Goldman Sachs retreat from retail banking

Goldman Sachs is retreating from the retail banking sector, as it folds its digital unit Marcus into the asset and wealth management division. The Wall Street giant's boss David Solomon stated that placing Marcus within wealth management is a better place for the company to be focused than to be out massively looking for consumers.

"The concept of really being broad with a consumer footprint is not really playing to our strengths. But when you look at our wealth platform...the ability to add banking services to that and align it with that actually plays to our strength," he said.

Electric air taxi start-up bags mega deal

United Airlines has added as many as 400 electric air taxis, known as electric vertical takeoff and landing, (eVTOL,) aircraft to its order backlog under a new deal with Embraer-backed Eve Air Mobility that was unveiled in September 2022. The deal also includes a conditional order for 200 aircraft plus 200 options, in addition to United’s existing conditional order for up to 200 eVTOLs from Archer Aviation, reported Airline Weekly. The airline will also invest USD 15 million in Eve. With this, United enters the rapidly growing urban air mobility market.

Credit Suisse goes for radical overhaul

Credit Suisse announced a series of radical measures to turn around the beleaguered bank's future after its huge third-quarter losses. The measures include revamping the bank's investment banking unit, 9,000 job cuts and raising fresh capital. Switzerland's second-biggest bank has also launched a strategic review, saying the results were intended to create "a simpler, more focused and more stable bank". The bank also intends to raise capital worth 4 billion Swiss francs through the issuance of new shares to qualified investors.

The Pixel 7 Pro will have minor upgrades as compared to its predecessor. Google is expected to switch to the Tensor G2 with the smartphone. GSMArena predicts that the new chip will bring in GPU, NPU and modem improvements. The Pro model will also be available in 12GB/128GB and 12GB/256GB configurations. It will carry a similar 50MP main, 12MP ultra-wide and 48MP telephoto setup as its predecessor.