GOING AFTER CASH: Goldman Sachs is about halfway to a goal management set in 2017 to generate $5bn more in annual revenue by next year, largely by boosting reliable, fee-based businesses. Picture: BLOOMBERG/NICKY LOH
GOING AFTER CASH: Goldman Sachs is about halfway to a goal management set in 2017 to generate $5bn more in annual revenue by next year, largely by boosting reliable, fee-based businesses. Picture: BLOOMBERG/NICKY LOH

Goldman Sachs is considering paying big multinational corporations more for their deposits than other banks as it paves the way for its entry into a mundane but prized business: managing cash. The global investment banking powerhouse and fifth-largest US bank, which is six months into building the required technology, aims to start the service in the first half of 2020. The bank could offer existing corporate clients more on deposits if they sign up for Goldman’s cash management services.

BMW group sales up in 2018

BMW’s group sales went up 1.1% worldwide in 2018 to 2,490,664 vehicles, the company said on Friday, adding that it expected a slight increase this year despite challenging market conditions.

BMW brand sales increased by 1.8% worldwide in 2018, to 2,125,026 vehicles, the company said, with December sales rising 1.3%. The group’s December sales fell 0.7% compared with the previous year.

Reuters