Goldman Sachs Group Inc. ’s top lawyer Kathy Ruemmler is leaving the firm following a cache of Department of Justice documents showing her links with sex offender Jeffrey Epstein. She will leave the bank on June 30, the company said. Goldman Sachs Chief Executive David Solomon said in a statement that “Kathy has been an extraordinary general counsel,” adding that she would be “missed.” Ruemmler wa...
Goldman Sachs Group Inc. ’s top lawyer Kathy Ruemmler is leaving the firm following a cache of Department of Justice documents showing her links with sex offender Jeffrey Epstein. She will leave the bank on June 30, the company said. Goldman Sachs Chief Executive David Solomon said in a statement that “Kathy has been an extraordinary general counsel,” adding that she would be “missed.” Ruemmler was well-known for her time as a White House counsel in Barack Obama’s administration, before returning to Latham & Watkins. She was then hired by Goldman Sachs in 2020 and later became its legal chief. The bank has said she disclosed to the firm’s leadership at the time that she had previously dealt with Epstein, who had offered to use his network to help her build her private practice. She has previously said she regrets ever knowing him. Her name has continued to come up in batches of documents tied to the sex offender, who died while in federal custody in 2019. Last year, when House Democrats released emails tied to Epstein, Ruemmler appeared in exchanges with Epstein, criticizing President Donald Trump . A batch of files released in January revealed Ruemmler had a nickname for Epstein: “Uncle Jeffrey.” The documents also show Ruemmler may have accepted gifts and travel from him, and was once accused of having an affair with one of his top lawyers, who was married.
Across social media, a curious phrase has been circulating: “You met me at a very Chinese time in my life.” It appears under videos of hotpot dinners, DHGate hauls, Chinese streetwear fits and users joking about switching their phone interfaces into Chinese “for the aesthetic”. It has even spawned an ecosystem of spin-offs: “Chinamaxxing”, “you will turn Chinese tomorrow” and countless posts where...
Across social media, a curious phrase has been circulating: “You met me at a very Chinese time in my life.” It appears under videos of hotpot dinners, DHGate hauls, Chinese streetwear fits and users joking about switching their phone interfaces into Chinese “for the aesthetic”. It has even spawned an ecosystem of spin-offs: “Chinamaxxing”, “you will turn Chinese tomorrow” and countless posts where people half-joke about becoming “more Chinese” by the day. But beneath the humour of what looks...
The yuan’s rally against the rupee may have further to run, as authorities in India and China diverge in how they manage their currencies, according to analysts. Australia and New Zealand Banking Group Ltd. sees the rupee weakening to 13.58 per yuan by the year-end. Malayan Banking Bhd. expects the pair to move toward 13.30 by December, while Emkay Global Financial Services Ltd. sees it hitting th...
The yuan’s rally against the rupee may have further to run, as authorities in India and China diverge in how they manage their currencies, according to analysts. Australia and New Zealand Banking Group Ltd. sees the rupee weakening to 13.58 per yuan by the year-end. Malayan Banking Bhd. expects the pair to move toward 13.30 by December, while Emkay Global Financial Services Ltd. sees it hitting that level in three to six months. The yuan’s moves matter for India as China is its largest source of imports and their bilateral trade continues to expand. Further strength in the yuan, which climbed to a record against the rupee last month, will raise the cost of Chinese goods for Indian importers. This may potentially alter trade dynamics and impact inflation just as the Indian central bank nears the end of its rate-cut cycle. “I expect the yuan to continue to appreciate as the authorities look favorably toward having a stronger currency,” said Khoon Goh , head of Asia research at ANZ in Singapore. For India, the need to have a more competitive currency to offset its “higher relative inflation rate to other Asian economies means the rupee’s nominal exchange rate needs to weaken further.” India’s retail inflation is on an upward trajectory, while China has seen bouts of consumer-price deflation . The widening price gap between the two economies will increase pressure on the rupee to adjust to keep Indian exports competitive , particularly if the yuan’s gains begin to slow. The yuan surged nearly 10% against the rupee last year, the most in 12 years. It benefited from a surge in capital inflows , dollar weakness and the People’s Bank of China’s higher tolerance for a stronger currency. In contrast, the rupee hit successive lows against the dollar on foreign outflows, before erasing some of the losses after India-US trade deal. While a spate of Wall Street banks, including Bank of America Corp., Goldman Sachs Group Inc. and Morgan Stanley, have raised their forecasts for the...
"Everyone's Grandma Is Selling The Silver Chandelier, Forks, Knives" As Scrap Volumes Overwhelm Refiners Silver's explosive January rally, which briefly pushed futures prices above $120 per ounce, has since fizzled, with futures trading around $82 as of Thursday morning. Even so, the frenzy has sparked a sharp increase in scrap silver volumes flowing to refiners, as people rush to sell silver coin...
"Everyone's Grandma Is Selling The Silver Chandelier, Forks, Knives" As Scrap Volumes Overwhelm Refiners Silver's explosive January rally, which briefly pushed futures prices above $120 per ounce, has since fizzled, with futures trading around $82 as of Thursday morning. Even so, the frenzy has sparked a sharp increase in scrap silver volumes flowing to refiners, as people rush to sell silver coins, sterling dinner sets, candlesticks, and other heirlooms inherited from grandparents or Boomer parents. Bloomberg reports coin and jewelry shops have seen what they describe as a "rush of customers" seeking to dispose of collectibles, silverware, and family treasures during the historic surge in silver prices last month. "Everyone's grandma is selling their chandelier, forks, and knives — anything that's made of sterling silver to utilize the silver prices," said Gene Furman, owner of King Gold & Pawn and Empire Gold Buyers, which has locations across the New York City metro area. "The average check I'm writing is probably in the $8,000 to $10,000 range," Gary Tancer, owner of Coin & Jewelry Gallery of Boca Raton, told the outlet. He noted consumers are "coming in droves and droves." Google Search trends show that as silver prices soared, so did online interest from people searching "sell my silver." A truly explosive surge... Related top search queries included: The influx of individuals deciding to sell their silver heirlooms has triggered a surge of silver scrap entering the market. Heraeus Precious Metals, one of the world's largest precious metals refiners, is now facing a backlog, said Dominik Sperzel, head of trading for the German firm. "When you place the silver order today, it cannot just take a few weeks," Sperzel said. "We're already talking about months." Jack Farley of Monetary Matters spoke with Milton Berg of MB Advisors Institutional Research about why Berg is bearish on silver at this point. His view is that refineries are being overwhelmed with scrap si...