Plus   Neg

Goldman Sachs In Talks To Buy General Motors' Credit-card Business: WSJ

Goldman Sachs Group Inc. is reportedly seeking to buy the credit-card business of General Motors Co. (GM).

According to WSJ, citing people familiar with the matter, Goldman Sachs is among a small number of bidders for the auto giant's credit-card business, which has about $3 billion in outstanding balances.

Goldman currently holds $2.3bn in credit card loans, up from $1.9bn at the start of the year.

Last year, Goldman had launched a credit card with Apple Inc. (AAPL) synced to iPhone users' Apple Wallet.

Since taking over Goldman Sachs, Chief Executive David Solomon has been increasing the company's consumer franchise as the bank's core trading and investment banking businesses continues to weaken.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Santa Cruz Bicycles LLC has recalled certain model year 2020 bicycles with aluminum frames citing fall risks, according to the U.S. Consumer Product Safety Commission. The recall involves about 2,900 units of model year 2020 Auminum Santa Cruz and Juliana Bicycles. In addition, about 216 were sold in Canada. AstraZeneca is mulling an additional global trial to confirm the 90% efficacy rate of its Covid-19 vaccine candidate at lower dosage, Bloomberg news quoted Chief Executive Officer Pascal Soriot as saying. In an interview, Soriot noted that instead of adding the trial to an ongoing U.S. process, the company might launch a fresh study to evaluate efficacy of lower dosage of its vaccine that perform U.S. airline Delta Air Lines, Inc. and its Italian codeshare partner Alitalia are planning to launch quarantine-free, COVID-free flights between U.S. and Europe through new testing protocols, starting in December. In a statement, Delta said it has signed deals with airports and governments eliminating quarantine requirements on COVID-tested flights connecting Atlanta and Rome.
Follow RTT