Finance

Goldman Sachs Launches New Team to Drive Financing Focus

Goldman Sachs (GS.N) is forming a new team aimed at strengthening its focus on financing large-scale deals and providing loans to corporate clients, as the Wall Street powerhouse seeks to capture a larger share of the thriving private credit market. The newly created division, named the Capital Solutions Group, will operate within the investment bank's global banking and markets division, broadening its service offerings for corporate clients, the firm announced on Monday.

"There is significant demand from our investing clients for private credit and private equity," said CEO David Solomon in a statement, highlighting that the growth of private assets is "one of the most important structural trends occurring in finance."

With the private credit industry now nearing a $2 trillion market, banks have been eager to seize the opportunity. In September, Citigroup (C.N) and Apollo Global (APO.N) launched a joint $25 billion private credit and direct lending initiative.

TECH

Tech Giants Warned: UK Online Safety Laws Are Final

Britain’s new laws aimed at improving online safety and combating hate speech are "not up for negotiation," a senior government minister has insisted, following Meta founder Mark Zuckerberg's pledge to join Donald Trump in pressuring countries they view as "censoring" content.

In an interview with the Observer, Peter Kyle, the technology secretary, emphasized that the recent laws, which seek to make online platforms safer for children and vulnerable individuals, will not be weakened in an effort to attract big tech companies to the UK as part of its broader economic growth strategy.

Kyle’s remarks come as Keir Starmer prepares for a significant outreach to big tech this week, where he will position the UK as the ideal location for developing artificial intelligence (AI) technology.

However, the prime minister's efforts are being made amidst ongoing and fierce criticism from Elon Musk, a prominent figure in Silicon Valley and a strong supporter of Trump.

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CRYPTO

Sudden Bitcoin Plunge Raises Alarm Over $3.2 Trillion Crypto Collapse

Bitcoin has suddenly fallen below $91,000 per coin, raising concerns that the Federal Reserve could be on the verge of triggering a significant price crash.

The bitcoin price has sharply declined from its post-Donald Trump election high of nearly $110,000 per coin, despite Trump indicating plans to make a major impact on bitcoin prices.

As the Federal Reserve faces warnings of an impending crisis, bitcoin and crypto traders are anxiously monitoring the situation, fearing the combined crypto market could dip below the crucial $3.2 trillion mark.