Donald Trump managed to close out his first year in the White House with a major tax reform package that had something for everyone, except for homeowners in deep-blue states, but most especially for investors. Among the highlights that have them so excited is a tax holiday allowing for repatriation of overseas cash. Investors are hoping that cash is used for more dividends and buybacks, but a safer bet could be on another round of merger mania.
Now that the hotly debated tax reform bill is a reality, potential winners of a corporate tax move to 21% from 35% are starting to emerge, but exactly how long those benefits will last is being questioned.
Goldman Sachs will begin moving hundreds of people out of London before any Brexit deal is struck as part of its contingency plans for Britain leaving the European Union, the Wall Street firm's Europe CEO said.
Goldman Sachs Group Inc. on Wednesday named company veterans David Solomon and Harvey Schwartz presidents and co-chief operating officers to succeed Gary Cohn, who is set to head the White House National Economic Council.