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May 16 – According to the New York Times, the Trump administration is considering establishing a $1.7 billion fund to compensate allies investigated by the Justice Department during former President Bidens term, a move that would create a moral, legal, and political minefield for Republicans and Justice Department leadership. According to three people familiar with the matter, this unusual plan has not yet been finalized or approved. Democrats and former administration officials have criticized the plan as a massive, taxpayer-funded secret political fund. The proposal is a response to various allegations brought by President Trump against the federal government he controls. He has sought compensation for leaked tax returns during his first term, post-leave investigations into his handling of classified documents, and investigations into potential ties between his 2016 campaign and Russia. The idea of establishing a government fund to pay Trumps political allies has gained increasing support internally as the Justice Department and the White House attempt to resolve Trumps $10 billion lawsuit against the IRS, which he filed in January. Officials familiar with the details revealed that establishing a compensation fund for Trumps allies, but not for the president himself, could provide a short-term solution, allowing the president to obtain tangible benefits from the lawsuit before a judge dismisses it.Market news: BlackRocks private credit fund valuation is under investigation by the U.S. Department of Justice.According to SEC filings, Berkshire Hathaway reduced its stake in Chevron (CVX.N) by 35.2%, down to 84.4 million shares.SEC filings show that Berkshire Hathaway has sold off all of its Amazon (AMZN.O) shares.S&P: As a major net exporter of crude oil and an emerging producer of refined products, Nigeria has been less affected by the Middle East conflict.

In January, Goldman Sachs Predicted Layoffs

Charlie Brooks

Dec 30, 2022 11:22

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Bloomberg reported that Goldman Sachs (NYSE:GS) CEO David Solomon indicated the company is planning a new round of layoffs in his annual presentation to staff.


Solomon purportedly claimed that Goldman Sachs is doing a comprehensive review and, despite continued discussions, predicts a "headcount reduction in the first half of January."


According to Bloomberg, Solomon stated, "There are several factors influencing the corporate landscape, including tightening monetary circumstances that are constraining economic development." Our leadership team is focused on preparing the organization to face these obstacles.


The newspaper reported, citing sources with knowledge of the issue, that Goldman Sachs may eliminate up to 8% of its workforce, or up to 4,000 positions, to balance a fall in profits and revenue. However, the number could be decreased.


In addition, senior-level managers have apparently been tasked with identifying future cost-cutting objectives, despite the fact that no final job loss figures have been determined.


In his end-of-year address, Solomon stressed that the corporation must "continue with care" and handle its resources responsibly.

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