Receiving Wide Coverage ...
Will he stay or will he go?: Wall Street was abuzz Friday following a Wall Street Journal report that Goldman Sachs CEO
(Update: The papers are reporting that Solomon has come out ahead in that showdown, with Schwartz announcing plans to step down next month.
The Financial Times says there may be growing pressure on Blankfein to retire soon so that more senior executives and prospective successors don’t leave the firm, impatient for a chance to advance. “Under the surface there is
while it has been assumed Blankfein would leave "in the next couple of years,"
Gary Cohn, Goldman’s former president and one-time heir apparent who left the firm last year to join the Trump administration as chief economic advisor — and who announced his resignation from that post last week — is probably not in the running.
Chris Liddell, a former executive at Microsoft and General Motors, is said to be in the hunt to replace Cohn in the White House. Importantly, he has the support of Jared Kushner, the president’s son-in-law and senior adviser.
But not everyone is a fan. Liddell is “
Civil war: The Dodd-Frank rollback bill that the Senate is expected to pass sometime this week is creating a big divide among Democrats. According to the Journal, the bill pits “centrists up for re-election this year in red states, who support what they say would help smaller banks in their home states, against liberals seen as presidential contenders in 2020, who say the measure would inject more risk into the financial system overall.”
Wall Street Journal
Hype or hope?: Three takes on blockchain are offered by the paper. The technology “has yet to cross the chasm from technology enthusiasts and visionaries to the wider marketplace that’s more interested in business value and applications," writes Irving Wladawsky-Berger, a regular contributor to the paper’s CIO Journal. "Blockchain today is roughly where the internet was in the mid-late 1980s:
But technology columnist Christopher Mims warns readers not to get distracted by all the hype surrounding cryptocurrencies and initial coin offerings. “All that noise has obscured the bona fide efforts involving the underlying technology, blockchain,” he writes. “It’s the most seemingly mundane applications of blockchain that could lead to the
Indeed, a separate story shows adoption of blockchain may be closer than you think. A few universities and technology companies are developing “trustworthy, quickly verifiable digital diplomas and résumés” using blockchain. In fact, the Massachusetts Institute of Technology recently issued
Third time’s not the charm: Deutsche Bank top
Financial Times
Making the cut: American Express is planning to cut the fees it charges merchants to accept its cards by five or six basis points this year, to about 2.37%,
All in one: HSBC will become the first major British bank to launch a banking app that
Quotable
“People have long underestimated