david: you left bear stearns to come to goldman sachs in 1999? david s.: 1999. d: and goldman went public around that time, right? david s.: in january of 1999, jon winkelried and ultimately goldman sachs started to recruit me. i was in a relatively senior position at bear stearns. and i -- you know, i really wasn't interested. but jon winkelried kept calling and calling and calling and he caught me on a day where suddenly i said, you know what? i should really -- i should really look at this. and so in the summer of 1999, about two months after the ipo i joined the firm. , a smarter guy would have joined the firm two months before the ipo but i waited inial two months after. david: i tried to recruit you as well. you had a great reputation at bear stearns and worked out to come to goldman. when you came to goldman did you think you could be the ceo? was that in your mind at that time? david s.: no, absolutely not. i came to goldman, i -- i had done very well at bear stearns. and was in the leadership team . i was on the management committee at bear stearns in my

now, i'm focused on goldman sachs and helping goldman sachs move forward.id r.: what is the best advice any of your predecessor gave you -- any of your predecessors gave you? david s.: i've gotten great advice. i'm lucky to have the opportunity to talk and hear from them all about things they learned during their time running the firm, and there's lots of great advice that helps you make better decisions. there's no one stand out piece of advice, but here is what i know -- we make some good decisions. we make some bad decisions. the most important thing is when you make at once, to make adjustments. to always be open to learn and change and try to make sure you keep your compass point to true north. ♪ i can't believe you corporate types are still calling each other rock stars. you're a rock star. we're all rock stars. oooo look look at my data driven insights, i'm a rock star. great job putting finance and hr on one platform with workday. thank you! guys, can you keep it down. i'm working. you people are (guitar noises). hand over the air guitar. i've got a

goldman sachs says that those funds sold about 108 billions in global stocks.may sound like not such a huge number when you compare it for example to the market cap of the s&p 500, however when they start selling, you really feel it. so, where it is a go from here? goldman sachs, scott there was correct when he predicted the latest selloff and is getting more tactically bullish with a small window of an opportunity to buy the dip starting on august 30 to early september with two reasons behind it. systematic fund positioning is not as strict as it used to be. second, corporate buybacks will help stocks move higher. however, he has been quite cautious, saying that when this buyback window closes on september 6, he sees more volatility ahead. first of all because of fund flow into the equity market. secondly, anxiety around the u.s. presidential elections. scarlet: it always comes back to that anxiety. thank you for that. great set up. one stock that investors are buying right now is keycorp as the bank of nova scotia has agreed to purchase a minority stake in th

he is with goldman sachs joining me around the desk.d morning, luke. >> good morning. >> quite a wild month for markets. where do we stand right now? what's driving this rebound and is it sustainsustainable? >> not the quiet summer we were hoping for? has the market digested the difficult news from the u.s.? the macro picture not as bad as we feared. we had seen some weakening, but th things are fairly healthy. we see 2.8% annualized growth for the u.s. if we look at the worse t-case sce scenario, things feel pretty healthy. >> what are you telling clients right now how they should be positioning and allocating right now? >> our message is clear. stay in the market. take advantage of the very high quality names. they have come off a lot. don't think about this as a significant flight to safety. don't think of this as a big risk-off event with the underlining health of the economy. >> how do we explain the massive valuation reset we have seen in big tech? particularly around a.i.? can you stay invested given where valuations are right no

intel's long-time bankers morgan stanley and goldman sachs have been advising on these possibilities that could also include potential m&a. intel up more than 11.3%, rising through the course of friday's trade and marvel shares rising amid relentless ai hardware demand. reporting earnings results beating expectations and analysts responding positively to the report spurring up target prices already with the stock up more than 10.7% on today. another big story is openai's latest funding round, drawing interest from three of the most valuable technology companies, apple, microsoft and nvidia. for more we we bring in our bloomberg technology cohost in the heart of the story, the perfect person to talk to about this and many other things. ed, can you explain more about the funding round. besides thrive capital, what are you expecting from the biggest players in the space, the big tech companies? ed: openai needs money. training large language models requires compute. it requires talent. the nvidia component is interesting. 100 million dollars according to our sources is what they are tak

you got jpmorgan, goldman sachs, american express at or near record highs.re the banks worth your bucks, coming up. >>> and we're going to dig into retail. lululemon's latest numbers, and a disastrous day for dollar general. what these reports tell us or don't about the state of the consumer. we're back right after this. ♪♪ ♪♪ sandals jamaica sale is now on, visit sandals.com or call 1-800-sandals >>> all right, folks, it was another big day for banks. if you didn't notice, jpmorgan chase, american express, they're at record highs. pnc financial, its highest level since april of 2022. and guy -- >> yes, sir. >> goldman sachs, just a few dollars off its all-time best. you pointed out some of these runs. what -- what do you think is behind the run in banks and financials like amex? >> well, forget about american express for a second. >> one of those things doesn't belong here? >> i don't think it belongs. and if you looked, we had a downgrade of american express 2 1/2, 3 weeks ago that seemingly came out of nowhere. we'll say that was some what prescient. but

joining me now is tim from goldman sachs.see you. >> thank you very much for having me on, frank. >> i want to go over what we are looking at here. we have seen the yen gain 9% to the dollar over since the start of the third quarter. we have seen the boj raise rates. that unwound the carry trade. i know you know this. when you borrow the yen. you have to make sure everybody is on the same page. tim, has that unwound or could it completely respark? >> let's keep it simple and break it down. the data is not fully available or transparent. we have to play detective over here. the key points is there is clear evidence in the markets or that some portion has unwound. i think a fair portion of it given with the liquidity with the japanese yen. the currency markets, which include stop-loss provisions. any manager would force to hold it. if you want to look at the objective data, the short positions that the cb chicago board of trade, publishes every tuesday. that went from record lows in july to normalized positions as of last tuesd

you mentioned goldman sachs. >> are they moving from g grayscale to vanguard and blackrock?filings comparing q1 and q2 and getting out. >> that is interesting and fascinating to watch. mackenzie sigalos, thank you for that. >>> coming up on the show, markets are set to close out the best week of the year so far whether our next guest thinks this rally has what it takes to continue? that question will be answered when we come back after this. dave's company just scored the comcast business 5-year price lock guarantee. high five! high five! -i'm in a call... it's 5 years of reliable, gig speed internet... five years of advanced security... five years of a great rate that won't change. yep, dave's feeling it. but it's only for a limited time. five years? -five years? introducing the comcast business 5-year price lock guarantee. powering 5 years of savings. powering possibilities. >>> welcome back to "worldwide exchange." time for the "wex wrap-up." texas instruments is receiving funding to build three facilities in texas and utah. >>> shares of applied materials beats guidance

goldman sachs ceo david solomon says he is not expecting an emergency cut from the fed.ala harris takes aim at key states after governor tim walz was picked for the democratic ticket. the mastermind of the octobers of the tax is named as the new political leader of hamas, diminishing hopes of a gaza cease-fire. will bring you the latest from the middle east. let's check in on these markets. the only story that remains front and center, we had a be coming through. we have a downgrade in terms of the margin story. we'll bring you the details as they crossed. the most valuable company in new york coming through in terms of the latest second-quarter earnings. it is a mess in terms of net income. i will bring you more details as and when we get them. we look at the market story adjusting rally -- that stock you today. here is the redhead. of 20% and up 28%. they have raised their guidance on the top end of that range in terms of operating profit for the business. we know analysts have been looking for this. they raised their guidance. the previous estimates have been for 20.8

goldman sachs, how likely is a recession. >> 25% chance, one in four.say that's up from 50% so that the significant jump after the last round of economic data but they still see the recession risk is limited and the concern is escalating. another key recession indicator is unemployment rate, that ticked up to 4.3% last month this triggers the psalm rule that is likely already underway when you have the three month moving average for an employment it rises half a percentage point versus what you sell the low over the past year, bottom line hitting 4.3% checks the box and this is been accurate in defining every recession since the early 70s in you see the anxiety reflected in the market, the dow close to 12 at the point right now, globally the markets are really in every major market is down the nikkei was down over 12% that is the worst since you saw since 1987 and we just talked about it the crypto's lost every two to $50 billion in value in the last woody for hours. a lot of this anxiety is been attributed to the recession fears that the fed waited too

game. >> we did have the news at the top of the show that "the wall street journal" reporting goldman sachsing to lay off 1300 people. again, it's just a report. it's just the journal. we don't know if it's accurate. 1300. it's goldman. >> i'm guessing it's accurate because it's framed in the context of it's pretty much the annual culling of junior employees and others and i don't necessarily see that as something extraordinary, but there has been a wave of bigger company restructurings that has put a dampen on things like job opening indicators and things like that. you have to be aware of all of it. there is a productivity boost happening based on the data, simply because there's two different things, there's layoffs and then companies not hiring. >> well -- >> i don't hear a lot about companies hiring. >> no. the hiring has dried up, but layoffs have not surged to a point where people are very concerned. that's been one of the kind of positive spins on the last jobs report which was yeah, sure, unemployment rate is higher, more people looking for work. the hiring rate has slowed down. it

goldman sachs predicted that there's a one in 4 chance of the united states going directly into a recession in the next 4 months. and on top of that, we've seen a rise in unemployment. and the amount of new jobs created in july was not what was expected. now, many are also concerned that the federal reserve bank has not stepped in and adjusted interest rates and acted accordingly in order to stabilize the market. economists do not expect the market to continue crashing, but they don't expect a quick recovery either. uh, a quick bounce back is unlikely from what we're being told that the us, the big tech sector and the ongoing tensions in the middle east. all of that is spelling significant loss is on the market. a lot of anxiety on the part of investors at this time, not just in the united states, but also around the world. economist john chrysler says that the us as a worthy and a partial recession, image global upheaval on the markets a that's a signal that investors see a recession coming, and they see the tech bubble busting. and that can only be exacerbated the concern. we are already

goldman sachs predicted that there's a one in 4 chance of united states going directly into a recession in the next 4 months. and on top of that, we've seen a rise in unemployment, and the amount of new jobs created in july was not what was expected. now, many are also concerned that the federal reserve bank has not stepped in and adjusted interest rates and acted accordingly in order to stabilize the market. and all of that plays in to concerns that the best place to buy big tack on artificial intelligence may not pay off as they are intended. now it would be up to a new administration to handle the economy in light of continued drops and continued market turbulence. and that's why many are worried about complet harris. this clip of comma here is the democratic party nominated for president dressing house she would, for, i guess, would not deal with the issue of inflation, has many steering how a harris administration might respond to continued inflation. well, let's start with this. prices have gone up. and families and individuals are dealing with the realities of, of the, the bread

goldman sachs raises the chance for a u.s. recession to 25%.slashes its shares of apple in half. and keir starmer calls an emergency security meeting after a weekend of widespread disorder and far-right riots. let's check in on these markets. a meltdown in asia. the msci asia-pacific pacific has wiped out the gains of the year. topix is down 2% for the year. the bengs getting crushed in japan and in south korea. european futures pointing lower by 1.8% after 3% loss last week. the nasdaq 100 with losses again today. looking at further losses of close to 4% on the nasdaq 100 paired ftse 100 futures pointing lower by a full percent with the s&p futures looking at losses of close to 2%. let's look cross asset. the move into treasuries and the bond market rally continues after the gains we saw last week. the two-year saw gains, 50 basis points. a 10 basis point move lower today and building on the bond market rally with the expectation that the fed could go with a jumbo cut. it is a view of citi and jp morgan in september. markets pricing in a full

goldman sachs said the s&p could look at a new all-time high this week.li to surrender any companies he may have of a rare unreleased wu tang album. a crypto group is accusing him of keeping digital companies violating the purchase agreement. >>> and the home index is out at 9:00 a.m. we get earnings from box, nordstrom and pvh, the owner of tommy hilfiger and a number of other brands. >>> and investors are awaiting nvidia earnings tomorrow and july pce on friday. >>> let's bring in bill blue always great to have you here. >> thanks for having me. >> i want to get a sense how you see today shaping up. we've seen a rotation out of tech into other names. how do you view that today? >> i think tech is on its back foot here as everyone is waiting nvidia's earnings it's front and center here now we're a week removed from jackson hole i think it's also a consolidation. for me looking at the way the market came out of that april 2nd to 5th volatility event, it was pretty clingy so the fact we're consolidating back is healthy. there are other parts of the market

. >>> goldman sachs is lowering the odds the u.s. ll slip into recession next year to 20% from 25%. goldman raised the forecast earlier this month after unemployment jumped to the three-year high in july. in a note in weekend, chief u.s. economist says goldman changed its stance mainly because of the economic data in august, cpi and jobless claims, showed no sign of down turn. if the august jobs report is good, he would cut recession odds further. joining me now is robert teater. robert, great to see you. do you concur with jan? >> i do. we have been of the mind that the economy is headed back to long-term 2% growth rate. we see continued gains in payroll. we are adding to payroll. everything points to 2% economic growth for the foreseeable future. >> i know the jobs report is taking on a lot of speculation and a lot of the spotlight right now. between now and then, is there anything that you are looking for to really influence your investment strategy for this quarter? >> well, the fed meeting coming up later this week is incredibly

and like the markets, the banking giant goldman sachs is also feeling more positive, downgrading oddsession from 25 to 20%. joining me now is martin baccardax, senior editor and chief markets correspondent at thestreet. what is the focus for wall street? is it politics this week, or federal reserve and interest rates? i must apologise i am having trouble hearing you this morning, but if you are hearing you this morning, but if you al’ ., , ., , , ., hearing you this morning, but if you are able to get my signal clearly, this is a critical— are able to get my signal clearly, this is a critical week _ are able to get my signal clearly, this is a critical week for - are able to get my signal clearly, | this is a critical week for markets. particularly what you are saying what they are... they are looking for clarity on interest rate cuts which is very important for the market performance heading into the fall. and indeed what he has to say about the resilience of the us economy, which has surprised many people, particularly wall street analysts who say paring back the recession forecasts

david solomon, goldman sachs was pretty positive on it when he last spoke.h handleder are jeffries put out what i thought was one of the most bullitious states, if not the most bullish that i have seen. >> there are tremendous multi-year tailwinds for capital markets, especially the x factor the private equity trades, a dallas to get put to work. a hiccup in the market could put a monkey wrench in the market briefly. are there any accidents in the market given issue volatility in recent days. so far i don't see any. >> nor does jamie dimon, by the way, who was asked by less by about whether there's a recession or not. first thing he went to was credit, set it's fine. obviously things could get worse at some point. and the credit wards would expect they're backing that up. >> the one data point is corporate bond spend relative to treasuries are still close, still 100 base points out. back in 1998, they were double that. the largest bank/bond spreads are still close to -- >> so it's kind of giving a yawn, and the equity market is freaking out. it's the op sid

in the context of what we are hearing from jp morgan and goldman sachs.laims is part of the story. the weakening of the labor market. last week, we saw the highest number since november 2021. the number will be scrutinized given the volatility we've seen around the softening of the labor market. bloomberg economics sees a jobless rate, unemployment rate of 4.5% by the end of the year. currently at 4.3%. they see that moving higher to 5% in 2025. we will be scrutinizing the jobless claims out of the u.s. later today. different story around bitcoin. it was hammered along with other assets on monday. dropped about 10%. a bit of her spite in the session today around bitcoin and ether on a judge court order asking and ordering them to pay a fine of about 125 million dollars. sounds big. nothing compared to what the securities and exchange for. it is seen as a victory for some in that space versus the sec. relief for bitcoin and ether. coming up, we will speak with mario greco. another big day on earnings. we will get his view on how that come -- company is pos

that is much more than others like goldman sachs are predicting.a 25 point cut. expect a lot of volatility between now and the 18th. michelle fleury life is in wall street. joining us now is the head of foreign exchange strategy at the dutch bank rabobank, jane foley. jane, are we in freefall, or are there measures you're seeing emerge that could prevent further falls this week? if you look at the smp 500 which is the biggest stock industry in the us, we are off those lows. it is still down one point 26 on the day but it is often low. if we look at us deals they have also moved away from their worst level. the reason they did that is because we have had some us data this afternoon. another forward—looking purchase managers' index,in forward—looking purchase managers' index, in contrast to the survey we had last thursday which did trigger a lot of this anxiety. this was on the services sector and the data has been better than expected. that has brought a touch of come here but everybody certainly in the markets is extremely anxious because, as we ha

to a market recession, goldman sachs predicted that there's a one in 4 chance of the united states going directly into a recession in the next 4 months. and on top of that, we've seen a rise in unemployment. and the amount of new jobs created in july was not what was expected. now, many are also concerned that the federal reserve bank has not stepped in and adjusted interest rates and acted accordingly in order to stabilize the market. and all of that plays in to concerns that the best place to buy big tack on artificial intelligence may not pay off as they are intended. now it would be up to a new administration to handle the economy in light of continued drops and continued market turbulence. and that's why many are worried about complet harris. this clip of complet here is the democratic party nominee for president dressing. how is she would for, i guess, would not deal with the issue of inflation, has many steering how a harris administration might respond to continued inflation. well, let's start with this. prices have gone up and families and individuals are dealing with the realit

i want you to listen to what goldman sachs chief executive david solomon had to say about it, a.i. >>ld not debate whenever you have something new that's exciting, that stock market valuations can get ahead of themselves, you know, run ahead and then ultimately adjust. you and i can look at all sorts of things in our careers that we've seen that, a.i., expanding technology, gpus, increased capacity, used to this in business process this is not a bubble, it is a trend. we're in early stages v. how it affects business profitability. valuations go up and downs. i'm not smart enough to call tops and bottoms. stuart: okay, jeff, it is, a.i. is not a bubble. i think you disagree with that. you got 30 seconds. >> i do, stuart. goldman sachs had a report of june of this year where they talked about the big capital spending that's going into a.i. they're determining that it will be about a trillion dollars. i started buying nvidia in 2018 on your show talking about it. when you have to spend a trillion dollars, if you can't quantify that spend in earnings which right now we are only seeing a.i

problem, namely carbon intolerance, which ultimately benefits the oil companies, black rock and goldman sachs with their $100 billion wind energy and carbon capture projects, all of which depletes the middle class and it's..." the only issue you can talk about in the democratic party. i joined the environmental movement to protect habitats and preserve nature, to detoxify our. amen. and none of these issues are of concern to the party itself. the rank and file. the democrats care about them, but the party itself, no. there's a big, deep change going on, and not just on that issue. you know, it 's the dominance of this corrupt fusion. as it has for many years, clung to this illusion of democratic institutions that they're still democratic, considers itself, it sees itself, my friends, i was like that, so the democratic party , the democrats, see themselves as part of the good guys, the cowboys, you know, they're like the good guys at fort apache. married to hordes of barbarians who are about to storm the gates, they - the only defense, the only way to contain the barbarians is to elect a presi

the us labor market could be hit hard , according to goldman sachs economists. the possibility of losing up to a million jobs if the government revises its employment data, bloomberg writes. a downward revision could be the largest in us history in 15 years , which would be a wake-up call for the fed. the regulator may have to rethink its interest rate strategy. that was the economic news, in brief. at the rodina stadium in khimki as part of the final day of the igor akinfeev cup tournament took place. stars of cska and spartak. who of the legendary football players took part in the match, we will find out from the scene from our correspondent danil makhalin. he is on the line. danil, welcome, we are waiting for details from you. yes, i greet you from the rodina stadium in khimki, where the russian anthem just ended at this very moment, because the tournament itself, the igor akinfeev cup, is ongoing. that those legends who took part in the match a few minutes ago, they have already finished career. igor akinfeev is an active legend who still plays for moscow cska in the russian premier

i'm talking about goldman sachs and morgan stanley and cit i'm and jpmorgan. when you look at some of the profits there, liz it's absolutely incredible and the investment banking side you're talking about 50 perrer up to 150% when you look at goldman sachs. these are huge numbers that they've been able to put up. i don't think it's over the first half of the year, that's great. i think it's going to look even better in the second half of the year. i think when we talk about m&a and all of the different things, ipo's all of that that involves into the investment banking world that's an absolute home run. i'd also even add to that you can go into energy. you can go into energy and i'm not talking about oil. i'm actually talking about the demand for uranium is going to be absolutely off the charts. not necessarily in the next six months even, but over the next three, four, five years, when you consider all of the demand that you're going to be getting from those data centers from a.i. all of that. it is going to be in demand and you've got to have something very

liz: your small cap core equity the holdings in the goldman sachs' fund there up about 9% year to date, and we're looking at some of the big names in here. boot, which is boot barn. shake shack, i find that interesting because they have a pe of 141. >> well, if you look out for the next year, that comes down substantially because as you're starting to see the company start to kind of you into its earnings, they spent a little bit more in some new store opening, invested a little bit more many menu. they don't have to to -- liz: but you like that better than, say, a starbucks or or chipotle. >> we do. we think there's a lot more opportunity ahead than in the past. liz: gary, you were smart to sell your tech stocks around july 11th, i believe, which looked very close toss top or -- close to the top. what are you buying now? >> i'm always looking for the strongest growth names with the best relative strength, and this drop has enabled me to find a few names that are what i call sore thumbs. in the mega-cap names -- [laughter] meta is just much stronger than anything else right now, and if

goldman sachs estimates its probability at 25%, jp morgan even at 50% . one of the main reasons for the economic slowdown is the high fed rate, which has been at 5.25, 5.5% since july of 2023. monetary policy had to be tightened due to the acceleration of inflation. according to forecasts, the rate cut may begin in september. however, given the risk of recession , the decision may be made earlier. bloomberg estimates the probability that an emergency fed meeting will take place this week at 60%. the stock market decline, yes, in itself, of course, there, uh, is not a catalyst for any action with the nfrs, yes, i think that the efedreserve will continue to look at the inflation statistics, which , it must be said, are now falling quite actively, yes, the labor market is falling, the unemployment rate has grown to 4.3 in america, i think that they will act quite carefully. cautiously, perhaps some first steps to reduce the rate will really be taken. european markets also opened with a decline on monday, a fall in great britain. germany, france, spain. the i

we are facing a negative economic situation, so many big investment banks like goldman sachs have actually increased the probability of economic recession next year in the united states from 15% to 25%, all these factors actually. it has caused the weekly and even monthly and 3- month performance in egypt to be negative. in the third week of august, the weekly trading value of the energy exchange reached more than 5 thousand billion tomans. this figure included transactions registered in the domestic and international forums of the electricity market and transactions registered in the securities market. 70 tons in this period product worth more than 197. 70 billion tomans were sold in the international forum in the subgroup of oil, gas and other energy carriers. the value of sales transactions of 21,700 tons of products was recorded in the inner hall of more than 470 billion tomans. the electricity market of the energy exchange had prosperous transactions. the value of transactions in the green and physical electricity derivatives boards of the energy exchange was more than 560 billion tom

estimates of the largest american banks from minus 600 thousand to a million, which were expected at goldman sachsesult , 2,100,000 jobs were created during the mentioned period, and not 2,900, as the ministry of finance previously claimed. the department hastened to attribute an impressive mass of illegals to the workforce, but in fact it did not become one. experts do not rule out that closer to the us presidential elections this same mass will be recorded as an asset of the voting electorate. party. and at the end of the issue about currencies. the dollar today costs 91 rubles 68 kopecks. the euro exchange rate is 101.95. and here on that's all i have for now. roman. konstantin, thank you. i'll tell you briefly about some of the central topics of the hour. in the border areas of the kursk region, our fighters are pushing back ukrainian militants. the crew of the su-34 struck a nationalist's temporary deployment point. the enemy's lands are being hit with grads. and the defense services are delivering the fighters everything they need right to... this was stated by the head of the agency, rafael

reduced its forecasts for global oil demand growth this year to 2.11 million barrels per day, well, goldman sachs noted that the brand could fall to $68 per barrel in the absence of demand from china. as analysts explain, the decline in oil prices reduces the export revenues of russian oil companies, and then their shares fall. but there is another factor that affects the russian stock market. the key rate. in july, it was raised from 16 to 18%. this is certainly a very important factor, which essentially, well, takes away liquidity from stock market in favor of short-term products, so -called liquidity exchange-traded funds and simply deposits. of course, banks have been offering very high fixed rates for 3-4 months for the past few months, which also reduces the attractiveness of investments in riskier assets. everyone is waiting for some kind of signal, conditionally to reduce inflation and that the cycle of raising rates by the central bank has ended, this will probably also be a necessary factor there to restore interest in the russian stock market. in conditions of a high key rate, the stoc

gensler began his career at goldman sachs, where at the age of 30 he became one of the youngest partners gensler is known for tightening regulation of financial markets and, as analysts now say, companies from wall street. who are afraid of gensler, those who work with cryptocurrency. a year ago, he already said that this market - quote teeming with scammers and fraudsters. but beat yourself on the head? the main thing vanya, hurry up, what kindles interest, uh, uh, what started, and makes life brighter, in the lights you are me villains, sharpened, of course, flint, jean, ivan, ah, so we are coming out teski, soon! we entered the battle straight from the march. how the marines of the 810th brigade scattered the enemy on the kursk border and gave a light to nato equipment. another target of the armed forces of ukraine pensioners from sudzha. the seventy-five-year-old woman has already suffered three operations. the number of civilians killed by ukrainian fascists is in the tens. the russian defense ministry promises to avenge each one.

economy, we are also facing negative economic indicators , so that many of big investment banks like goldman sachs have actually come to the possibility of recession the economic growth of the next year in the united states has increased from 15 to 25 percent, and the sum of these factors actually caused the weekly and even monthly and 3-month performance in egypt to be negative. from increasing the capital to stopping some symbols and holding public and extraordinary meetings, as well as disclosing the important information of group a of some symbols in the kodal package on the news line. the meeting of the shepley symbol general assembly will be held on the 28th of august. symbols of saatma for the holding of the annual meeting of the second time of qadis for the holding of the extraordinary general meeting, which the heads of the meeting in order to elect members of the board of directors and steel for completion of subscription of unused preemptive rights was stopped at the end of august 20th transactions. license to increase the capital of valtjar, senir, alborz and amir, plast and fanfazar s

in goldman-sachs, its probability is estimated at 25% at jp morgan, even at 50.or the economic slowdown is called. the federal reserve rate, which has been at 5.25, 5.5% since july of twenty-three. monetary policy had to be tightened due to accelerating inflation. according to forecasts, the rate cut may begin in september. however, given the risk of recession , decisions may be made earlier. bloomberg estimates the probability that an emergency fed meeting will take place this week is 60%. the decline in the stock market, yes, in itself, of course, there, uh, is not a catalyst for any actions with the nfrs, yes, i think that the federal reserve will look further at inflation statistics, which i must say are quite active now is declining, yes, the labor market is declining, unemployment has risen to a level of 4.3 in america, i think that they will act quite carefully and prudently, perhaps there will indeed be some first steps towards rate reductions will be undertaken. european markets also opened lower on monday, with declines in the uk, germany, france, and s

you like goldman sachs for example.alyst, or care what banks are doing, if banks become a tech company. how banks are testing technology to be more efficient. do you see that with goldman sachs? >> yes, but we're looking probably at a period where we will have a lot of mergers and acquisitions or funding in terms of the fixed income side. these guys are pretty much one of the keys in terms of that industry. so we're looking at consolidation. we think we're going to have very large companies with scale or have boutiques. little by middle the will get edged away in a whole host of industries. these guys fund it and consolidate. taylor: cream of the crop in terms of financing a lot of m&a activity you see on the horizon. i want to ask you, the most frequently asked question you get from clients and i'm curious if it is there a recession? >> that's correct. we don't see it coming. taylor: really? >> we came out of a earnings season. first couple things, operating margins are at 13% for the industry. that is almost at a reco

when i started on wall street, people worked endless hours at goldman sachs and bear sterns and i lovednce of work life and you're not what you do, you're not who you are what your work is. you spend one-third of your life at work, part of it is you. >> here's the deal, as a young attorney we were expected to put in our hours and rose up through the ranks, not only did pay increase, hours sort of decreased. what i see as maybe the potential problem is people that graduate through their chapters of life and don't give up the working till 2:00 a.m.. work balance is important the older you get. we need it for health and family life balance. charles: it's like going on four hours of sleep is important. you need more than that. >> to me it's that longevity thing. that really play as part. charles: you're an employer, you have a lot of employees. what's -- how do you feel about this? >> well, i certainly don't p them working till 2:00 a.m. because they're not going to last long term. this obviously is a pay incentive for the employees to do this. charles: yeah. >> charles, there's gamers that

i'll be with goldman sachs. goldman sachs says it's closer to like 300,000 is what's been eliminated and maybe 500,000 of those jobs have been replaced by off the books workers. charles: so, before i let you go, we know there are going to be rate cuts. how many do you anticipate and just how much is of today like a couple of weeks ago the doj changing your mind and next day after everything went crazy. is a victory of the markets over the fed? >> you know, i think it's kind of half and half with the fed that they kind of heard the markets and they've also seen some weakening data without accepting whether or not it is because of population changes. i think they are going to cut rates in september. i think they will probably cut rates in november, which is as far as i'll go but i think what powell told us today is that payroll report two weeks from today is as important as the cpi, which will determine whether or not we see 25 or 50 in september to get the ball rolling. if it's weak we'll get 50. if it's not weak

up into a budweiser commercial, that's the trans-inflierns, this crazy stuff that goes down at goldman sachser s were arguing about whether it's racist to eat chick-fil-a because the head of chick-fil-a is a fundamentalist christian. it's funny but it's serious. i mean, this is a serious issue that is plaguing corporate america, and now we do see a backlash. you see consumers having a backlash against certain company as that went there. it's target, it's budweiser, it's disney, it's blackrock. and you see companies starting to move away from all their start of allegiance to wokeness. but it's still, it's still baked into the system, and and it's still having an impact. i mean, that's -- and you've got to read the book to -- neil: what's weird about that, charlie, and you brilliantly sort of lay it out there for us, is that even when facing some of these money-losing directives on racial, social, religious, hay still did it for fear of a backlash. now, some are trying to overcome that, but it's resulted in higher costs of a lot of what they do, and that's inflationary. to say whatever you are

solomon at goldman sachs said that this whole move may be healthier. i was chatting this morning, earnings and the second quarter of 12%. earnings are reasonable. i had jp morgan with me on real yield talking about back to back 50 basis point cut. if we get anywhere near a 100 basis point cut in 2024 and solid earnings, what does that do to the equity market exposure for you? carol: it is important to remember that whether or not you get the cut, the market is pricing in those cuts. when you look at where the tenure has gone, mortgage rates coming down, and an uptick in home equity loan applications, there is stuff in the economy moving whether or not the fed moves when he five or 50 basis points in september and beyond. -- 25 or 50 basis points in september and beyond. you have a pretty sturdy underneath the economy in general, and it has been pretty nice as we have seen earnings come in and you start parsing through individual companies, there is the attention to margins. you are seeing topline growth and also bottom line beats. the bottom-line beads

are we in a recession goldman sachs up this recession from 15% to 25%.hing that people just don't see. >> you had me on a few weeks ago he had two things, people don't realize including the federal reserve that the economy is slowing faster than expected and second when you asked me at that time what is my probability of a recession i said 35% i am still at 35% today is not the dominant scenario and if we are not careful it could become something worse but it's not 100% it is 35% a soft landing is 50% and 15% probability that bigger but not hotter assess the distribution look like that the consensus that are really complacent and put the probability very, very low in addressing golden reason from 1g young somethings as you pointed out is a done deal i don't think it is a done deal yet. liz: not a done deal, great to have you in the chair in your voice at a time like this where now the dow is down 1136 silva was the session 1237. what we decided to do is go commercial free were killing our breaks until the close. as you see the dow is lower in the s&p dow

well, goldman sachs noted that brand could fall to $68 per barrel in the absence of demand from china. as analysts explain, the decline in oil prices reduces the export income of russian oil companies, and then their shares go down. but there is another factor that affects the russian stock market. the key rate. in july, it was raised from 16 to 18%. this is certainly a very important factor, which essentially, well, takes liquidity from the stock market in favor of short-term products, uh, so-called uh, exchange-traded liquidity funds and just deposits, of course, banks have been offering very high fixed rates for 3-4 months for the past few months - it also reduces attractiveness - the us reserve will make it clear that it does not intend to soften the policy aggressively, as the market expects. to unite all russian federations of gymnastic sports into one organization, this is the proposal made today by the president of the federation of artistic gymnastics vasily tetov. according to him , this corresponds first of all to the generally accepted practice. details from alexander abra

the most pessimistic estimates of the largest american banks, from -600,000 to a million, which goldman-sachsxpected. as a result, for during the mentioned period, 2,100,000 jobs were created, and not 2,900, as the ministry of labor had previously claimed. the department was quick to attribute an impressive mass of illegals to the labor force, but in fact, it certainly did not become one. experts do not rule out that closer to the us presidential elections, this same mass will be recorded as an asset of the democratic party's voting electorate. at the end of the issue about currencies, the us dollar today costs 91 rubles 68 kopecks. the euro exchange rate is 101.95. and that's all i have for now. roman. konstantin, thank you. let's continue the issue. the state develops river transport. in russia and it remains in high demand, this was stated by the minister of transport roman starov in an interview with my colleague marina gromova. he noted that by the thirtieth year the river fleet plans to serve up to 19 million passengers. in addition, the amount of transported cargo will also be increase

gensler began his career at goldman sachs, where at the age of 30 he became one of the company's youngests known for tightening regulation of financial markets and... as analysts now say, wall street companies that are afraid of gensler may be joined by those who work with cryptocurrency. a year ago, he already said that this market is a quote, teeming with scammers and fraudsters. just an asterisk. such bells can indicate bad blood vessels. it is important to strengthen blood vessels. england normans. helps improve microcirculation, reduce the risk of blood clots, strengthen the walls of blood vessels: keep your blood vessels normal! are you attacked by credit card debts? i will show you a couple of tricks: we collect all credit card debts on one holva conveniently repay 24 months, and do not forget about purchases in installments! holva - simple techniques installments! there are many children's cards, the most profitable is one. free children's card alfabank, with it children receive up to 7,000 rubles. cashback for purchases and money in games. not childishly profitable, alpha is prof

goldman sachs increased the probability of a recession within a year from 15 to 25%, well, in jp morganm 25 to 35%. and that 's all i have for now, more news in the next hour. we watch to spend time with children. russian cartoons and children's programs, watch in the application or on the website. the volume of hotel construction in russia is growing, this year throughout the country 3,000 new rooms will appear. last year there were two times less, while more and more hotels are managed by large operators. alena lugvinova will tell you about how the industry is changing. this year, developers will build 3,000 rooms throughout russia, which is twice as much as the year before, but there is an interesting trend: more and more new hotels are managed by large chain operators. 2,000 rooms will go to kosmos hotel group, azimut hotels, montera group, zond hotel group, safmar hotels. this is over 70%. last year, the figure was at the level 44%. one of the hotels of the cosmos group opened in april in moscow. this is the fifth smart hotel in the portfolio. the company's seventh in the capital.

one goldman sachs economist is raising the chance of a recession in the next 12 months from 15% to 25%. experts say the average person does not need to panic. >> if you are a long term investor, take a deep breath. it is very scary, i get it, but if you're investing for decades in the future, stay still. you do nothing. try to maintain your game plan. >> now wall street wants to know the federal reserve's game plan. last week the fed left interest rates unchanged in an attempt to bring inflation down further. analysts expect a significant rate cut next month to help boost the economy. >>> still ahead, normally business owners don't like to invite more competition. why the owner of a small east bay bakery is welcoming plans for a new chick-fil-a despite backlash from neighbors. >> right now it become like a ghost town. it's not only me here. we need to survive. >>> firefighters down south are battling a brand-new brushfire that has already destroyed several homes in san bernardino. it is being called the edge hill fire. it broke out around 3:00 p.m. amid temps well north of 100 degrees.

goldman sachs cut them to a neutral and they are already down 42%. red robin they cut the full year. in terms of today there are some people who think that that could be the cell the news moment around powell's speech. one of the dividing stocks, the in between stocks is microsoft which has been down three days in a row and this reflects. fed chair jay powell is dovish, but that pushes the dollar down and the yen higher. if that yen carry trade were to unwind that could be painful for microsoft. sonali: a lot of risk under the surface. abigail doolittle, thank you and we look forward to your coverage. we will switch gears and talk about politics. vice president kamala harris formally accepting the democratic presidential nomination. we will go live to chicago next. this is bloomberg. ♪ when you automate sales tax with avalara, you don't have to worry about things like changing tax rates or filing returns. avalarahhh ahhh >> i promise to be a president for all americans. you can always trust me to put country above party and self. to hold sacred ameri

in goldman-sachs, its probability is estimated at 25%, in jp morgan, even at 50.s for the economic slowdown is the high fed rate, which has been at 5.25, 5.5% since july of the twenty-third year. monetary policy had to be tightened due to the acceleration of inflation. according to forecasts, the rate cut may begin in september. however, given the risk of recession. the decision may be made earlier, the probability that an emergency meeting of the fed will take place this week, bloomberg estimates at 60%. the decline in the stock market, yes , in itself, of course, is not a catalyst for any action with the nfrs, yes, i think that the idr will look then on to the inflation statistics, which it must be said that is now falling quite actively, yes the labor market is falling, has grown. to the level of 4.3 in america, i think that they will act quite carefully and prudently, perhaps some first steps to reduce the rate will really be taken. european markets also opened with a decline on monday, a fall in the uk, germany, france, spain. the istanbul stock exchange inde