a really difficult economic scenario, but in the distribution of outcomes, a good chance we could have a recession. >> sandra: that conversation is important to go back to the initial discussion about the oil and gas companies. when the president says hey, look at oil prices and retail gasoline prices, gas should be coming down when oil comes down, they also have to play the volatility game. prepare for what we have been experiencing, extreme spikes and extreme drops in the price of energy. that is a toughen -- environment. >> torched through $450 billion in capital over the last decade. so they are not in such great position either. so, their hesitancy on the shell guys to invest more when you have the rhetoric coming out of the white house as we have seen that's undercutting and attacking u.s. energy. we could be looking at $6 gas, so the president draining the spr is unsustainable move, it is a gimmick, i

information so jeff pazo's worth $100 billion, third richest person on the planet agree with goldman ceo david solomonn cautious times ahead. predicting a recession, upcoming and jamie diamond says 6 to 9 months and the best trader ever on wall street, he says there's going to be a hard landing in 2,023. bloomberg says it is a 100% probably. stuart: is pazo's down to a mere one hundred billion? i thought it was worth 200 billion. lauren: he was but there has been a selloff in amazon shares. stuart: sorry to interrupt but inflation is chipping away at our standard of living. people are worse off now than they were a year ago. ashley: according to a report from salary finance, one in 3 workers including those earning 100 grand a year run out of money before payday and 3 quarters, 72% of consumers have less in savings than they did last year, that number up from february. more concerning is the survey found 29% of respondents have seen their savings wiped out entirely. a separate report by lending tree found 40% of adults said they are less able to afford their bills compared to a year ago. bottom line,

it will be a huge focus on what has already been reported as an announcement we can expect from david solomons expected to announce the third major reorganization in his four years at the helm. we are told it will undo many of his signature moves back in 2020. he will merge global banking and markets. he will merge the money-losing consumer sector, the markets unit he had promoted for so long, in with wealth management and asset management, and really backing away from attempts to make goldman more of a consumer friendly bank. rishaad: credit suisse rarely in the headlines these days. apparently the swiss bank is considering a sale of its u.s. asset management business. that would be quite something. >> this has been a top story all day. we have reporters around the globe reporting on this. sources tell bloomberg credit suisse recently began a sale process for the u.s. operation of credit suisse management, one of many moves we understand the bank is making as part of a major restructuring to be unveiled next week by the ceo who is trying to right the ship after billions of dollars in losses

look, you have the big shots, most of whom are democrats, not, you know, big -- david solomon, jamiefred smith a republican from fedex, all very pessimistic about the economy calling for recession. number one, i think the stock market has these moments i call the calvary is coming moments. i really do, even though the fundamentals are deteriorating. profits are holding up, that's not going to last long. interest rates are way up, four and a quarter on the ten year, but i think a calvary in there someplace, will not last, the bear market is not over. there will be, though, i'm going to be i am -- i'm following the sandra smith model, gdp in the third quarter, close to 3%, move is a better trade number, it's not lasting, the first half was negative, i'm just saying, i want to put that out there. >> sandra: i sense a little optimism. >> no, i'm really not. the problem i have with the overriding story is sticky inflation, the underpinning is about 7%, and the fed is going to be raising interest rates a lot more and we have not really felt the fed tightening yet. >> sandra: i think that's

david solomon warned that there's a good chance that the u.s. economy falls in to recession. he also thinks there's more volatility on the horizon. he said it's time to be cautious. solomon explained that inflation is more embedded and growth is slower. so depreciation will be tougher and noting that policy decisions will have a forward impact. ja jamie dimon said that investors should brace for a economic hurricane. he said the u.s. is likely headed for a recession by 2023. dimon cited steeper interest rates, run away inflation and the war in ukraine as his runs for the outlook. jeff bezos, amazon's founder, sounded the warning bells writing on twitter, the probabilities tell you to batten down the hatches. while elon musk warned tesla executives that he had a super bad feeling about the economy. the common threat here, neil, is that whether you're a bank ceo or a leading consumer business, there's going to be a downturn. how steep, how long it lasts is debatable at this point. these captains of industry have their fingers on the pulse of american businesses and consumers. t

pick picker >> thanks for joining us great to hear your perspective on the plight of the economy david solomonthere's a good chance we'd see a recession. economists say about a third of a chance for a recession in your role as president, you're talking with clients all the time, talking with the c-suite. what are they telling you about the state of the business about the potential for a recession. >> great to be here lessee appreciate the time. good to see you again. i would say most ceos are still of the belief that the u.s. economy is resilient while there's some early sign of weakness in elements of the economy, broadly speaking it's hanging in pretty well in the u.s., less so overseas the things we're watching are the forward indicators you want to watch advertising spend. you want to watch demand rebuild. supply chains working their way through. we've gotten through a lot of the disruption does the supply get reset back into those chains at the same level it was working through or are they working off of kind of last six-month demand orders and the new demand will come in softer i think t

goldman sachs, of course the latest firm there is possibility of a recession that coming from david solomon saying, i quote here. there is a good chance of a recession which would be like me saying there is a good chance i could lose weight. not definite, not definite. there is a good chance. kenny polcari the power bill has been paid. he is back with us. kenny, sorry about that. i was talking about all the bigwigs talking about the real distinct possibility of recession. there is always a real distinct possibility of a recession. what do you think? >> right but i think there's i think there's very much a real, bigger possibility of a recession is coming if it is not already here. what i started to say before i lost you, yesterday when we heard brian moynihan giddy how strong the consumer is and all that stuff -- neil: bank of america chair. >> bank of america, right but all the banks in this reporting season, all of them upped the ante in loan-loss reserves because they're all preparing for a more difficult time ahead. it was interesting to hear brian moynihan the consumer is great but put

bring this up if we can the jeff bezos tweet from last night, retweeting ceo of goldman sachs david solomonly a recession will happen than not. neil: it will be a rough ride. reporter: probables as he is a says. neil: exactly. i would put more stock in him saying more than anyone else. he sees it, right? reporter: how do you marry the airline results? bring up united for you -- neil: a lot of people -- reporter: along with delta. neil: consumer still strong. like you said the consumer is still strong and resilient. susan, as are you, thank you very much, susan li on all of that. the dow down 192 points right now. we're learning of course that republicans are increasingly confident that they will not only take the house, they will take the senate, now the big question becomes what do they do if they do that, like the next day? after this. ♪. millions have made the switch from the big three to the best kept secret in wireless: xfinity mobile. that means millions are saving hundreds a year with the fastest mobile service. and now, introducing, the best price for two lines of unlimited. just $3

. >> todd: david solomon of course, baeza was tweeting out probability of this economy with batten down the hatches and so many of us are doing that. that is when a recession we are currently in according to every metric really picked up steam. it is bad for the country. have you seen this? required nypd officer chases attackers down the street when sucker punch playing for knockout pain. one example of the crime and chaos happening across this state of new york. a retired officer joins us next. >> carley: across the country, record number of americans that they have no confidence at all the coverage they are getting. we are taking a closer look at those numbers. ♪ ♪ welcome to ameriprise. i'm sam morrison, my brother max recommended you. so my best friend sophie says you've been a huge help. at ameriprise financial, more than 9 out of 10 of our clients are likely to recommend us. our neighbors the garcia's, love working with you. because the advice we give is personalized. hey john reese, jr. how's your father doing? to help reach your goals with confidence. my sister told me so much a

if you go back in time and watch my interview with ceo david solomon from not that long ago, he said they took cost down and wealth management group was strong enough to generate tremendous earnings power. nailed it. and then there is lockheed ma martin be careful with lockheed martin. the numbers were amazing the stock has been going straight up as short sellers are scrambling to cover, bringing in bad bets netflix gave us the single best quarter of the earnings season gigantic beat with an extraordinary upbeat outlook i never seen management at this company as bullish as they were. i know the quality of the program and lined up and done enough on the ad supported tier to know it will be a home run. i would buy netflix right now aggressively that's how great i think this quarter was. wednesday we got another one that is misunderstood making moves and that's proctor and gamble this was a thing of beauty people haven't studied it. i've been around following proctor and gamble forever they got hit by cost and a tiny amount of trade. the analyst focused on the small amount of trade and

>> reporter: yes, listen to david solomon and jamie diamond, both of them saying that they think theer bad it might be. >> so i too am in the camp that we likely have a recession in the u.s. going to have i think most likely a recession. >> jamie, i agree. >> you agree where do you think we are in the process? >> six months away. >> all right. we lost richard quest. you can tell quite a day of discussions he had with some of the biggest most prominent leaders in the world. >>> more ties after weeks of pressure and antis-semitic hate speech finally catching up with him. your business, you can make it even smarter. nonow ports can know where evey piece of cargo is. and where it's going. (dock worker) right on time. (vo) robots can predict brereakdowns and order their own replacement parts. (foreman) nice work. (vo) and retailers can get ahead of the fashion trend of the day with a new line tomorrow. with a verizon private 5g network, you can get more agility and security. giving you more control of your business. we call this enterprise intelligence. from the network america relies on.

. >> here's david solomon, the ceo of goldman sachs. >> there's a good chance we can have a recession. i think you can expect there's more volatility on the ho roy zoon. >> one of the wealthiest men in the world, jeff bezos, responded, it is time to baton down the hatchets. even the recession fears are the worries of those just trying to put food on their kitchen tables, who were already struggling, given how inflation has been gobbling up bank accounts nationwide ahead of thanksgiving. the average cost of groceries is up 13% since last september. eggs up more than 30%. cereal, 16%. milk and cheese, 15%. with gas prices hovering at just about $4 per gallon on average, and they could soon rise again. look, there are lots of reasons for inflation. but the one that republicans point to dates back to 2021, when president biden signed a bill to spend another nearly $2 trillion -- trillion with a tri- -- to continue to ease the pain of the pandemic. that included hundreds in billion of direct checks to americans. at that time, it wasn't just republicans. it was also former clinton treasury

goldman sachs' ceo david solomon adding to the bank ceo conversation on the state of the economy sayinghance of a recession so it's time to be cautious but bank of america ceo brian moynihan said the current consumer environment is strong and jp morgan ceo jamie dimon doubling down on the, quote, economic hurricane prediction so mixed stories from the three banks but i think it's speaking to the strength of the consumer. we've got the fed beige book out today at 2:00 p.m. eastern. any expectations of of a big impact there from the beige book, mark? you have to wonder how long just one portion of the population is impacted by this. especially if people are going into their savings accounts to pay for 40-year high inflation. it catches up, doesn't it? >> it does catch up and a i think we're going to start to see the curve bend a bit. i think we're going to see ticks up in unemployment as we hear more layoffs. we heard microsoft slowing down hiring, google put a freeze on. meta slowed down. i think eventually manufacturing and capital intensive areas will feel the weight of the cost of cap

goldman sachs ceo david solomon he predicting a re-session in the u.s. recession in the u.s. here's what he said yesterday. >> generally when you find yourself in an economic scenario where inflation is embedded, it's very hard to get out of it without real economic slow darn. i'm in the camp -- slowdown. i'm in the camp that we likely have a recession in the u.s., going to have most likely a recession, we might be in a recession in europe. maria: not too different from what we heard from other ceos. the marty walsh stuff, maybe they need to secure the border before complaining about immigration. >> all that's very important. but for the average american we saw this new report out, one out of two americans today are thinking about getting second jobs and many of them already have that. so inflation is real. and that's something that we've continued to talk about. and talk about investment opportunities, peter lynch said never let a bear market go to waste. there's some huge opportunities in small caps where small caps have business here in the u.s., take

now, similar warnings coming from wall street titans, goldman sachs' ceo david solomon citing energyorder policy, of course, two areas very important to voters, are going to dictate how we navigate through this, and he warned that investors immediate on cautious. need to be cautious. >> i think you have to expect there's more volatility on the horizon. now, that doesn't mean for sure that we have a really difficult economic scenario, but in the distribution of outcomes, there's a good chance we could have a recession. >> reporter: solomon's counterpart at jpmorgan chase, jamie dimon, also warning of impending recession. the he thinks that will come in 6-9 months citing the war in ukraine as a very serious challenge. and, of course, not to be outdone, elon musk predicted a recession could likely last until spring of '24. he also tweeted how bad the economy will get, quote: varies a lot. tesla and spacex are in good positions, but many other countries -- companies are not. companies that shouldn't exist stop existing. that's a bit harsh from elon, but you've got ceos saying the pain is

you don't have to think back to far to end sin tech was of the range and david solomon spent the betterfour years pitching the benefits of a full-service digital bank. now with the bank under pressure, the changing environment is forcing golden's ceo to shake up his own source of business, that before i into main street, handling money for the masses. at one point, he jumped on a flight to meet reese witherspoon, this -- meet reese witherspoon. solomon was thinking that marcus could do the trick but look at the trajectory of goldman sachs stock, downwards 20% this year, all of that has created an environment where the shareholders are not that happy with markets. a little slow him down. >> let's get to the first word headlines. how could reassess its military but there a security cooperation in japan including u.s. strategic assets. they violate the security council and will strengthen sanctions across -- against his neighbor. china praising elon musk's proposal for a communication system for taiwan. the financial times profile, muska said he would support a special ministry of zone for

david solomon to bring more into the consumer retail giant and bring goldman into the banking retail it is a plan that had to be ditched. because of the shares which are now down some 20 plus percent and shareholders really wanting a better return on investment. a third division is going to be acid transaction banking, the financial technology platforms, specialty lender green sky. this is all according to the journal. to sum it up, they are taking the bank and putting all the units into three major divisions. the reorganization of the report could be announced soon. wednesday in asia and again, a major change for the bank coming at a time that many consider a brutal time for the banks but most bank shares are down 20 or 30% year to date. and investment banking in the earnings reports we have seen so far taking big hits across the board, deals have really declined. ipo offerings have declined. this is a very fascinating change at a time when many banks are saying they need to change with the times. back to you. >> that was su keenan in new york. let's look at equities. this is what w

. >> when bezos says he agrees with david solomon, who was on our air yesterday that, yep, the probabilitiesthis economy tell you to batten down the hatches. batten down the hatches. key largo. jamie dimon's out there telling them the hurricane's coming, jeff's putting the hatches down. >> i got to get to home depot and get some plywood my wife is hitting a new high of houses >> that's a lot of hatches >> how about these provisions for auto lending at ally today, jim the company says, "to ensure the company remains protects as recessionary conditions feel more likely to occur in the coming months. >> that's why i'm not into carvana and one of the biggest disappointments of the year was generac, saying one of their clients, basically, went to file for bankruptcy now, david, the rap on generac was, the grid is bad, you want to have ev, and all i know is that that was a preannouncement to end all preannouncements. they basically had every base covered about what could go wrong. we had less potential demand, partner went bankrupt. i mean, i was reading, like, well, let's just kitchen sink this o

davos in the desert is attracting big names jamie dimon and steve schwartzman and david solomon are herethe room behind me for the big event. it was set up to put saudi arabia on the map as a global investor and investment destination. fii, as it is known, future initiative aims to attract billions into the kingdom. it gives business leaders face time with the $600 billion public investment fund and others at a time when we have seen traditional markets whipsawed by rising rates and the energy crisis. the most interesting angle to all of this and you are observing that wall street is at riyadh, but the biden administration has not we have seen the frosty relationship playing out after cut cutting oil output that means no senior u.s. official has been on the ground as in the past i had a conversation with ant anthony scaramucci >> i think when you fight with your spouse or business partner or in the world of politics, you shouldn't push this fight too hard because both sides need each other i'm hoping for a reconciliation at that political level. i predict it will happen it will just take

. >> david solomon was on, went from 75 to 65. i think that's probably what it turns out to be.flexibility. interestingly when you talk about how am i going to build out my space which is what we talk about if you talk to the tech tenants, they'll say, does someone really need to be in the office to program, to code, to write an investment memo when they're going to sit at their desk with tear headphones on, head down and not talk to anybody? probably not maybe there's flexibility around that, but they do need to be in the office for creativity, innovation, brainstorming, socializing. >> right when they think about planning offices, which they're doing now, we're seeing a totally different office space being created. it is percentage wise much less private office, much more teaming spaces, gathering spaces, meeting, conference. food a lot of food. you think the food piece persists. >> everybody is running like disco parties to get people back to the office. at some point -- >> it's not that it's gathering around food sitting at tables where people are working and they have coffe

thank you very much. minister, solomon adama, a david renzi and minute mckenzie for being on the inside story. and i thank you so very much for watching. you can see the program again any time by visiting our website al jazeera dot com, and for further discussion, go to our facebook page. that's facebook dot com, forward slash ha inside story. you can also join the conversation on twitter. handle is at i. j. inside story for me. tell mccrae and the entire team here in doha bye for now. mm. with oh, once ccs wireless now posted to the villages. okay. i'll just close the personal japanese of sweet women teachers. daily struggles with isolation and battles with physical hardship. sacrificing their family lives for the education of future generations. women in the weight on al jazeera ah, revealing eco friendly solutions to come back. threats to our planet. on al jazeera, indonesia, your investment destination, the world's 10th largest economy is busy transforming, ready to beat your business, partner with a robust talent pool, politically and economically stable and strong policies. being

thank you very much. minister, solomon adama, a david, aaron, z and minute can z for being on the inside story. and i thank you so very much for watching. you can see the program again any time by visiting our website al jazeera dot com, and the further discussion go to our facebook page. that's facebook dot com, forward slash ha inside story. you can also join the conversation on twitter. handle is at i. j. inside story for me. tell mccrae and the entire team here and uh huh. bye for now. a ah. stories of hope and inspiration. short documentaries from around the world that celebrate carries and resilience in times of tamela. al jazeera select on now to their pre coin is an international electronic crypto currency used across the globe. it is the best part is exist on the planet, but few know how it's made its role in the criminal underworld. it's rise to legal tender. it's implications for the global financial system and the devastating carbon footprint it leaves behind its energy consumption is heard a massive step backward. people in power investigates crypto on al jazeera ah, bold an

thank you very much. minister, solomon adama, a david ramsey and minute can see for being on the inside story. and i thank you very much for watching. you can see the program again any time by visiting our website al jazeera dot com, and the further discussion go to our facebook page. that's facebook dot com, forward slash ha inside story. you can also join the conversation on twitter. handle is at i. j. inside story for me. tell mccrae and the entire team here and uh huh. bye for now. a ah. on november the 8th americans will vote all the seats in the house of representatives. at 35 percent of the senate will be contested. americans are expected to split on strict ideological lines with abortion and the economy named as the key issues. the results pull to find the rest of your biden's presidency and put americas democratic principles to the test. special coverage of the midterm elections on al jazeera every day in the pool. at least 3 mothers die. well kidding 1st in remote areas. 101 east. meet the bright medics and pilots saving the lives of mothers. and then you build on out to 0. wh

thank you very much. minister, solomon adama, a david ramsey and minute can see for being on the inside story. and i thank you very much for watching. you can see the program again any time by visiting our website al jazeera dot com, and the further discussion go to our facebook page. that is facebook dot com forward slash ha inside story. you can also join the conversation on twitter. handle is at a j inside story. for me. tell mccrae and the entire team here and uh huh. bye for now. a indonesia your investment destination, the world's 10th largest economy, is busy transforming, ready to beat your business, partner with a robust talent pool, politically and economically stable and strong policies. being the powerhouse indonesia is confirmed by the g. 20 presidency. bringing opportunities for you in vest indonesia now becoming a living legend that a young age was simply not enough. he transformed his influence on the pitch into political clout that brought peace to the ivory coast. posted by eric counselor, football rebel, the life of the da drop by the football who succeeded, where pol

david? and claim in said, is there block to block? court is answer brushing gears. maybe fall? no. as on elena. but it's director janice de solomon and not parish eleanor's cheery. burnt in british ground. 000000000000008 is oh oh the digit and the gate oh oh it is ah and it so if you are as well so that way it legit. plunging. i'm so that expect that i'm could as predict these my knowledge. well, i'm el paso lee. well, the reason is that the plan. do you don't all oh my, we just buzz. i'm and i do. oh boy. oh, boy. much. andre bushnell is, is it is, is she paid for? but bread into the, ah, the hello, the me. oh, b, l e. ah, ah, but just from, oh, no, li, just to just tore out of, ah, alice gemini here. so that what is the, the net but is there is that there's a bo this and then the mila i and the, or the but that they dung from please let us. and, and eleanor, denny mid if he, if the, the type a 12 month then he says here in the queue isn't been asia text, me giggle to type by 1020 to 40 pounds with the pattern this year. i this a lot. so so any that visual plays like that, but as i saw him in court press this year and you just

disturbingly low jeff bays joined jamie dimon dave solomon gloomy outlook tweeted yesterday the probabilities in this xh economy tell you batten down the hatches davido tell clients, you viewers in terms of preparing for what could be curve balls in '23. >> interesting ceos after nine months difficulty start saying get more defensive almost a contrarian indicator to some agree we tend to defenseively the posture i agree with, from are investor standpoint this is an internal lesson markets need before economic improvement comes they start pricing the stuff in for far in advance i think investor progressivelies like myself and leo have to be aware that have. maria: is this what this is mini rally we are seeing. >> that is impossible to say if anything i bond neeltsdz finding a top. >> mortgage rates hit 6.94% yesterday, there was highest since 2020 this morning september existing home sales out 10:00 a.m., but look the housing market is a perfect example, of the impact of higher rates from the fed. >> a i say not the number it is speed it takes to get to the number, so, 7% interest rates, wonderful when in mil of a 40-year bull market in bonds interes

come back, jeff solomon on how market volatility and rising interest rates could impact the outlook for deal-making, ipos, capital markets. check out shares of twitter. near session highs david faber reporting equity investors have received paperwork from the lawyers and the latest signing the acquisition is on track to close by friday. this is evolving from gym to global media company. this is connecting your people and content in one place. this is the system you built to transform your business. this is how. airtable. another busy day? of course - you're a cio in 2022. but you're ready. because you've got the next generation in global secure networking from comcast business. with fully integrated security solutions all in one place. so you're covered. on-premise and in the cloud. you can run things the way you want - your team, ours or a mix of both. with the nation's largest ip converged network. from the most innovative company. bring on today with comcast business. powering possibilities. >>> stocks rallying here for third straight session gains building throughout the day. joining us now is cowen ceo jeffrey solomon. good to see you. >> good to be here >> always a goo