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Express News | Barclays: Despite weak economic growth, the Bank of England will not be forced to cut interest rates in September.
Goldman Sachs' Credit Card Business Exit Reportedly Delayed Due To High Charge-Off Rates And Lenient Underwriting: Bank Discloses Potential $400M Pre-Tax Hit
Express News | Barclays expects the South Korean central bank to cut interest rates by 50 basis points in 2025.
Goldman Sachs reportedly plans to sell its credit card business in cooperation with General Motors to Barclays.
According to Reuters cited sources, Goldman Sachs is close to reaching an agreement with Barclays Bank for the sale of its credit card business in cooperation with General Motors. According to reports, the negotiations are in the final stages. The report did not mention the transaction price. Goldman Sachs, General Motors, and Mastercard jointly launched the credit card business in 2022, with outstanding loans of approximately $2 billion. Goldman Sachs mentioned the possibility of selling the credit card business as part of its plan to reduce its involvement in consumer financing business. Goldman Sachs CEO Solomon revealed on Monday that it will be disclosed in the third-quarter earnings report.