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More than 400 Chinese products will be temporarily exempted from tariffs that President Donald Trump's administration imposed last year.China Economyread more
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Netflix CEO Reed Hastings admitted that it's a "whole new world starting in November," with the launch of Apple TV+, Disney+ and other new streaming services.Technologyread more
President Donald Trump sarcastically tweeted that New York City "is devastated" by Mayor Bill de Blasio's exit from the 2020 presidential race. Two other Democratic mayors,...2020 Electionsread more
The move is planned as an expansion of the bank's Marcus by Goldman Sachs brand, a digital consumer-lending platform that it launched last October, its head of strategy Stephen Scherr said, according to the report.
It is also open to buying books of deposits if the opportunity arises, the report said.
Over time, the New York-based investment bank could look to add a consumer-lending arm in the U.K., Scherr added, according to the report.
Goldman Sach's push into retail banking comes as some of its traditional business lines are hampered by additional rules on risk-taking, according to the FT report. Its core debt-trading unit has had two lackluster quarters in a row, while the equity business has been slow to adapt to the rise of quantitative, computer-driven trading, the report said.