Goldman Sachs to exit Russia, first major Wall Street bank to quit

'Goldman Sachs is winding down its business in Russia in compliance with regulatory and licensing requirements,' the bank says. RussiaUkraineCrisis

“Goldman Sachs is winding down its business in Russia in compliance with regulatory and licensing requirements,” the bank said in an emailed statement.

A source familiar with the situation said Goldman would wind down the operations rather than exit them immediately. The loss due to the exit would be immaterial, the source said.Bank for International Settlements data shows that

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

rapplerdotcom /  🏆 4. in PH

United Kingdom Latest News, United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

China eyeing Indo-Pacific as Russia attacks Ukraine — Australian official - BusinessWorld OnlineSYDNEY — A “troubling new strategic convergence” between Beijing and Moscow has developed and the risk of “major power conflict” had grown since Russia invaded Ukraine, Australia’s intelligence chief said on Wednesday.
Read more »

Asia stocks track US, European surge, oil extends lossesHONG KONG: Asian equities rallied Thursday following a strong bounce on Wall Street and a breathtaking surge in Europe sparked by a plunge in oil prices and bargain-buying...
Read more »

BSP seen to raise rates before midyear - BusinessWorld Online“Inflation is very volatile in the Philippines. I’m expecting a spike over the coming months to anywhere between 5.5% and 6%. That’s doubling the current inflation at 3%,” CLSA Senior Economist Anthony Nafte said. READ:
Read more »

Turkey hosts top Russia, Ukraine diplomats in bid for peaceThe Russian and Ukrainian foreign ministers will Thursday hold face-to-face talks in southern Turkey in the first high-level contact between Kyiv and Moscow since Russia invaded its neighbor two weeks ago.
Read more »

Russia, Ukraine fail to make progress at 'difficult' Turkey talksANTALYA: Russia and Ukraine on Thursday failed to find a breakthrough on a ceasefire and other humanitarian issues at the first high-level talks between the two sides since...
Read more »

McDonald's, icon of post-Soviet era, to close all restaurants in RussiaThe temporary closure of the McDonald's restaurants will carry symbolic importance in Russia, where the first location to open became a symbol of flourishing American capitalism as the Soviet Union fell. RussiaUkraineCrisis
Read more »