Goldman Sachs plans big job cuts as business slows
Goldman Sachs is planning deep job cuts as it grapples with a sharp downturn in business.
The investment bank is preparing cuts that could affect up to 8% of its global workforce, or nearly 4,000 people, the BBC understands.
The reductions would go into effect early next year. Details on how different offices and parts of the business will be affected are still being finalised.
The company declined to comment.
But chief executive David Solomon has repeatedly raised concerns about the economic outlook in recent months, saying clients were being cautious and the environment was driving him to look at reducing costs.
Investment banking revenues have plunged this year, as economic uncertainty and a market downturn puts a dampener on mergers and stock listings.
At Goldman, overall revenues dropped 20% in the first nine months of the year, compared to 2021 when business was booming. Profits fell even more sharply.
Goldman, which employs roughly 49,000 people worldwide, already cut hundreds of jobs earlier this year, resuming an annual culling of low-performers that had paused during the pandemic.
Bonuses are also expected to be smaller this year.
The final figures for job cuts are still being determined.
"We continue to see headwinds on our expense lines, particularly in the near term," Mr Solomon said at a conference last week.
"We've set in motion certain expense mitigation plans, but it will take some time to realise the benefits. Ultimately, we will remain nimble and we will size the firm to reflect the opportunity set."
Source- BBC
CIBC plans full roll-out of loan store in 2023
Regional bank CIBC FirstCaribbean said it is working to have the portal open to all customers by the end of 2023.
Now undergoing a phased roll-out to selected customers of the bank following the official launch in 2021, the web-based application has been steadily building momentum as it engages and caters to the needs of customers stretched across nine countries in the Caribbean. These include Antigua, St Lucia, Jamaica, Barbados, The Bahamas, the Cayman Islands, Turks and Caicos, Trinidad and Tobago, and the British Virgin Islands.
"Right now the service is being offered by invitation only as we phase it in; therefore, not all our clients will be selected but so far uptake has been good and has also been working exactly as we envisaged, even matching our business as usual [BAU] sales and we are very satisfied," senior manager for sales and business development at CIBC, Christopher McFarlane, told the Jamaica Observer in a recent interview.
"We will be reaching out to our clients across the Caribbean to make sure that more persons can have access between now and before the end of 2023 as we work to serve all of our customers and not just some," he said to the Caribbean Business Report.
At the end of its financial year in 2021, financial details for the regional financial institution show that it disbursed US$6.3 billion in loans and advances to customers. Revenues for that year amounted to US$534 million, supported by recovered profits of US$126 million.
McFarlane providing a rationale for the development of the platform said that aside from it falling under the bank's wider digital transformation objectives, the intent was also to build out more Omni-channels as the institution moves to satisfy customer requests, offer more mediums for facilitating communication and transactions while also driving further growth in its loan portfolio.
Messi leads Argentina to glory in World Cup
Lionel Messi finally achieved his World Cup dream as Argentina won their third crown on penalties in one of the greatest finals in the tournament's history.
Argentina won the shootout 4-2 after a spectacular game which developed into the much-anticipated confrontation between the 35-year-old maestro Messi and his France opposite number Kylian Mbappe.
France's own superstar scored a hat-trick - the first in a Fifa World Cup final since 1966 - but still ended up on the losing side at Lusail Stadium.
Messi looked to be securing the one major honor missing from his glittering collection in comfort as Argentina cruised into a two-goal lead.
This all changed when an explosive intervention from Mbappe, who scored two goals inside two minutes late on, turned this frantic, magnificent match for the ages on its head.
Messi had given Argentina the lead from the penalty spot in the 23rd minute following Ousmane Dembele's foul on Angel di Maria. It made him the first player in World Cup history to score in the group stage, last 16, quarter-final, semi-final, and final of a single tournament.
He then contributed a delicate touch within a magnificent counter-attack that ended with Brighton's Alexis Mac Allister setting up Di Maria for the second 13 minutes later.
Argentina was untroubled until the closing stages, only for Mbappe to give France a lifeline from the penalty spot with nine minutes left - then restore equality with a magnificent volley moments later.
Messi bundled Argentina back in front in extra time, but Mbappe completed his treble from the spot two minutes from the end of a frantic, chaotic added spell.
And so it went to penalties, with the two greats opening the scoring. But Argentina and Aston Villa goalkeeper Emiliano Martinez saved from Kingsley Coman, before Aurelian Tchouameni missed, leaving Gonzalo Montiel to win the World Cup.
Messi, a World Cup winner at last, collapsed to his knees in the center circle and was engulfed by jubilant Argentina teammates.
Messi stood at the pinnacle of his career as Argentina closed out time in the World Cup final, only for great rival Mbappe to threaten to knock him off and leave him in despair.
Instead, this World Cup - which will now have Messi's name attached to it forever, along with a final that will rank alongside the greats - gave the iconic Argentine the conclusion he wanted.
Messi was imperious for 80 minutes in his final World Cup game as Argentina exerted complete control over a strangely labored France, scoring his penalty with ease before contributing crucially to a second goal which was a team creation of beauty finished off by Di Maria.
Mbappe cemented his status as one of the game's modern greats with only the second hat-trick in a World Cup final, following Sir Geoff Hurst's when England beat West Germany in 1966. But the 23-year-old still suffered the pain of defeat.
Mbappe was as anonymous as most of his team for the first 80 minutes, ill-served amid an unfathomably poor France display - which they put in despite seeking to become the first side to retain the trophy since Brazil did so 60 years ago, and only the third ever after Italy won in 1934 and 1938.
Manager Didier Deschamps even made two substitutions before half-time, replacing Olivier Giroud and Dembele with Marcus Thuram and Randal Kolo Muani.
And yet it was Mbappe who revived France in those sensational seconds when they went from looking like timid losers to potential winners, then getting his third from the spot after Messi had put Argentina back in front.
In a stunning period of extra time during which both sides exchanged chances, France could have won but for a superb last-gasp save by Martinez with his outstretched boot from Muani.
Instead, Mbappe will find history no consolation as he was embraced by his team-mates and French President Emmanuel Macron at the end of this enthralling spectacle.
Source-BBC
Twitter blocks users from sharing Mastodon links
Twitter has blocked its users from sharing some links to its social media rival Mastodon.
Mastodon is divided into groups, called servers, based on many topics including the UK, snooker, and security.
Twitter has blocked links to some of the largest servers which users would join, including the most popular "social" channel.
And Twitter is also stopping users from adding links to their Mastodon account in their bios - calling them "malware".
There is absolutely no evidence to support the suggestion that Mastodon contains malware - malicious software that can harm your device.
Mastodon said it gained hundreds of thousands of users in November, with some Twitter users seeking alternative platforms.
A subsequent attempt to turn the reference into a clickable link to her Mastodon page cannot be posted to Twitter.
It is not clear how many Mastodon servers have been blocked on Twitter, or why.
Users attempting to post links to blocked servers will receive an error message instead, which says: "We can't complete this request because this link has been identified by Twitter or our partners as being potentially harmful."
As well as blocking certain links to Mastodon, Twitter has taken action against its rival's main account.
The Twitter account @joinmastodon, which advertised the site and its features, was unexpectedly suspended on Thursday alongside those of several notable journalists covering Twitter owner Elon Musk.
This has led the EU to threaten Mr. Musk with sanctions, with commissioner Vera Jourova warning that the EU's Digital Services Act requires respect of media freedom.
"Elon Musk should be aware of that. There are red lines. And sanctions, soon," she tweeted.
A Twitter spokeswoman told the tech website The Verge that the journalists' ban was related to the live sharing of location data.
This came after Mr. Musk vowed to sue the owner of a Twitter account that tracked his private jet. This account has also been suspended.
While no reason has been given for the Mastodon suspension, there is a coincidence in timing - in the few hours beforehand, @joinmastodon shared a link showing where the person tracking Mr. Musk's jet can be found on the rival social media site.
Source-BBC
Kylian Mbappe wins 2022 World Cup Golden Boot
Kylian Mbappe has claimed the prestigious Golden Boot award in Qatar.
According to DailyMail UK, the forward eventually sealed the feat in the grand finale between Argentina and France, scoring a hat-trick.
Mbappe finished the tournament with eight goals and two assists, seeing off competition from Argentina’s Lionel Messi, teammate Olivier Giroud, and Argentina’s Julian Alvarez.
Mbappe started the game with five goals and two assists, needing a further assist -without reply - to move ahead of Messi in the race.
First Mbappe converted from the spot, giving France a much-needed lifeline then, a minute later, he scored another to draw France level and move ahead of Messi in the Golden Boot race.
However, in the second period of extra time, Messi scored another to give Argentina a 3-2 lead, and once again reclaim his place at the top of the Golden Boot leaderboard, but France was awarded a penalty with just two minutes remaining in the second half and Mbappe was the man who found the back of the net.
Source-AP
Brittney Griner speaks out for first time since being released from Russian prison
Brittney Griner thanked her family and friends and credited her faith for helping her survive her time in custody in her first comments since being released from a Russian prison earlier this month.
"It feels so good to be home! The last 10 months have been a battle at every turn," Griner wrote on Instagram Friday. "I dug deep to keep my faith and it was the love from so many of you that helped keep me going. From the bottom of my heart, thank you to everyone for your help."
The U.S. swapped the WNBA star for convicted Russian arms dealer Viktor Bout on December 8.
Griner also specifically thanked President Joe Biden and urged the U.S. to continue to fight to bring imprisoned ex-Marine Paul Whelan home from Russia.
"President Biden, you brought me home and I know you are committed to bringing Paul Whelan and all Americans home too," she wrote. "I will use my platform to do whatever I can to help you. I also encourage everyone that played a part in bringing me home to continue their efforts to bring all Americans home. Every family deserves to be whole."
Griner's post on Instagram included a photo of her stepping off a plane in Texas upon returning to the U.S. and a photo of her hugging her wife, Cherelle. Griner’s agent confirmed that she has left a San Antonio military base, where she was recuperating and is on her way home.
Griner said she plans to play for the Phoenix Mercury when the WNBA season starts up next spring.
Griner was taken into custody at a Moscow area airport in February in possession of vaping cartridges containing hashish oil, an illegal substance in Russia. She pleaded guilty in July and was sentenced to nine years in prison on August 7.
Source-ABC
The Cheapest Ford F-150 Lightning Pro Sees Another Price Increase
It was nearly too good while it lasted. The original base price assigned to the 2022 Ford F-150 Lightning Pro was eye-popping for its size, or lack thereof: Here was an all-electric full-size pickup truck listed at just over $41,000(!).
To help keep that price so low, Ford used a ton of carryover parts from the regular, gas-fed F-150—and also charged a lot more for bigger batteries and higher trim levels, ensuring those pricey models helped its bottom line. Now, it seems like the entry-level F-150 Lightning's ride as a standout value is over, as following price increases in August and again in October, Ford is charging up the price of its least-expensive F-150 Lightning Pro model yet again, with the latest changes appearing on its website just days after we named the Lightning our 2023 Truck of the Year.
The Pro is not the only model affected by the new pricing, but it sees the biggest change. Those previous price increases raised the truck's MSRP from its initial—and staggering—tab of just $41,769 to $48,769 and then to $53,769. With this latest shift, the Pro now starts at $57,869.
So, if you thought that August and October's combined $12,000 increase was staggering, well, sit down, because this month's change means the Pro is $16,100 dearer than it was earlier this year.
Nor does that new price include the $500 Mobile Power Cord, if you wanted that as an option (which the Ford configurator tries to include but you can remove it).
Of course, any AC EV charger with a J1772 connector will work with the Lighting Pro to charge it on AC power, so even though Ford's online build-your-own configurator seems to automatically include the Power Cord it's not strictly necessary. Lightning XLTs see a price increase from $61,269 in standard range form to $65,369; the extended-range model sees a $100 increase to $82,869.
Standard-range Lariats also see a $100 increase to $76,369, while the extended-range is curiously a few hundred dollars cheaper than before at $87,219. The Platinum (extended range-only) is a heart-stopping $98,319, $350 cheaper than before.
Ford's price moves with the Pro move it out of the jaw-dropping value category and merely into "mid-priced" territory. Consider the only other electric truck available when the Lightning debuted: The Rivian R1T, which at the Lightning's launch started at $68,575 for a dual-motor example. At that time, nearly $30,000 separated it from that cheapest Ford.
The Chevrolet Silverado EV and Tesla Cybertruck have yet to go on sale. Even so, the Silverado WT is the only truck that promises to match the Lightning Pro's price, which Chevy claiming the also-entry-level Silverado EV will start at just $41,595—$74 less than the Ford's original ask. Provided the Silverado EV WT's price holds, it'll now be $16,274 cheaper than the Lightning Pro when it goes on sale next year.
Source- Motor Trend
Rihanna gives first glimpse of her baby boy in adorable TikTok video
Rihanna gave the world the first glimpse of her baby boy this weekend.
The singer posted an adorable TikTok video Saturday featuring her son with A$AP Rocky. In it, the little boy smiles from his car seat as Rihanna records him.
"You tryna get Mommy's phone?" Rihanna asks him, as his little hands grab for it.
The post also marked Rihanna’s first video on TikTok. Within just a few hours of posting, it had nearly three million views. “Hacked,” she captioned the clip.
Rihanna and A$AP welcomed their first child together in May. They have yet to publicly reveal his name.
Source-ABC
3-DAY PUBLIC WEATHER FORECAST PUBLIC FORECAST FOR THE TURKS AND CAICOS ISLANDS
GENERAL SITUATION: A SURFACE RIDGE ACROSS THE TURKS AND CAICOS ISLANDS. MEANWHILE, SEA SWELLS IMPACTING ATLANTIC COASTLINES WILL CONTINUE TO SUBSIDE THROUGH TONIGHT.
SPECIAL WARNINGS: BEACHGOERS SHOULD CONTINUE TO EXERCISE CAUTION DUE TO THE PRESENCE OF SEA SWELLS THAT WILL GIVE RISE TO POSSIBLE ROUGH SURF AND RIP CURRENTS.
ALL AREAS
WEATHER: MOSTLY SUNNY AND WARM WITH THE CHANCE OF ISOLATED SHOWERS TODAY, BECOMING FAIR AND COOL TONIGHT.
ADVISORY: A SMALL CRAFT ADVISORY IS IN EFFECT ALONG ATLANTIC EXPOSED SHORELINES DUE TO SWELLS.
WINDS: SOUTHEAST TO SOUTH AT 10 TO 15 KNOTS.
SEAS: 3 TO 5 FEET NEARSHORE AND IN SHELTERED AREAS, BUILDING 5 TO 8 FEET OVER OFFSHORE WATERS IN MODERATE NORTHEASTERLY SWELLS TODAY. EXPECT SEAS TO SUBSIDE 4 TO 7 FEET BY TONIGHT.
DAYTIME HIGH TEMPERATURE 81°F 27°C
OVERNIGHT LOW TEMPERATURE 70°F 21°C
SUN
SUNSET: 5:09 PM
TIDES
NEXT HIGH TIDE: 2:02 PM (2.3 FT)
NEXT LOW TIDE: 8:18 PM (1.0 FT)
EXTENDED FORECAST FOR THE NEXT TWO DAYS: THE SURFACE RIDGE WILL SLIDE EASTWARDS AS A COLD FRONT MOVES DOWN THE BAHAMA ISLANDS. LARGE, LONG-PERIOD NORTH-TO-NORTHEASTERLY SWELL WILL CONTINUE TO AFFECT THE AREA FOR THE NEXT SEVERAL DAYS.
FORECAST FOR SATURDAY
WEATHER: PARTLY SUNNY TO SUNNY AND WARM WITH A FEW ISOLATED SHOWERS
WINDS: EAST TO SOUTHEAST AT 10 TO 15 KNOTS
SEAS: 2 TO 4 FEET NEARSHORE, BUILDING 4 TO 6 FEET OVER THE OCEAN IN LIGHT NORTHEASTERLY SWELLS.
SUNRISE: 6:21 AM
SUNSET: 5:10 PM
HIGH TIDE: 2:34 AM (2.3 FT) 2:57 PM (2.3 FT)
LOW TIDE: 8:48 AM (1.0 FT) 9:08 PM (1.0 FT)
FORECAST FOR SUNDAY
WEATHER: PARTLY SUNNY TO SUNNY AND WARM WITH A FEW ISOLATED SHOWERS
WINDS: EAST TO SOUTHEAST AT 10 TO 15 KNOTS, BECOMING VARIABLE AT 10 KNOTS OR LESS IN THE EVENING
SEAS: 1 TO 3 FEET NEARSHORE, BUILDING UP TO 6 FEET IN LIGHT TO MODERATE NORTHEASTERLY SWELLS.
SUNRISE: 6:21 AM
SUNSET: 5:10 PM
HIGH TIDE: 3:35 AM (2.3 FT) 3:54 PM (2.3 FT)
LOW TIDE: 9:56 AM (1.0 FT) 10:01 PM (1.0 FT)
NBA renames MVP trophy after Michael Jordan
The National Basketball Association has renamed the trophy given to its regular season MVP after Michael Jordan, who is widely regarded as one of the greatest players of all time.
The bronze Michael Jordan Trophy is one of six renamed trophies unveiled by the NBA today and features a player breaking out of a rock to reach for a crystal basketball that consists of 23 points, a nod to Jordan’s jersey number.
The trophy’s namesake badge is six-sided, a nod to the six NBA championships Jordan won with the Chicago Bulls while its five-sided base is a nod to the five league Most Valuable Player awards he won during his Hall of Fame career.
The other renamed awards are the Jerry West Trophy for Clutch Player of the Year, the Hakeem Olajuwon Trophy for Defensive Player of the Year, the Wilt Chamberlain Trophy for Rookie of the Year, the John Havlicek Trophy for sixth man of the year and the George Mikan Trophy for Most Improved Player.
“Our new collection of trophies celebrates some of the greatest and most impactful players in the history of the NBA,” NBA Commissioner Adam Silver said in a news release.
“As we recognize the league’s top performers each season, we also pay tribute to the legends who embody these prestigious awards.”
Source- Reuters