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Goldman Sachs exec on coming out
  + stars: | 2024-06-05 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGoldman Sachs exec on coming outGoldman Sachs Engineering for Global Banking & Markets COO Liz Martin reflects on feeling safe and supported coming out at Goldman Sachs.
Persons: Goldman Sachs, Liz Martin Organizations: Goldman, Goldman Sachs Engineering, Global Banking
Some people look forward to their lunch break or 3 p.m. coffee at the office — but Liz Martin eagerly awaits her afternoon pickleball match against her co-workers. Martin, 28, works at Room & Board, a Minneapolis-based furniture retailer with an indoor pickleball court on the first floor of its office building. "I never thought I'd be into pickleball, but now, it's one of my favorite parts of the day," says Martin, who started playing pickleball a year ago. Room & Board installed the court in 2013 to complement its in-house gym. Soon after Room & Board began calling employees back to the office in the fall of 2021, Manley's inbox was flooded with requests for pickleball lessons, matches and partners.
Persons: Liz Martin, Martin, I'd, pickleball, Nancy Manley, Manley's Organizations: Board Locations: Minneapolis
Lenders signalled that loan spreads - the additional interest that banks charge to borrowers over and above the market rate - were likely to narrow in the second quarter. The BoE said lenders plan to restrict the supply of secured lending to households in the second quarter, with mortgage approvals data already showing signs of a sharp slowdown. While that may weaken housing market activity in the months ahead, the survey showed lenders expect to increase the supply of consumer credit and maintain existing levels of corporate lending in the coming months. The quarterly Credit Conditions Survey also showed rising default rates across mortgages, consumer credit and corporate loans during the first quarter. Lenders expected them to rise further in the second quarter.
Financial markets currently price in a 78% chance that the BoE will raise rates by half a percentage point to 3.5% on Dec. 15, and a 22% chance of a rise to 3.75%. "The BoE has made it pretty clear that inflation is too high. With a range of views on the MPC about how near BoE rates are to a peak, a first-ever four-way vote split was possible, she added. Last month, seven MPC members voted to raise rates to 3%, but Silvana Tenreyro voted for a quarter-point rise to 2.5% and Swati Dhingra for 2.75%. Financial markets currently see BoE rates peaking at 4.75% by the middle of next year, while HSBC expects the BoE to stop at 3.75% in February and Investec predicts a peak of 4%.
Markets were expecting Bank Rate to peak at around 4.7%, little changed by the BoE's announcement. [1/2] A general view of the Bank of England (BoE) building, the BoE confirmed to raise interest rates to 1.75%, in London, Britain, August 4, 2022. The BoE has faced weeks of political and financial market chaos since its last rate rise on Sept. 22. Markets are now more stable, with British government borrowing costs broadly back to where they were before the turmoil. Under the BoE's forecasts, inflation is due to fall below its 2% target by mid-2024, even if interest rates stay at 3%.
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