This Week’s Big Bank Earnings Give Clues About the Economy

Sometimes a cigar is just a cigar, according to Freud. But bank earnings announcements are always about more than their stocks alone. That’s why Wall Street anxiously watched Citigroup’s earnings report Monday morning. Even though profits and revenue beat estimates, shares were down about 0.4% as of midday. Bank stocks are considered bellweathers, and parsing […]

What Big Banks Say About Being ‘Screwed’ By Technological Change — Data Sheet

Adam Dell, the head of product for the Goldman Sachs consumer bank Marcus, delivered a zinger to the Brainstorm Finance audience in Montauk, N.Y., Thursday afternoon. “There are only two kinds of banks,” he said. “There are banks that are screwed. And banks that don’t know they are screwed.” Dell can be smug because his […]

Apple Card Still Dropping This Summer, Says Goldman Sachs’ Consumer Chief

The Apple Card–Apple’s hotly anticipated credit card collaboration with Goldman Sachs–is due to debut this summer. But, as Fortune‘s Adam Lashinsky pointed out to Goldman Sachs’ Harit Talwar on stage at the Brainstorm Finance conference in Montauk, N.Y., today, “It is the summer.” Don’t read too much into the fact that we’ve yet to see […]

In Silicon Valley, It (Still) Ain’t Easy Being Green

This article first appeared in Data Sheet, Fortune’s daily newsletter on the top tech news. To get it delivered daily to your in-box, sign up here. Tuesday’s New York Times featured a dire assessment of Silicon Valley’s reluctance to fund startups fighting climate change. The report lauds the efforts of investors like Nest co-founder Matt […]

Data Sheet—In Silicon Valley, It (Still) Ain’t Easy Being Green

Tuesday’s New York Times featured a dire assessment of Silicon Valley’s reluctance to fund startups fighting climate change. The report lauds the efforts of investors like Nest co-founder Matt Rogers, who has socked millions into ventures seeking to remove carbon dioxide from the atmosphere–even as it laments the dearth of Valley high-rollers willing to do […]

5 Things You Need to Know About Apple’s New Credit Card

Hoping to move more even deeply into the financial lives of its customers, Apple on Monday unveiled its own iPhone-oriented credit card, called the “Apple Card.” The card, created in partnership with Goldman Sachs and Mastercard, comes with some features that set it apart from traditional credit cards like a lack of a visible credit […]

Investing in China: All Bets Are Off

Last August, in my first post for Adam’s Data Sheet newsletter, I warned that Chinese tech companies might be headed for a “capital winter.” Alas, that dire prediction appears to be coming true. The Economist, citing research by CB Insights, noted last week that, in the last three months of 2018, deals to commit venture […]

Global Economy May Have Already Bottomed Out, Says Goldman Sachs

The global economy may have already bottomed out, according to Goldman Sachs Group Inc. Chief Economist Jan Hatzius. While growth remains soft, Goldman’s current activity indicator in February is slightly above the downwardly-revised December and January numbers. “Some green shoots are emerging that suggest that sequential growth will pick up from here,” Hatzius and Sven […]

J.P. Morgan Moves Investment Bankers Into Open Office Spaces

J.P. Morgan Chase is breaking barriers–literally. The bank is tearing down walls in many of its investment banking offices and instituting shared desks, an approach that has been popular in the tech industry for years, according to Reuters. Walls came tumbling down for J.P. Morgan’s investment bankers in San Francisco and are in the process […]

Apple and Goldman Sachs Are Developing a Credit Card With Special iPhone Features

Apple is getting into the banking business, according to a new report. The iPhone maker has teamed up with Goldman Sachs and together, the companies will release a joint credit card to consumers later this year, The Wall Street Journal is reporting, citing sources. The credit card will ostensibly be used like any other plastic, […]