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Topic: Goldman Sachs

Apple is pulling the plug on its credit card partnership with Goldman Sachs Group, the Wall Street Journal reported on Tuesday. News 

Apple’s Goldman Sachs Credit Card Partnership May Be Coming to an End – Report

Adriana Marais,

(Reuters) – Apple is pulling the plug on its credit card partnership with Goldman Sachs Group, the Wall Street Journal reported on Tuesday. The technology giant recently sent a Wall Street bank a proposal to exit the deal within the next 12 to 15 months, the report said, citing people briefed on the matter. Apple and Goldman had started to introduce a virtual credit card in 2019. The exit would cover their entire consumer partnership, including the savings account launched this year, the report added. Asked about the report, the…

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A review of LinkedIn posts made by former Grindr employees show departures at various roles in iOS app development, data engineering and product strategy. (Bloomberg) News 

Grindr Cuts Workforce by Almost Half Due to RTO Regulations

Nitin Misra,

Following the announcement of a unionization plan by a majority of its employees, Grindr Inc. has implemented a stringent return-to-office policy, resulting in a significant reduction of approximately 45% of its workforce. About 80 of the LGBTQ dating app company’s 178 employees were forced to resign after the company in August mandated employees return to work in person at designated “hubs” two days a week or be fired, the Communications Workers of America said in a statement. statement on Wednesday. The West Hollywood, Calif.-based company also issued a severance package…

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The company sees a bright future manufacturing low-power chips. News 

Intel Becomes Latest Investor in Arm Holdings Alongside Apple, Alphabet, and Samsung

Adriana Marais, , , , , , ,

According to Tom’s Hardware, Intel has recently joined the list of companies investing in Arm, which already includes Samsung, Alphabet, Nvidia, and others. This decision coincides with Softbank’s preparations for Arm’s initial public offering (IPO), where they plan to offer 95.5 million shares at a price range of $47 to $51 per share. Arm is currently valued at $52 billion, surpassing the failed deal in 2022 to sell Arm to Nvidia for $40 billion, which faced obstacles such as a lawsuit from the Federal Trade Commission seeking to prevent it.…

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Apple and Goldman Sachs recently introduced a long-promised high-yield savings account. (REUTERS) News 

Goldman Sachs Negotiating Departure from Apple Alliance – WSJ

Adriana Marais,

The Wall Street Journal reports that Goldman Sachs Group Inc. is contemplating ending its partnership with Apple Inc., which played a significant role in elevating the iPhone maker’s presence in the finance industry. The bank is negotiating with American Express Co. to take over Apple’s credit card and other services jointly offered by the companies, the newspaper cited unidentified people familiar with the situation. According to the newspaper, Apple is aware of the negotiations, which have been going on for months. The technology company would have to agree to the…

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Apple said users of its Apple Card can earn 4.15 percent on savings accounts, or 10 times higher than the national average News 

Apple and Goldman Sachs are launching a high-yield savings account for US savers

Adriana Marais, ,

Apple Inc is seeking to lure U.S. savers with a new high-yield savings account it announced on Monday with partner Goldman Sachs Group Inc amid increased competition among financial institutions for consumer dollars. Apple said its Apple Card users can earn 4.15 percent in savings accounts, or 10 times the national average, citing March data from the Federal Deposit Insurance Corporation that showed consumers earned an average of 0.37 percent on savings in bank accounts. Regional and small banks compete with deposit-based promotions, including higher interest rates and cash bonuses…

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