According to China's top economic planning body, some local companies are cutting back on their efforts to hire new university graduates.China Economyread more
German Chancellor Angela Merkel has presided over a tumultuous recent period, which for many, has left Europe on the brink.Commentaryread more
Tensions between China and the U.S. are threatening to slow global trade further, threatening some Asian economies.Asia Economyread more
U.S. President Donald Trump's former campaign chairman Paul Manafort was transferred to a detention facility in Manhattan on Monday ahead of an expected arraignment on state...White Houseread more
Airbus recorded orders and options for 123 planes, according to the aviation consulting firm IBA.iQ.Paris Air Showread more
Markets in Asia were mostly higher on Tuesday as investors awaited the start of a closely-watched meeting by the U.S. Federal Reserve, set to kick off later stateside.Asia Marketsread more
Wall Street analysts think Facebook's cryptocurrency payments project will give the company a big boost.Marketsread more
Chinese President Xi Jinping will travel to North Korea this week for a two-day visit, ahead of a possible meeting between Xi and President Donald Trump at next week's G-20...Politicsread more
The Pentagon said that the crew of one of the tankers, the Japanese Kokuka Courageous, found an unexploded limpet mine on its hull following an initial explosion.Politicsread more
China's Alibaba Group on Tuesday said its chief financial officer, Maggie Wu, will oversee the firm's strategic acquisitions and investments unit, as part of a business and...Technologyread more
Despite the popularity of companies like Beyond Meat and Impossible Foods, meat consumption around the world continues to rise.Food & Beverageread more
The Wall Street powerhouse said it has named 509 new managing directors, which is the second-highest employee rank behind partner. That total is up from 425 in 2015. The bank names new managing directors every two years.
Of the total, 44 percent were millennials, while 24 percent were female, a number that is slightly below the 25 percent in 2015.
The number of managing directors named in banking was 101, up from 97 two years ago, while there were 130 named in securities, up from 102 in the prior class, and 52 named in technology, up from 38.
The new roles take effect on Jan. 1. While managing directors get raises, that does not come out of the big bonus pool in which partners are rewarded. The base salary for the position is $389,098, with total compensation at $746,891, according to Glassdoor.
"Our new Managing Directors have demonstrated an outstanding commitment to our people, clients and culture during their tenures at the firm, and we wish them continued success as they take this important next step in their careers," CEO Lloyd C. Blankfein said in a statement.
Bonuses are likely to be higher this year on Wall Street. New York State Comptroller Thomas DiNapoli recently reported that compensation is on track to rise 3.8 percent this year from an average salary of $375,300 in 2016.
Goldman has 34,400 total employees.