Finance

Trump names Treasury’s Scott Bessent acting head after firing Chopra

Published

2 months ago

February 3, 2025

Republican presidential nominee former President Donald Trump, left, listens as investor Scott Bessent speaks on the economy in Asheville, N.C., Wednesday, Aug. 14, 2024.

Matt Kelley | AP

President Donald Trump has made Treasury Secretary Scott Bessent the acting director of the Consumer Financial Protection Bureau after firing former head Rohit Chopra over the weekend.

Bessent, a former hedge fund manager who was confirmed as head of the U.S. Treasury last week, will presumably lead the CFPB until a permanent pick is named.

“I look forward to working with the CFPB to advance President Trump’s agenda to lower costs for the American people and accelerate economic growth,” Bessent said in a CFPB statement announcing his appointment.

This story is developing. Please check back for updates.

Finance

Goldman Sachs (GS) earnings Q1 2025

Published

4 hours ago

April 14, 2025

Business Finance News

David Solomon, CEO of Goldman Sachs, testifies during a Senate Banking Committee hearing at the Hart Senate Office Building in Washington, D.C., on Dec. 6, 2023.

Win Mcnamee | Getty Images

Goldman Sachs is scheduled to report first-quarter earnings before the opening bell Monday.

Here’s what Wall Street expects:

Earnings: $12.35 per share, according to LSEG
Revenue: $14.81 billion, according to LSEG
Trading Revenue: Fixed Income of $4.56 billion and Equities of $3.65 billion, per StreetAccount
Investing Banking Revenue: $1.94 billion, per StreetAccount

Goldman Sachs may prove to be a beneficiary of the recent market environment.

On Friday, rivals JPMorgan Chase and Morgan Stanley each topped expectations for first-quarter results on booming equities trading.

Equities trading revenue surged 48% and 45% at the banks, respectively, thanks to volatility in the opening months of President Donald Trump’s tenure amid his efforts to reshape global trade agreements.

Buoyant markets during most of the quarter, which ended March 31, should also support the bank’s wealth and asset management division, which CEO David Solomon has called the growth engine of the bank.

But markets have churned since Trump escalated trade tensions last week, sowing uncertainty across the world’s largest economy. Goldman shares have dropped 14% this year through Friday.

Analysts will be keen to hear what Solomon has to say about his conversations with corporate clients and institutional investors during the tumult.

This story is developing. Please check back for updates.