April 19, 2016 1,405 Views Tagged with: Earnings Goldman Sachs Profits Print This Post On the other hand, Goldman Sachs said that debt underwriting net revenues were significantly higher compared with the first quarter of 2015, “primarily reflecting an increase in investment-grade activity.” Overall, the firm’s investment banking transaction backlog decreased compared with the end of 2015, but was higher compared with the end of the first quarter of 2015.Investing and lending net revenues fell 93 percent from the last quarter and 95 percent year-over-year to $87 million for the first quarter of 2016. Goldman Sachs attributes this decrease to a “significant decrease in net revenues from investments in both private and public equities, which were negatively impacted by generally lower global equity prices and corporate performance during the first quarter of 2016.”Debt securities and loans net revenues were also significantly lower compared with the first quarter of 2015, primarily “reflecting lower net revenues related to loans and lending commitments to institutional clients (including higher provision for losses) and lower net gains from investments,” the statement said.“Looking ahead, we will continue to focus on delivering superior service to our clients and managing our business efficiently, which remain essential to generating shareholder value over the long term,” Blankfein said.Click here to view Goldman Sachs’ 2016 First Quarter Earnings Statement. About Author: Xhevrije West The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Earnings Goldman Sachs Profits 2016-04-19 Brian Honea Xhevrije West is a talented writer and editor based in Dallas, Texas. She has worked for a number of publications including The Syracuse New Times, Dallas Flow Magazine, and Bellwethr Magazine. She completed her Bachelors at Alcorn State University and went on to complete her Masters at Syracuse University. Servicers Navigate the Post-Pandemic World 2 days ago Share Save Home / Daily Dose / Headwinds Devastate Goldman Sachs’ Q1 Profits in Daily Dose, Featured, News Related Articles Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Investment banking firm Goldman Sachs is the latest financial firm to have its profits take a turn for the worse, following plummeting incomes reported from JPMorgan Chase, Citigroup, Bank of America, Wells Fargo, and PNC.According to Goldman Sachs’ 2016 first quarter earnings statement released Tuesday, net income at the firm fell 60 percent year-over-year due to operational troubles in all areas of the business.Goldman Sachs reported net earnings of $1.14 billion for the first quarter ended March 31, 2016, up 48 percent from $765 million in the fourth quarter of 2015 but down 60 percent from a year ago when earnings totaled $2.84 billion.Net revenues at the investment firm fell 13 percent from the fourth quarter of 2015 to $6.34 billion for the first quarter of 2016 and decreased 40 percent from $10.62 billion last year.Lloyd C. Blankfein, Chairman and CEO at Goldman Sachs noted, “The operating environment this quarter presented a broad range of challenges, resulting in headwinds across virtually every one of our businesses.”Diluted earnings per common share were $2.68 compared with $5.94 for the first quarter of 2015 and $1.27 for the fourth quarter of 2015, the statement showed.Investment banking net revenues were $1.46 billion for the first quarter of 2016, 23 percent lower than the first quarter of 2015 and 5 percent lower than the fourth quarter of 2015. Meanwhile, underwriting net revenues fell 27 percent year-over-year to $692 million, due to “significantly lower net revenues in equity underwriting, reflecting low levels of industry-wide activity during the quarter,” the statement said. Headwinds Devastate Goldman Sachs’ Q1 Profits The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: ATR Rule Sends Borrower Claims Packing Next: Counsel’s Corner: The Battle Over GSE Profits is Raging Subscribe “The operating environment this quarter presented a broad range of challenges, resulting in headwinds across virtually every one of our businesses.”Lloyd Blankfein, Goldman Sachs Chairman and CEO Sign up for DS News Daily
Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago How Does Homebuying Power Stack Up Across Ethnicity? in Daily Dose, Featured, Journal, Market Studies, News April 12, 2018 2,168 Views For a new report, Zillow calculated buying power among major ethnic and racial groups to see what percentage of each group could afford a median-priced home on the median salary for their group without spending more than 30 percent of their income on housing. Homebuyers in 2017 were able to afford nearly three quarters of homes available for sale during the year, according to Zillow. However, buying power was not uniform across all groups.“Distinct racial and ethnic gaps in homeownership exist nationwide, which could have long-lasting implications for future generations,” said Aaron Terrazas, Senior Economist at Zillow.Asian buyers fared best, able to choose from 85.2 percent of homes. White buyers had the second-greatest buying power, able to afford 77.6 percent of homes for sale. Hispanic homebuyers could afford 64.9 percent of homes available.Black homebuyers had the fewest options, able to afford just 55.3 percent of the homes available for purchase. It’s a disheartening statistic as the nation marks the 50th anniversary of the Fair Housing Act of 1968.”The divide between black and white Americans has proven stubbornly persistent across the long arc of American history, visible in incomes, accumulated wealth, and homeownership,” Terrazas said. In April, Zillow reported their gap between black and white homeownership has actually widened since 1900, increasing from 27.6 percent to 30.3 percent. This is “despite years of policy efforts,” according to Zillow.This gap is significant because homeownership is an important source of wealth-building in the United States. In fact, Zillow noted “more than half the overall wealth of American households is held in their primary residence.” Furthermore, “Black and Hispanic homeowners rely on their homes for wealth more than white homeowners do,” according to Zillow. When examining market-level data, Zillow found that black homebuyers had less buying power than other major groups in all but three of the largest 35 housing markets in 2017.In the New York/Northern New Jersey, Houston, and Boston markets, black homebuyers had slightly more buying power than Hispanic buyers. In six of the largest 35 markets, black homebuyers could afford less than one-fourth of homes for sale. Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago Subscribe Krista Franks Brock is a professional writer and editor who has covered the mortgage banking and default servicing sectors since 2011. Previously, she served as managing editor of DS News and Southern Distinction, a regional lifestyle publication. Her work has appeared in a variety of print and online publications, including Consumers Digest, Dallas Style and Design, DS News and DSNews.com, MReport and theMReport.com. She holds degrees in journalism and art from the University of Georgia. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Tagged with: African-American buyers asian homebuyers buying power ethnicity Hispanic buyers Homebuyers African-American buyers asian homebuyers buying power ethnicity Hispanic buyers Homebuyers 2018-04-12 Krista Franks Brock Previous: College Students Plagued by ‘Housing Insecurity’ Next: The Industry Pulse: Updates on US Bank, Mr. Cooper, and More Related Articles Share Save Home / Daily Dose / How Does Homebuying Power Stack Up Across Ethnicity? Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily About Author: Krista Franks Brock
Containers have been a hot topic in 2016—and while they’re garnering interest and momentum, we’re very early on in terms of market maturity.This doesn’t mean we shouldn’t be excited! Over the past year, containers as a technology have gained a lot of traction, with the three main players—Docker, Mesosphere and Kubernetes—finding themselves on equal footing as far as adoption and offerings. This is very different from the last couple of years, when these platforms were on uneven footing as far as equivalent offerings, and it’s a great evolution because it means freedom of choice, flexibility and the opportunity to experiment for enterprise users.However, this is a single point in time in the market, and I predict the landscape will look very different a year from now. By this time next year, we’ll find that one container technology has risen to the top either by way of innovation, functionality, funding, adoption or some combination thereof.We’ve already seen some very interesting market moves this year, with Mesosphere taking funding and announcing partnerships with HPE and Microsoft, and the Apprenda acquisition of Kismatic, the company behind Kubernetes. Docker also took on a Series D round of funding last spring at $1Billion+ valuation. All of these investments signal competition in the space, and we’ll see this heat up exponentially in the coming months—but with the current state of VC, it’s a crapshoot as to whether revenue will come out of these investments and what that means for container evolution.So why is that, if container technology is so desirable?It’s the fact that software is hard to manage, and there’s currently not one single complete product or solution in a platform. Software is only as good as the user’s ability to consume it, and if users are cobbling together software to make a single solution, odds are good that they’re spending human and monetary assets in a way that compromises efficiency rather than promotes it. With so many facets to enterprise IT, the majority of companies currently don’t have the ability to consume software-only products.And this is the hole in the container market. A hole, yes, but also an opportunity to build a cohesive solution that addresses the barriers to adoption: persistence, support for apps, ease of use and lock-in for existing proprietary hardware.For developers, containers make deployments and the packaging of apps and software easier because they make applications and associated dependencies more portable—the deployment process is absolutely critical. Containers also give developers granularity and control over what gets deployed and, on the development side, offer the ability to build more simplistic infrastructure to support these apps—and a simpler infrastructure is more scalable and efficient to operate.But the toolsets are still in early stages of development, and users have to be good at operationalizing infrastructures in general. They have to catch problems, respond quickly, understand that software will break and generally be on their toes. The next technical step is to operationalize the software and environment, and that’s a whole set of technical challenges that people aren’t ready for–yet.Together, the open source community will build solutions to make containers easily consumable, and skills and tools will also make that shift so that the evolution of IT teams is more empowered to successfully run software-only approaches to tech workloads.EMC took a swing at this today—more here—but there’s more work to be done by the community at large.By this time next year, the container market will be a whole new ballgame, with one clear leader and higher adoption as the technology evolves. We’re in for an interesting ride!
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GCC’S SECOND-division captain Devon Lord and GNIC all-rounder Ryan Shun starred with ball and bat to propel the Red Star Cricket Club to victory in the Etobicoke and District 50-Over Cricket League on Saturday at Caledonia Park, in Toronto, Canada.Both local-based Guyanese cricketers, they travelled up for the league, which runs until the end of October.For Lord, this is his second year playing for Red Star, while Shun is playing for the first time this season.The GNIC cricketer has had a relatively good run outside of Guyana, given that he did well for the Munroe Road Cricket Club in a premier two league in Trinidad earlier this year.Lord played two previous games, prior to last Saturday’s victory, but he batted late and did not get the opportunity to bowl. Shun, on the other hand, played his second game on Saturday and has looked solid with the bat so far, given that he followed up his 47, over a week ago, with 63 not out two days ago.In their clash against Melbourne CC, Red Star won the toss and reached 158-2 off of 34 overs before rain ended the innings prematurely.Shun, batting at number three, led the attack. He struck four fours and three sixes in a top score of 63 not out.In reply, Lord made light work of the middle order. The left-arm spinner finished with 4-30 from six overs.The GCC cricketer was also outstanding with the ball in the league last year, after finishing with a team high 24 wickets.
I am going through some academic issues right now. I’m working through it now. I will still continue my career at the University of Michigan ! #GoBlue— Chris Evans (@Kidnplay_abc123) February 5, 2019Evans later told The Detroit News in March the issue was “an academic mistake. Not my grades. I’m on pace to graduate.”While he’s no longer enrolled at the school or on a football scholarship, Harbaugh left the door open for Evans to work his way back to the roster.Evans, 21, rushed for 423 yards and four touchdowns last season, becoming the team’s second-leading rusher in 2018 behind Karan Higdon. SEC will allow stadiums, arenas to sell alcohol beginning this season “Chris Evans is suspended for the year,” Harbaugh told The Detroit News.The decision ultimately was made by the university rather than the football program. Evans had appealed it with the hope of having it reduced from a full year to a half year so he could still play in the fall, but the school upheld the verdict. Related News Don’t expect to see Chris Evans on the field for Michigan in 2019.While speaking Sunday at a football camp at Grand Valley State University, Wolverines coach Jim Harbaugh confirmed the suspended running back won’t play this season. Urban Meyer ‘thinks’ he’s done with coaching: ‘I learned my lesson long ago’ It was reported in February that Evans was no longer a member of the team, though he took to Twitter to explain he was dealing with academic issues and had no intention of leaving the university. Ohio State lands top wide receiver Julian Fleming for 2020