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☆ Goldman Sachs Asset Management closes $5.2 billion growth equity fund
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +1 min

NEW YORK, Feb 7 (Reuters) - Goldman Sachs Asset Management said Tuesday it had closed a $5.2 billion direct private markets fund that invests in high-growth businesses. The West Street Global Growth Partners fund attracted $3.7 billion from institutional and high net worth investors, as well as commitments from Goldman Sachs Group Inc (GS.N) and its employees. Goldman Sachs Asset Management oversees more than $2 trillion in assets. Last year it closed a $9.7 billion private-equity fund, its largest since 2007, that seeks to invest in companies with an enterprise value of about $750 million to $2 billion. The latest fund is managed by its growth equity business division led by Darren Cohen in New York, Nishi Somaiya in London and Stephanie Hui in Hong Kong.

☆ North Carolina Republicans reap reward of judicial wins in redistricting ruling
▼ + stars: | 2023-02-07 | by ( Joseph Ax | ) www.reuters.com time to read: +5 min

'RAW PARTISANSHIP'In North Carolina, Republican candidates in November won two seats held by Democrats, wresting away the majority. The office of the Republican state Senate leader, Phil Berger, did not respond to a request for comment on the ruling on Monday. That decision led North Carolina Republican lawmakers to appeal to the U.S. Supreme Court in what has become one of the year's most momentous cases. The North Carolina Supreme Court – whose previous decision gave rise to the U.S. Supreme Court case – could now choose to embrace the notion regardless of what the U.S. Supreme Court eventually rules. "We either get Moore v. Harper and it's the Wild West everywhere, or we get a Republican state Supreme Court to overturn it and it's just the Wild West in North Carolina," Hildebrand said.

☆ The Western-made tanks heading to Ukraine are unique — but that creates unique problems for Ukraine's military
▼ + stars: | 2023-02-02 | by ( Michael Peck | ) www.businessinsider.com time to read: +6 min

While most modern tanks run on diesel, the Abrams uses a Honeywell 1,500-horsepower gas-turbine engine that functions best when burning JP-8 jet fuel. Challenger tanks were credited with destroying 300 Iraqi tanks. When Turkish Leopard 2s battled ISIS fighters in Syria in 2016, the results were less than impressive. Leopard manufacturer Rheinmetall has 22 Leopard 2s and 88 older Leopard 1s in its inventory, but those can't be made battle-ready until at least 2024. What matters is how many Ukraine will receive — 31 Abrams and 14 Challenger 2s are not a lot — and how Ukraine's military uses them.

☆ An author who made $1.3 million in a year self-publishing books on Amazon shares his 6 best tips for making money as a writer
▼ + stars: | 2023-02-02 | by ( Ella Hopkins | ) www.businessinsider.com time to read: +6 min

Dawson shared his tips for authors to get their books in front of readers and make a living. Hire a professional designer to produce your book cover. Writing a 10,000-word novel is a different skill compared to writing a 150-word blurb, Dawson said. By the time the reader is on the first page of an e-book, you've already persuaded them to give you a chance as an author, Dawson said. Once your cover, blurb, and story are ready, you might think advertising is the next logical step.

☆ Britain’s Boris Johnson says Putin threatened him with missile strike
▼ + stars: | 2023-01-30 | by ( ) www.nbcnews.com time to read: +1 min

“He threatened me at one point, and he said, 'Boris, I don’t want to hurt you but, with a missile, it would only take a minute’ or something like that. Jolly,” Johnson said, recalling the “very long” and “most extraordinary” call in February 2022 which followed a visit by the then prime minister to Kyiv. Johnson, who stepped down in September in the wake of a series of scandals, sought to position London as Kyiv’s top ally in the West. While in office he visited Kyiv several times and called Ukraine’s President Volodymyr Zelenskyy frequently. He also visited again this month.

☆ Britain's Boris Johnson says Putin threatened him with missile strike
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +1 min

LONDON, Jan 30 (Reuters) - Former British Prime Minister Boris Johnson has said Russian President Vladimir Putin threatened him with a missile strike during a phone call in the run up to the invasion of Ukraine. "He threatened me at one point, and he said, 'Boris, I don't want to hurt you but, with a missile, it would only take a minute' or something like that. Jolly," Johnson said, recalling the "very long" and "most extraordinary" call in February 2022 which followed a visit by the then prime minister to Kyiv. Johnson, who stepped down in September in the wake of a series of scandals, sought to position London as Kyiv's top ally in the West. While in office he visited Kyiv several times and called Ukraine's President Volodymyr Zelenskiy frequently.

☆ Boris Johnson says Putin threatened him with a missile strike in an 'extraordinary' phone call weeks before Russia's invasion of Ukraine
▼ + stars: | 2023-01-30 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +3 min

Boris Johnson said Putin threatened the UK with a missile strike before it invaded Ukraine. He said Putin told him: "I don't want to hurt you but, with a missile, it would only take a minute." He added that he told Putin that war would be a "utter catastrophe" and that Russia's apparent fear that Ukraine would join the NATO military alliance would not come true "for the foreseeable future." He also told Putin that invading Ukraine would result in sanctions from the West and more NATO troops stationed along Russia's borders, according to his recollection. Johnson was seen as one of Ukraine's biggest allies following the Russian invasion, and has made multiple trips to the country, both during his time as prime minister and after.

☆ Exclusive: Goldman Sachs to cut asset management investments that weighed on earnings
▼ + stars: | 2023-01-23 | by ( Saeed Azhar | ) www.reuters.com time to read: +4 min

NEW YORK, Jan 23 (Reuters) - Goldman Sachs Group Inc's (GS.N) asset management arm will significantly reduce the $59 billion of alternative investments that weighed on the bank's earnings, an executive told Reuters. "It's not going to zero because we will continue to invest in and alongside funds, as opposed to individual deals on the balance sheet." The positions included $15 billion in equity investments, $19 billion in loans and $12 billion in debt securities, alongside other investments. If the environment improves for asset sales, Salisbury said he expected to see "a faster decline in the legacy balance sheet investments." Goldman Sachs' asset management arm closed a $15.2 billion fund earlier this month to make junior debt investments in private equity-backed businesses.

☆ Goldman Sachs to cut asset management investments that weighed on earnings
▼ + stars: | 2023-01-23 | by ( ) www.cnbc.com time to read: +4 min

Goldman Sachs Group Inc's asset management arm will significantly reduce the $59 billion of alternative investments that weighed on the bank's earnings, an executive told Reuters. "It's not going to zero because we will continue to invest in and alongside funds, as opposed to individual deals on the balance sheet." The positions included $15 billion in equity investments, $19 billion in loans and $12 billion in debt securities, alongside other investments. If the environment improves for asset sales, Salisbury said he expected to see "a faster decline in the legacy balance sheet investments." Goldman Sachs' asset management arm closed a $15.2 billion fund earlier this month to make junior debt investments in private equity-backed businesses.

☆ Why wealth management is Goldman Sachs' new 'crown jewel' with dealmaking at a standstill
▼ + stars: | 2023-01-18 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +5 min

CEO David Solomon acknowledged that a stronger wealth and asset management business would have helped the bank weather the storm. One of Solomon's three key priorities for Goldman Sachs is growing management fees in the asset and wealth management arm. Solomon touted the potential for its workplace wealth offering Ayco in October, but private wealth management is another opportunity. Of 43 job postings in asset and wealth management based in the US, 15 are within the private wealth unit. The wealth management business also boosts Goldman's other services, as the bank's co-head of asset management Julian Salisbury said in September.

☆ U.S. House passes bill banning exports of reserve oil to China
▼ + stars: | 2023-01-12 | by ( Timothy Gardner | ) www.reuters.com time to read: +2 min

Companies U.S. House of Representatives FollowWASHINGTON, Jan 12 (Reuters) - The U.S. House of Representatives overwhelmingly passed a bill on Thursday to ban releases of oil from the U.S. Strategic Petroleum Reserve from being exported to China, though the measure faces an uncertain future in the Senate. The bill passed 331-97 in the House, which Republicans took narrow control of this month. Through October last year U.S. oil companies exported nearly 67 million barrels of oil to China. But in all of 2020, when Republican Donald Trump was president, the United States exported 176 million barrels to China. U.S. House lawmakers also voted overwhelming this week to create a select committee on China to counter Beijing's growing international influence.

☆ Save, don't spend, warns Intuit's CEO, as he notices 'good behavior' around money habits eroding
▼ + stars: | 2023-01-10 | by ( Jason Lalljee | ) www.businessinsider.com time to read: +4 min

That's partially due to inflation woes, but spending on travel and recreation still remains high. That's largely due to an unprecedented boon in cash from stimulus checks and other pandemic aid along with reduced spending amid the pandemic. Inflation has been eating into Americans' wallets for the last two years, but it's not the only reason savings are falling. Spending has remained strong overall, especially for in-person services that were especially constrained during the worst of the pandemic, said Goodarzi. Credit bureau Experian defines a score of 580 to 669 as "fair," and most Americans fall somewhere between 600 and 750.

☆ Analysis: Chaos in Congress sends an ominous signal to Wall Street
▼ + stars: | 2023-01-04 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

New York CNN —Many on Wall Street cheered last fall when the midterm elections ushered in a return of divided government in Washington. But the historic dysfunction playing out in Congress this week is a reminder that you should be careful what you wish for. Buckle up for debt ceiling brinksmanshipBut lawmakers did not agree to tackle the debt ceiling, the borrowing limit that must be raised to avoid a calamitous US debt default. In the past, brinksmanship over the debt ceiling eventually gave way to a compromise, though often not until significant pressure was applied by business leaders, financial markets — or both. Andrew Frankel, co-president of Stuart Frankel, dismissed the House speaker race as a “big, fat nothing-burger” for the market and said it was “just noise.”“It’s all about the Fed,” Frankel said.

☆ 71 top VCs landed on Insider's 2022 list of investors to watch. Here's what they're looking for in startups to back in 2023
▼ + stars: | 2022-12-27 | by ( Madeline Renbarger | Stephanie Palazzolo | Darius Rafieyan | ) www.businessinsider.com time to read: +2 min

Despite a tumultuous market for startup investing, VCs still landed top deals at hot startups. Behind these successes were the smart and savvy rising-star VCs working to transform the industry. Here are some of the rising stars of venture capital who are names to watch in 2023. Insider asked the VCs we named in last year's rising-stars list and the general public to nominate this year's most promising venture investors. For instance, OMERS Ventures' Chrissy Farr made the jump to healthtech investing after working as a journalist covering the venture industry for CNBC.

☆ Inside the lives of some of the most powerful people on Wall Street
▼ + stars: | 2022-12-27 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

We're highlighting profiles we've done of some of the most powerful people on Wall Street. They are, as you will see, largely white males — a telling reminder of who still wields the power throughout most of Wall Street. Gregg Lemkau was considered a future CEO candidate at Goldman Sachs before he shocked Wall Street by leaving for Michael Dell's investment firm in 2020. Soft-spoken types can sometimes get bulldozed on Wall Street, where so-called alphas often reign supreme. Inside his strategy for turning Goldman into the Amazon of Wall Street.

☆ Goldman insiders are up in arms over David Solomon's plan to slash bonuses. They fear widescale departures and point to the CEO's failed foray into consumer banking.
▼ + stars: | 2022-12-22 | by ( Dakin Campbell | Emmalyse Brownstein | ) www.businessinsider.com time to read: +11 min

Some are pointing the finger at CEO David Solomon and his spending on the consumer banking business. "Out of control" spendingGoldman insiders are also still fuming over spending on Goldman's consumer business, and there are fears this resentment could escalate with next month's earnings. The consumer bank includes Marcus, a digital banking platform that offers high-yield savings accounts, and the Apple credit card. It was key to Solomon's plan to diversify the company away from its core investment banking business. Goldman pulled back on its consumer banking ambitions earlier this year amid questions about how much cash was being burned on the strategy, led by Stephanie Cohen.

☆ 11 ancient sites that are mysteriously aligned with the sun on the winter solstice, in photos.
▼ + stars: | 2022-12-17 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +12 min

Archaeologists have found many ancient sites that line up with the winter solstice sun. Here are 11 sites that line up with the winter solstice, and what experts think about them. Newgrange, County Meath, IrelandPeople celebrating the sunrise at Newgrange on the morning of the winter solstice in 2018. ShutterstockOne of the most famous examples of ancient architecture lining up with the winter solstice is in Machu Picchu, Peru. "From the winter solstice the days are longer, which was a metaphor of the rebirth of the deceased," he said.

☆ Home flipping profits drop at the fastest pace in over a decade
▼ + stars: | 2022-12-15 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +3 min

It represents the smallest profit since the end of 2019 and the fastest quarterly drop since 2009. With that drop in gross profits, the return on investment fell to 25% from 30% in the previous quarter. With profits shrinking and higher mortgage rates hurting affordability for potential buyers, the share of home sales that were flips fell as well. Mortgage rates have come off their recent highs, but they are still more than twice what they were at the start of this year. Markets that showed the highest flip rates were Phoenix; Spartanburg, South Carolina; Atlanta and Gainesville in Georgia; and Winston-Salem, North Carolina.

☆ I made more than $1.3 million last year from self-publishing books on Amazon. Here's how I promote them and keep most of the profits.
▼ + stars: | 2022-12-14 | by ( Ella Hopkins | ) www.businessinsider.com time to read: +7 min

Mark Dawson started publishing on Kindle Direct Publishing after his first books didn't sell well. This as-told-to essay is based on a conversation with Mark Dawson, 49, an author from Salisbury, England, about publishing via Kindle Direct Publishing. My first two books didn't sell. I had started writing another book in 2010. I quit my job in November 2014 and started writing books full time.

Click “VOTE” to choose your favorite Metropolitan Diary entry of 2022. Click “VOTE” to choose your favorite Metropolitan Diary entry of 2022. At Attention Dear Diary: It was December 1967. – Stephen SalisburyExtra Ticket Dear Diary: It was April 1992, and I had two tickets for the Chicago Symphony Orchestra at Carnegie Hall with Daniel Barenboim conducting. – Garrett AndrewsRock-Paper-Scissors Dear Diary: It is 2 a.m.

☆ How to Spend Your FSA
▼ + stars: | 2022-11-30 | by ( ) www.wsj.com time to read: +4 min

Read on to find out more about how your FSA works and your best options to spend down your balance. Acupressure mat and pillowKanjo Acupressure Mat and Pillow Set $80 at AmazonYou might not have realized that an acupressure mat is FSA eligible. SunscreenEltaMD UV Clear SPF 46 Face Sunscreen $37 at AmazonThere’s a wide variety of sunscreen available on Amazon that’s FSA eligible. Why this December is differentThis year’s December FSA spending crunch could be worse than usual. Fortunately, while you must spend your FSA on medical costs, the options are a lot wider than just doctors visits and prescription meds.

☆ Christmas lights around the world
▼ + stars: | 2022-11-29 | by ( Anuja Jaiman | ) www.reuters.com time to read: 1 min

Congregation members look on as choristers and clergy take part in a candlelit service and procession "From Darkness to Light" to mark the beginning of Advent, at Salisbury Cathedral in Salisbury, Britain, November 25, 2022. REUTERS/Toby Melville

Medellin, Colombia NBC NewsThough migration without documentation isn’t illegal in Colombia, it is illegal to exploit migrants by charging them to make the journey through and out of Colombia. From there, he will be tried on charges of smuggling in Colombia and could face extradition to the U.S. In Colombia alone, HSI has worked with local law enforcement to arrest 42 alleged human smugglers and 210 suspects in narcotics-related crimes. U.S. and Colombian law enforcement gather for a tactical briefing before an international human trafficking operation. Brian Vicente, the head of HSI in Colombia, said after the arrests of the three alleged human smugglers, “It’s one organization that’s been taken off, disrupted and dismantled."

☆ Europe has kicked out over 400 suspected Russian spies this year alone, British intelligence chief says
▼ + stars: | 2022-11-16 | by ( Jake Epstein | ) www.businessinsider.com time to read: +3 min

Europe booted over 400 Russian officials suspected of being spies this year, the MI5 chief said. Ken McCallum said this gave a "most significant strategic blow" to Russia's intelligence agencies. "Alongside the wave of expulsions, the other part of that template is staying the course and preventing Russian intelligence restocking," McCallum said. "In the UK's case, since our removal of 23 Russian spies posing as diplomats, we have refused on national security grounds over 100 Russian diplomatic visa applications." Russian spies and operatives have been suspected of carrying out attacks like bombings, poisonings, sabotage, and assassination attempts for years, and Europe has tried to combat Moscow's increasingly hostile activities in other countries.

☆ UK MI5 chief says expulsion of Russian spies has delivered significant blow
▼ + stars: | 2022-11-16 | by ( Michael Holden | ) www.reuters.com time to read: +4 min

Summary UK spy chief says Russian aggression will last yearsMore than 400 Russian spies expelled from Europe, he saysChina playing 'long game' to influence future UK assetsLONDON, Nov 16 (Reuters) - The expulsion of more than 400 suspected Russian spies from across Europe this year has struck the "most significant strategic blow" against Moscow in recent history and taken Vladimir Putin by surprise, Britain's domestic spy chief said. McCallum said Britain had refused more than 100 Russian diplomatic visa applications on national security grounds since then. "The serious point is that the UK must be ready for Russian aggression for years to come," he said. The spy chief also said Chinese authorities were monitoring and intimidating the Chinese diaspora, with action ranging from forcible repatriation to assault. "To intimidate and harass UK nationals or those who have made the UK their home cannot be tolerated," McCallum said.

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