Investing
Goldman Sachs plans to offload GM credit card – source
© Reuters. FILE PHOTO: The GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. REUTERS/Rebecca Cook/File Photo
(Reuters) -Goldman Sachs plans to offload its General Motors (NYSE:) credit cards, a person familiar with the matter told Reuters on Tuesday.
GM will start a process to find a new issuer for the cards instead of Goldman Sachs, the source added.
The automaker did not immediately respond to a Reuters request for comment. The development was first reported by the Wall Street Journal.
Last month, Goldman beat third-quarter profit estimates helped by a nascent recovery in dealmaking but the bank’s ill-fated foray into consumer banking, which has lost $3 billion over three years, has continued to weigh.
Goldman CEO David Solomon has now shifted the firm’s focus back to its traditional strengths – investment banking and trading – and aims to grow in asset and wealth management.
Read the full article here
What to Do If TikTok is Banned — How to Protect Your Brand
10 Roles That Are Surprisingly Well-Suited for Outsourcing
How AI Can Make Us Better Leaders
How Pets Can Promote Better Health and Well-Being in the Workplace
Biden cancels more student loans with one week left to his term
10 Critical Questions to Ask Your Financial Advisor Now
10 Ways to Make Money As a Graphic Designer
If you are 60 years old, new 401(k) rules could save you money
Could Easier Cancellations Build Customer Loyalty?
Airbus keeps top spot with 766 jet deliveries in 2024 By Reuters
Debt ceiling debate and its effect on the U.S. dollar
Debt ceiling default: Still no deal between parties
Stovall: If the U.S. defaults on its debt, all S&P 500 sectors will likely fall
What China's weaker-than-expected economy could mean for U.S. markets
A ‘Big Short’ investor sees financial disaster brewing in housing markets — again
-
Make Money7 days ago10 Critical Questions to Ask Your Financial Advisor Now
-
Make Money6 days ago10 Ways to Make Money As a Graphic Designer
-
Personal Finance5 days agoIf you are 60 years old, new 401(k) rules could save you money
-
Investing6 days agoCould Easier Cancellations Build Customer Loyalty?
-
Investing7 days agoAirbus keeps top spot with 766 jet deliveries in 2024 By Reuters
-
Investing4 days agoBank regulator gives BlackRock new deadline on bank stakes, Bloomberg reports By Reuters
-
Side Hustles6 days agoTrump’s 2025 Inaugural Committee Raises Record $170 Million
-
Passive Income7 days agoHow to Build a Solid Go-to-Market Strategy for 2025