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Goldman faces probe after entrepreneur slams Apple Card algorithm in tweets

Reuters Sunday, 10 November 2019
A probe into Goldman Sachs Group Inc's credit card practices has been initiated after tweets from a tech entrepreneur alleged gender discrimination in the new Apple Inc card algorithms that are used to determine credit limits.
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News video: Apple co-founder bashes credit card

Apple co-founder bashes credit card 01:14

Apple co-founder Steve Wozniak says Apple's new credit card gave him 10 times the credit limit his wife received even though they do not hold separate assets or bank or credit accounts. Fred Katayama reports.

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Goldman Sachs Goldman Sachs U.S. multinational investment bank

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On Thursday, Goldman Sachs said the S&P 500 can hit 3,600 if markets price in the bank's "comparatively more optimistic US GDP forecast." The banks analysts say specific market conditions would yield the growth. The economy contracts by only by 5% in 2020. It would have to grow by 6.2% next year. After that real yields will rise sharply to levels of "cyclical optimism" in June 2021.

Credit: Wochit News    Duration: 00:32Published
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On Friday, Goldman Sachs lifted its 2020 S&P 500 earnings-per-share estimate. The move comes after better-than-expected second-quarter results. Business Insider reports that Goldman expects 2020 S&P 500 EPS of $130, from $115. That's about 21% lower than 2019. Goldman also thinks S&P 500 earnings will surge 30%, to $170 per share in 2021. The estimate is tied to Goldman's economic growth outlook.

Credit: Wochit News    Duration: 00:33Published

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