This year’s surge in mergers and acquisitions has rewarded Goldman Sachs with a 150-percent gain in its second-quarter profits, lifting them to $3 billion.
Tag: Economy
TOP TREND 2023, OFFICE BUILDING BUST: COMMERCIAL REAL ESTATE BUST UNDERMINING BOND DEALS
Thanks to the tumbling values of commercial properties, defaults are on the rise in a sector of the debt market known as single-asset, single-borrower bonds (SASBs).
TOP TREND 2024: EV GO FU
After five years of mapping a road to an all-electric future, designing electric vehicles (EVs) and retooling factories to make them, and investing billions of dollars along the way, U.S. car companies are hitting the brakes.
SPOTLIGHT: CHINA’S ECONOMIC STRUGGLE
The Chinese Communist Party published a list of 60 policy goals after its meeting last week. The goals were broad, such as improving the business environment and focusing on cutting-edge industries, but included no details of how the goals would be met.
SPOTLIGHT: BIGS GETTING BIGGER
JPMorgan Chase’s investment banking fees rocketed up 50 percent in this year’s second quarter compared to the same period last year, the bank said.
TOP TREND 2023: SELF-SUFFICIENT ECONOMY
China’s car companies are squeezing out Western competitors faster than expected.
TOP TREND 2024: EV GO FU
An abrupt slowdown in electric vehicle (EV) sales cut battery giant LG Energy’s profit by 58 percent, year on year, in this year’s second quarter, the company reported last week.
TOP TREND 2024: BANKS GO BUST
The biggest U.S. banks are reporting their second-quarter earnings and investors and analysts are watching to see how the megabanks have weathered high interest rates and the continuing slide in the value of commercial real estate loans.
SPOTLIGHT: BIGS GETTING BIGGER
Megamergers are back in vogue, climbing by 22 percent and booking $1.5 trillion in new deals in this year’s first six months, the London Stock Exchange Group reported, as the number of takeovers in the U.S. surged.
SPOTLIGHT: CHINA’S ECONOMIC MALAISE
China’s manufacturing sector weakened further in June, with the National Bureau of Statistics’ purchasing managers index (PMI) remaining flat from May at 49.5, equaling analysts’ forecasts in a Reuters poll.