Goldman Sachs launches Marcus Invest asset management service for investors with small capital, according to Reuters. The service will automatically invest clients’ funds in exchange-traded funds (etf) on stocks and bonds and rebalance portfolios based on models that develop the bank’s investment strategy.
Historically, Goldman Sachs has offered asset management services to clients with capital of more than $ 10 million, according to The Wall Street Journal. The new service is designed for mass investors – the minimum amount to open an account is $ 1000. The annual service fee will be 0.35%, while for wealthy clients, fees for welfare advice may exceed 1% of the account balance, the publication said.
Retail investor interest in the stock market is now at its peak: stock trading applications like Robinhood have recently attracted millions of new users who want to participate in the “viral” stock trading GameStop and other popular traders, writes WSJ. However, unlike Robinhood and its competitors, the Goldman Sachs service will not yet give investors the opportunity to buy and sell shares of individual companies. Goldman Sachs believes that for most investors, the best way to build capital gradually is to diversify their portfolios, said Stephanie Cohen, co-chair of the bank’s banking operations and capital management department. However, in the future, Goldman may begin providing brokerage services through Marcus Invest, according to the WSJ.
One of those who tested the platform in beta was Goldman CEO David Solomon. Its strategy aims to reduce Goldman Sachs’ dependence on risky investment activities by shifting the focus to the consumer business, writes Reuters. The Financial Times previously noted that Goldman remains the only American bank that is heavily dependent on this type of income.
In 2016, the bank launched the Marcus division to diversify its revenues and funding sources by offering savings accounts and loans to private clients. Marcus Invest offers individual and joint investment accounts, as well as three types of individual pension accounts.
The Federal Aviation Administration (FAA) is set to release on Thursday, November 6, a list of the nation’s busiest airports where flight volumes will be reduced by 10% due to the ongoing federal government shutdown. FAA Administrator Brian Bedford said that “in 35 years in the aviation industry, I can’t recall a situation where we […]
Google plans to build a large artificial intelligence data processing center on the remote Christmas Island in the Indian Ocean, Reuters reports, citing reviewed documents and conversations with officials. According to military experts, such a facility would become a strategic asset on the island, which is increasingly being viewed by defense officials as a critical […]
Toyota has announced a massive recall of more than one million vehicles due to a malfunction in the rearview camera system, which may prevent the display from showing the rear view while reversing, Carscoops reports. The recall affects Toyota, Lexus, and Subaru models, including the Camry, Crown, Land Cruiser, RX, TX, LC, and the Solterra […]
Microsoft Corporation has signed a $9.7 billion deal with data centre operator IREN, which provides access to advanced Nvidia chips. This was reported by Reuters. This caused IREN’s shares to rise more than 20% on Monday, 3 November, during pre-market trading. It is noted that shares in artificial intelligence server manufacturer Dell rose 5% as […]
Romania has signed an agreement with German defence company Rheinmetall to build a powder factory. According to Prime Minister Ilie Bolojan, construction of the €535 million plant in Victoria is expected to begin in 2026, take three years to complete and create around 700 jobs. He noted that Romania will seek to finance part of […]
The second VAT rate increase in seven years, scheduled for 2026, will place Russia among the top 20 countries in the world in terms of this tax. This was announced by analysts at the Gaidar Institute. Only a few EU countries or countries belonging to the EU single market will have higher VAT rates than […]
The Council of the European Union has approved the fifth payment to Ukraine totaling over €1.8 billion under the Ukraine Facility mechanism, according to a statement published on the EU Council’s website. This amount reflects Ukraine’s successful implementation of nine steps required for the fifth tranche, as well as one outstanding step from the fourth […]
The largest oil refineries in Turkey have begun purchasing more non-Russian crude in response to the latest Western sanctions against Moscow, Reuters reports, citing sources familiar with the situation. Turkey, India, and China have been buying nearly all the crude oil exported by Russia. Seaborne shipments to China this year have remained at about 1–1.5 […]
The invention and distribution of coronavirus vaccines have made nine people billionaires. Euronews reported this with reference to the data of non-governmental organizations. “Nine new billionaires have a combined net worth of $ 19.3 billion, which is enough to fully vaccinate all people in low-income countries 1.3 times. Meanwhile, those countries have received only 0.2 […]
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Saturday morning in the company of LDaily and our traditional surveys of the most prominent, important and interesting events in the world of business in a week – is a great chance to start the day not only pleasantly , but also with the use. After all, the information is always an advantage, the quality […]
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During 5 years of its activity the HarvEast company invested 500 million UAH in the improving of soil quality (21 thous UAH was invested in each share). This was stated by the general director of the company,Dmitry Skornyakov, reports “SCM”. In addition, the company has invested 500 million UAH (20% of all investments in the […]
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Foxconn, which manufactures electronic equipment, announced that it intends to invest $ 4,65 billion in the construction of a new factory in Guyame, China, the purpose of which is to create new modern LCD screens. Legally, the new venture will own the Century Technology Fund and Guyam city in China. Percentagewise the fund receive 76% […]
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The state corporation Saudi Aramco is preparing to place dollar Eurobonds, a source in banking circles said. According to him, the company is considering the possibility of placing up to five tranches of Eurobonds: with a maturity of three years, five years, ten years, as well as thirty and / or fifty years. Starting on […]
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Shares of Starbucks recovered from losses of February and March due to the pandemic and rose by 19.7% over the past 6 months. But shares fell again after the publication of the quarterly report, which ended September 30. Starbucks revenue and profit for the 4th quarter of fiscal 2020 showed a strong jump in growth […]
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The agreement on a single corporate tax rate of at least 15 percent was signed by 136 states, which account for more than 90 percent of world GDP. The agreement is aimed at combating tax evasion by international corporations. The initiative was also signed by countries that were initially opposed to tax reform, such as […]
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Oil becomes cheaper due to a sharp increase of reserves in the US and an increase in the number of coronavirus cases, which has raised fears of oversupply and weakening demand. This is evidenced by the data of stock trading on the site Investing.com published on Wednesday, October 28. In particular, the price of December […]
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The founder of Tesla and SpaceX, Elon Musk, became the highest paid CEO in the United States last year, according to Forbes magazine. The publication reminds that in 2018 Musk gave up his salary at Tesla. Instead, he receives a reward in the form of options on the company’s shares. In 2020, the businessman received […]
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Apple CEO Tim Cook doubts that he will hold the post for another 10 years. He stated this in an interview published on Monday in The New York Times. Asked if he would head Apple during that time, Cook said: “Another 10 years. Probably not.” He added that now the specific time when he could […]
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The head of Fiat Chrysler officially announced about the separation of Ferrari on January, 4, 2016, during the entering the Milan stock exchange. For the first time in 47 years Ferrari gained its independence, showing up as a separate from the Fiat Chrysler company. Head of Fiat Chrysler said in an interview that Ferrari had […]
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Goldman Sachs launches Marcus Invest asset management service for investors with small capital, according to Reuters. The service will automatically invest clients’ funds in exchange-traded funds (etf) on stocks and bonds and rebalance portfolios based on models that develop the bank’s investment strategy. Historically, Goldman Sachs has offered asset management services to clients with capital […]
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The National Agency for the Detection, Investigation and Management of Corrupt Assets (ARMA) has identified Ukrtransnafta as the winner of a tender to manage the seized part of the Samara-Western Direction main oil pipeline. It is noted that only two participants took part in the competition, as competition in this market is limited. “The winner […]
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Owners of the Volkswagen ID.3 in the UK will have to pay extra to unlock the full potential of their cars, Electrek reports. On the official site, the ID.3 Pro and Pro S are listed with 201 hp, but access to the maximum 228 hp is now offered only for an additional fee. The upgrade […]
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The court satisfied the claim of the state-owned PrivatBank to Agroterminal and decided to collect UAH 1 billion in debt from it as a guarantor of Boryvazh. This is stated in the decision of the Commercial Court of Odessa region. According to court materials, PrivatBank terminated the loan agreement due to the debtor’s breach of […]
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Ukrainian company SkyUp Airlines opens new foreign routes departing from Kyiv, Lviv and Kharkiv. On Tuesdays and Fridays flights are scheduled from Kiev to Belgrade and Stockholm, on Thursdays and Sundays in Bratislava, on Wednesdays and Sundays in Amman, on Mondays and Thursdays in Colombo, on Wednesdays and Saturdays in Dubai. From Lviv on Wednesdays […]
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