Goldman Cuts; Billionaire Wanted; NYT for Clinton: Saturday Wrapby
Times surprises no one with endorsement of ‘tenacious’ Clinton
Obama says African American museum can be symbol of hope
Here are the highlights of Saturday’s top breaking stories from around the world:
Goldman Sachs plans to cut about a quarter of its investment-banking jobs in Asia, excluding Japan, because of a slump in deal-making in the region. That would amount to a cutback of some 75 positions out of the company’s global workforce of about 35,000. Goldman faces its worst Asian ranking in managing stock offerings since 2008, slumping to 11th from second in 2015, according to data compiled by Bloomberg.
Jeremy Corbyn, 67, was re-elected as U.K. Labour Party leader with an increased share of the vote among more than 500,000 party members. That may give him a stronger mandate to unite Labour against Conservative Prime Minister Theresa May as the nation copes with fallout from its Brexit vote in June. The socialist held on to support from rank-and-file Labour voters keen on his “authentic” image and disdain for austerity policies.
President Barack Obama opened the Smithsonian’s National Museum of African American History and Culture, on Washington’s National Mall, with a sweeping address that reminded Americans the nation can move forward “even in the face of unimaginable difficulty.” He spoke as authorities in Charlotte, North Carolina, said they would release videos related to a fatal police shooting of a black man this week that has triggered large protests.
Malaysian billionaire T. Ananda Krishnan, 78, has investment interests ranging from oil and gas to newspapers, and soon he may see his face on a “wanted” poster after an Indian court issued arrest warrants for him and another official at Krishnan-controlled Astro All Asia Networks. At issue is a probe into alleged phone-license corruption. India wants Harvard-educated Krishnan, Malaysia’s fourth-richest person, to face court proceedings.
German Chancellor Angela Merkel has ruled out any state assistance for Deutsche Bank in the coming year, a German magazine reported. The nation’s biggest lender has lost almost half its market value this year and may face large sanctions from the U.S. Justice Department in a probe tied to mortgage-backed securities.
The last Republican candidate endorsed for U.S. president by the New York Times was Dwight D. Eisenhower in 1956. The newspaper kept the Democratic streak alive by giving its 2016 nod to former Secretary of State Hillary Clinton, arguing that her “occasional missteps” are outweighed by tenacity and “a raft of pragmatic ideas.” The Times said it will follow up with an assessment of Republican Donald Trump as “the worst nominee” in modern American history.
For the messaging addict who has everything, Snapchat will soon release special spectacles -- called Spectacles -- that resemble sunglasses but have a built-in camera for shooting circular videos of up to 10 seconds. The $130 one-size-fits-most device will be available in three colors starting this fall. At the same time, the startup said it will change its name to Snap Inc. to reflect its larger ambitions.