Core Insights - Goldman Sachs reported record third-quarter results, achieving revenues of $15 billion and earnings per share of $12.25, surpassing forecasts of $14.1 billion in revenues and $11 in earnings per share [1][3] Financial Performance - The investment banking division generated $2.6 billion in fees, contributing significantly to the overall performance [1] - The company's stock price increased by 37% this year, reflecting strong market confidence [5] Strategic Moves - Goldman Sachs announced plans to acquire Industry Ventures, a venture capital firm managing $7 billion in assets, for $665 million in cash and equity, with potential additional payments based on future performance [5][6] - The acquisition is expected to close early next year, indicating a strategic expansion into venture capital [6] Market Environment - CEO David Solomon highlighted that the results reflect the strength of the client franchise and the execution of strategic priorities in an improved market environment [4] - Trading desks benefited from market volatility caused by tariff policies, impacting various asset classes [4]

Core Insights - Gold prices have reached a record high of $4,106.48 per ounce, driven by renewed US-China trade tensions and expectations of interest rate cuts [1][2] - Gold has increased by 56% this year, with significant contributions from geopolitical uncertainties and robust central bank buying [2][5] - Analysts predict gold could exceed $5,000 per ounce by the end of 2026, supported by steady central bank purchases and ETF inflows [3][6] Market Dynamics - Traders are anticipating a 97% probability of a 25-basis-point Federal Reserve rate cut in October and a 100% chance for December, which typically benefits gold prices [4][10] - Spot silver also reached a record high of $52.12, influenced by similar factors affecting gold and market tightness [7] Analyst Predictions - Bank of America and Societe Generale expect gold to reach $5,000 by 2026, while Standard Chartered has raised its forecast to an average of $4,488 for next year [6] - Analysts suggest that while the current rally has momentum, a near-term correction could be beneficial for a longer-term uptrend [6]

Core Points - China's new export regulations on rare earth elements could significantly impact major tech companies like Apple and Tesla, as well as US military contractors, serving as a strategic bargaining tool in trade negotiations with the US [1][4][10] - The requirement for foreign entities to obtain special licenses for exporting products with over 0.1% rare earth metals from China will take effect on December 1, creating uncertainty for US companies [2][5] - The announcement has led to a surge in stocks of US-based rare earth mining companies, with some experiencing increases of 20% or more [3] Industry Impact - China holds a near-monopoly on the global supply of rare earth metals, controlling approximately 70% of mining and 90% of processing capabilities, which gives it significant leverage in international trade [7][10] - The new licensing requirements are expected to complicate supply chains, potentially leading to higher prices for consumers in the US [5][14] - The US is facing challenges in ramping up domestic production of critical minerals due to China's restrictions on technology exports related to mining and processing [14][18] Military Implications - Licenses for products with military applications are likely to be denied, which raises concerns about the availability of rare earth elements for defense technologies [6][10] - The potential for a total embargo on rare earth exports from China remains a concern, especially in the context of rising geopolitical tensions, such as the situation regarding Taiwan [13]

Core Points - Doug Lebda, founder and CEO of LendingTree, passed away in an ATV accident at the age of 55, leaving a significant impact on the financial services industry [1][6][8] - Scott Peyree, the company's President and COO, has been appointed as the new CEO, with Steve Ozonian as the chairman of the board [1][2][7] Company Overview - LendingTree was founded in 1996 by Lebda after his personal struggles with obtaining a mortgage, aiming to create a digital marketplace for lenders to compete for borrowers [6][9] - The company went public in 2000 and has since grown into one of the largest financial comparison platforms in the U.S., expanding its offerings to include credit cards, auto loans, insurance, and small-business financing [6][11] Market Reaction - Following the announcement of Lebda's death, LendingTree's shares fell approximately 9%, from nearly $61 to around $56.91, extending a 10% decline over the previous week [2][3] - The stock has fluctuated between $33.50 and $77.35 over the past 52 weeks [3] Leadership Transition - The board expressed confidence in the existing management team established by Lebda, emphasizing the commitment to uphold his legacy and vision for the company [2][7][8] - Ozonian stated that the board will work closely with Peyree and the leadership team to honor Lebda's vision [7] Legacy and Impact - Lebda's innovative approach transformed the financial services landscape, impacting millions of consumers and establishing a competitive environment for lenders [1][6][8] - He was also involved in various corporate boards and contributed to the civic and philanthropic community in Charlotte [12]

David Zaslav has a simple message for Paramount Skydance chief David Ellison: Get serious or go home.The hard-charging Warner Bros. Discovery CEO has relayed to Ellison, who reportedly has been floating a lowball bid of around $20 a share and suggesting he might go hostile – that he needs to put up more money, possibly upwards of $30 a share to close a deal, The Post has learned.Ellison, just months after he purchased Paramount in a deal valued at $8 billion, is expected to finally make an official offer fo ...

US consumers will end up paying for more than half of President Trump’s tariffs by the end of the year, according to a note released Sunday by Goldman Sachs economists. American consumers will shoulder 55% of tariff costs, while US companies will take on 22% and foreign exporters will absorb 18% by slashing prices on their goods, economists including Elsie Peng and David Mericle wrote in the note.“US businesses are likely bearing a larger share of the costs” as they aim to raise prices gradually, the econom ...

Three workers have died since Hyundai Motor started construction of its $7.6 billion auto plant in Georgia in 2022, the Wall Street Journal reported on Sunday, citing a review of federal records.Dozens of the company’s current and former workers, many of them safety coordinators who helped oversee construction, told the newspaper in interviews that the work environment involved many inexperienced immigrant laborers, often lax safety standards and frequent accidents.The plant, which is operated through a joi ...

Core Insights - Gold prices have reached a record high, with predictions suggesting it could rise to $5,000 an ounce within a year and potentially $10,000 by the end of the decade [1][4][6] Group 1: Price Predictions - Randy Smallwood, CEO of Wheaton Precious Metals, is confident that gold will exceed $5,000 within the next year and could reach $10,000 before the decade ends [2][6] - Spot gold surpassed $4,000 an ounce for the first time, marking a significant increase in value [4][10] Group 2: Market Drivers - The surge in gold prices is attributed to geopolitical uncertainty, limited physical supply, and a weaker US dollar, which has pushed investors towards gold as a safe haven [5][9] - Gold has increased approximately 50% in value so far in 2025, marking its best performance since 1979 [5][10] Group 3: Investor Behavior - Investors typically buy gold as a hedge against inflation and economic uncertainty due to its ability to retain value [8][12] - Central banks are expected to increase their gold reserves, with a survey indicating that 95% of central bankers anticipate a rise in global gold reserves this year [13] Group 4: Economic Context - Concerns over tariffs, high interest rates, and a slow labor market have contributed to the rising gold prices [9] - Analysts from Deutsche Bank predict that gold prices could exceed $4,000 by the end of the year, indicating a strong performance for the asset [14]

Core Insights - The Bureau of Labor Statistics (BLS) will release the Consumer Price Index (CPI) for September on October 24, despite the ongoing government shutdown, which has lasted for ten days [1][4] - The release of the CPI report is crucial for calculating Social Security payments, as it directly impacts the annual cost-of-living adjustment (COLA) [7][8] - The BLS has called back a limited number of furloughed employees to assist in the analysis of the already collected consumer price data [3][11] Economic Context - The government shutdown has led to a pause in all BLS operations, affecting the collection and analysis of economic data, including employment reports [4][11] - Economists and policymakers are closely monitoring employment data, particularly as some Federal Reserve officials cite a slowing labor market as a reason for potential interest rate cuts [5] Social Security Implications - The Social Security Administration is legally required to publish the COLA adjustment by November 1, which is based on the CPI data from the third quarter [8] - A projected 2.7% COLA increase for 2026 would raise average monthly payments for retirees by $54, to $2,062, following a 2.5% increase this year for over 72.5 million beneficiaries [10]

A longtime Microsoft engineer is resigning over claims the company is providing cloud-computing services to the Israeli military — the latest twist in months of tensions at the software giant over its role in the war in Gaza, according to a new report.Scott Sutfin-Glowski, a principal software engineer, informed coworkers in a letter Thursday that he was quitting after 13 years at Microsoft at the end of the week, CNBC reported.Sutfin-Glowski cited a February report that Israel’s military had at least 635 a ...