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Goldman Sachs' credit card business exit reportedly delayed due to high cancellation rates and lenient underwriting – bank reveals potential $400 million pre-tax hit – Barclays (NYSE:BCS), General Motors (NYSE:GM)

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Goldman Sachs' credit card business exit reportedly delayed due to high cancellation rates and lenient underwriting - bank reveals potential $400 million pre-tax hit - Barclays (NYSE:BCS), General Motors (NYSE:GM)

Goldman Sachs GS faces a potential pre-tax hit of nearly $400 million from the sale of its General Motors Managing director credit card portfolio and a smaller unrelated business. What happened:Goldman has been in talks for several months with GM and Barclays PLC CSC Barclays has been reluctant to accept …

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ECB set to cut interest rates again to pave way for Fed

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ECB set to cut interest rates again to pave way for Fed

(Bloomberg) — The European Central Bank is likely to cut interest rates on Thursday in a prelude to a U.S. move the following week, as the global monetary cycle tilts toward more synchronized easing. Most read on Bloomberg Eurozone officials have signaled they will implement a second cut in borrowing …

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Kamala Harris unveils 28% capital gains tax on top earners, lowering Biden's proposed rates ahead of 2024 election

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Kamala Harris unveils 28% capital gains tax on top earners, lowering Biden's proposed rates ahead of 2024 election

Vice President Kamala Harris has unveiled a new tax plan targeting long-term capital gains, softening the president's stance Joe BidenThe tariffs were previously proposed by the government ahead of the 2024 presidential election. What happenedVice President Harris on Wednesday introduced a 28% tax on long-term capital gains for households earning …

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Bank of Canada cuts rates again as inflation and labor market cool – Canadian stocks rally and Canadian dollar strengthens – Bombardier (OTC:BDRBF), Bausch Health Companies (NYSE:BHC)

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Bank of Canada cuts rates again as inflation and labor market cool - Canadian stocks rally and Canadian dollar strengthens - Bombardier (OTC:BDRBF), Bausch Health Companies (NYSE:BHC)

He Bank of Canada (BoC) cut its key policy rate by 25 basis points to 4.25% on Wednesday, marking the third consecutive rate cut since June. The move was widely expected by market participants as inflation and the labor market continued to show signs of slowing. The Canadian economy grew …

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