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May 8 (Reuters) - Goldman Sachs Group Inc (GS.N) agreed to pay $215 million to settle a class action alleging widespread bias against women in pay and promotions, ending one of the highest-profile lawsuits claiming unequal treatment of women on Wall Street. In a well-known 1990s case, Smith Barney settled charges that men harassed women in a space known as the "Boom-Boom Room." "This settlement will help the women I had in mind when I filed the case," Orlich said in a statement. The settlement also calls for Goldman to hire independent experts to analyze its gender pay gaps and performance evaluation processes. In 2020, the bank said it aimed for 40% of vice presidents to be women within five years.

☆ Goldman to pay $215 mln to settle gender discrimination lawsuit - Bloomberg News
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +1 min

May 8 (Reuters) - Goldman Sachs Group Inc (GS.N) has agreed to pay $215 million to settle a long-running class-action lawsuit that accused the investment bank of widespread bias against women in both pay and promotions, Bloomberg News reported on Monday citing a person familiar with the matter. Last week, Reuters reported that the talks were ongoing to settle roughly a month before the trial was set to begin. The plaintiffs alleged the bank systematically paid women less than men and gave women weaker performance reviews that impeded their career growth. They are led by Cristina Chen-Oster, Mary De Luis and Allison Gamba, who were Goldman vice presidents, and Shanna Orlich, who was an associate. The lawsuit is among the highest-profile cases targeting Wall Street's alleged unequal treatment of women, including in litigation against many banks that stretches back decades.

☆ Australia business activity robust in April, cost pressures still a challenge
▼ + stars: | 2023-05-08 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, May 8 (Reuters) - Australian business conditions remained sturdy in April, supported by robust sales and labour market strength despite high inflation and rising interest rates, while cost pressures were still posing a challenge for firms. The survey from National Australia Bank Ltd (NAB) (NAB.AX) released on Monday showed its index of business conditions fell two points to +14 in April, but stayed well above its long-run average. The volatile measure of confidence edged up to 0, compared with March's -1, suggesting that an equal share of firms were optimistic as pessimistic. The still strong business activity showed why the Reserve Bank of Australia stunned markets last week by lifting rates to an 11-year high of 3.85%, when traders had looked for an extended pause, and warned that more tightening might be needed. Cost growth remained a challenge, with the measure of labour costs steadying at a quarterly rate of 1.9% and purchase costs picking up to 2.3%, compared with 1.9% in March.

☆ Goldman Sachs in talks to settle gender discrimination lawsuit -source
▼ + stars: | 2023-05-03 | by ( Reuters Staff | ) www.reuters.com time to read: +1 min

FILE PHOTO: The logo for Goldman Sachs is seen on the trading floor at the New York Stock Exchange (NYSE) in New York City, New York, U.S., November 17, 2021. REUTERS/Andrew KellyNEW YORK (Reuters) - Goldman Sachs Group Inc is in talks to settle a class-action lawsuit that alleged widespread gender bias against women in pay and promotions, said a source familiar with the matter. The plaintiffs, former employees of the Wall Street bank, accused Goldman Sachs of systematically paying women less than men, and giving women weaker performance reviews that impeded their career growth. Goldman has previously denied wrongdoing.The lawyers for Goldman Sachs, Sullivan & Cromwell, did not immediately respond to a request for comment. The Wall Street Journal reported earlier on the talks.

☆ National Australia Bank lowers peak rate call for Australia to 3.85%, from 4.1%
▼ + stars: | 2023-03-30 | by ( Stella Qiu | ) www.reuters.com time to read: 1 min

SYDNEY, March 30 (Reuters) - National Australia Bank said on Thursday it expects Australian interest rates to peak at 3.85%, down from a previous estimate of 4.1%. NAB added it still expects the Reserve Bank of Australia to raise its official cash rate by 25 basis points in April for a final time, beginning rate cuts in the first half of 2024. "We continue to see rate cuts in H1 2024 bringing the cash rate back to 3.1% as the economy slows and unemployment rises," the bank's chief economist Alan Oster said in a statement. Fellow Australian bank Westpac also cut its peak rate forecast to 3.85% earlier this month. Reporting by Stella Qiu in Sydney Editing by Alasdair PalOur Standards: The Thomson Reuters Trust Principles.

☆ Australia business activity strong in Feb, even as confidence wanes
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, March 14 (Reuters) - Australian business conditions remained resilient in February with sales and employment strong, even as confidence took a turn for the worse amid high inflation and rising interest rates. The survey from National Australia Bank Ltd (NAB) (NAB.AX) released on Tuesday showed its index of business conditions dipped one point to +17 in January, still well above its long-run average. The survey was conducted from Feb. 20 to 28, so it missed the recent chaos in financial markets after Silicon Valley Bank's collapse. Conditions were generally upbeat with the survey's measure of sales at a very high +27 in February, supported by historically low unemployment and rapid population growth. The survey's measure of labour costs ticked up to a quarterly rate of 2.8%, but retail price growth eased to 1.9%.

WILMINGTON, Del, Nov 11 (Reuters) - Elon Musk has taken on Detroit's automakers, short-sellers and securities regulators. Next week, the Tesla (TSLA.O) chief executive is set to square off in court against an unlikely foe - a thrash metal drummer who hopes to strip Musk of his $56 billion pay. Tornetta sued Musk and the Tesla board on behalf of the company in what is known as a shareholder derivative lawsuit. The pay package was widely criticized and California's teachers retirement system known as CalSTRS was among the investors who voted against it. The disputed pay package allows Musk to buy 1% of Tesla's stock at a deep discount each time escalating performance and financial targets are met; otherwise Musk gets nothing.

☆ Now They Want a Pandemic ‘Amnesty’
▼ + stars: | 2022-11-02 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

Believe it or not, American Federation of Teachers chief Randi Weingarten on Monday tacitly acknowledged that keeping schools closed during the pandemic was a mistake. Miracles happen, apparently. But she also now wants parents—especially if they’re voters next week—to forgive her and her political allies without seeking an apology or holding them accountable. Sorry, that lets them off way too easy. “I agree,” Ms. Weingarten tweeted a link to a piece in The Atlantic by Emily Oster , “Let’s Declare a Pandemic Amnesty.” The article argues that Americans should forgive experts and government leaders for their mistakes during the pandemic.

This morning Amazon kicked off its second Amazon Prime Day of 2022, which it's calling the Prime Early Access Sale. Right now, our picks for the best overall, the Philips Premium Digital Air Fryer, and the best multi-tasking air fryer, the Instant Pot Duo Crisp are on sale. Deal T-Fal Easy Fry XXL Air Fryer and Grill At 50% off, this T-fal air fryer is the biggest air fryer deal we've seen so far for Amazon Early Access Sale. Deal Oster Air Fryer Oven The Oster Air Fryer is 21% for Amazon's Early Access Sale, saving you $40. Amazon Prime Day FAQsWhat is Amazon Prime Day?

☆ Goldman Sachs: Newly-unredacted document alleges dozens of incidents of ‘sexual assault and harassment’ at firm, lawsuit says
▼ + stars: | 2022-09-24 | by ( Laura Ly | ) edition.cnn.com time to read: +3 min

CNN —A newly-unredacted document alleging an “uncorrected culture of sexual assault and harassment” at investment bank Goldman Sachs states that at least 75 incidents of alleged sexual assault and harassment were reported between 2000 and 2011. The document is part of an ongoing gender discrimination lawsuit against the investment bank that dates back to 2010. Richard Perry/The New York Times/ReduxThe lawsuit, originally filed on behalf of former Goldman Sachs employees Cristina Chen-Oster, Allison Gamba, Shanna Orlich, and Mary de Luis, became a class-action lawsuit in 2018. Goldman Sachs said in a statement Friday that the allegations do not “reflect reality” and that many of the claims are “two decades old and have been presented selectively, inaccurately and are incomplete. ““Discrimination, harassment and mistreatment in any form are unacceptable at Goldman Sachs, and when identified, swift action, including termination, is taken.

☆ Goldman Sachs: Newly-unredacted document alleges dozens of incidents of "sexual assault and harassment" at firm, lawsuit says
▼ + stars: | 2022-09-24 | by ( Laura Ly | ) edition.cnn.com time to read: +1 min

(CNN) A newly-unredacted document alleging an "uncorrected culture of sexual assault and harassment" at investment bank Goldman Sachs states that at least 75 incidents of alleged sexual assault and harassment were reported between 2000 and 2011. The document is part of an ongoing gender discrimination lawsuit against the investment bank that dates back to 2010. The lawsuit, originally filed on behalf of former Goldman Sachs employees Cristina Chen-Oster, Allison Gamba, Shanna Orlich, and Mary de Luis, became a class-action lawsuit in 2018. It now represents over 1,400 current and former female associates and vice-presidents at Goldman Sachs who say they encountered discrimination over pay, promotion, and reviews, according to a press release. At the time, a spokesman for Goldman Sachs called it a "a normal procedural step for any proposed class action lawsuit" that "does not change the case's lack of merit."

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