The Congress party is debating holding a general election in November, six months ahead of schedule, senior party leaders said, reflecting an internal discussion over whether to pull the plug on the shaky ruling coalition or have it serve a full term. Full Article
- Winning ticket for $590.5 million Powerball lottery sold in Florida
- HSBC cuts gold, silver price forecasts for 2013, 2014
- Rod Stewart tops UK album chart for first time in 34 years
- S.Africa minister accuses Indian High Commission official in Gupta scandal
- Indian cinema on a mission at Cannes to dispel Bollywood image
Confused while buying stocks? Get buy, sell or hold recommendations from VantageTrade. Full Coverage
Goldman Sachs Asset Management chief O'Neill to retire
REUTERS - Jim O'Neill, the chairman of Goldman Sachs Group Inc's (GS.N) asset management division who coined the popular term "BRIC" to refer to four fast-growing emerging markets, will retire later this year, according to an internal memo sent out on Tuesday.
O'Neill is an economist by training who joined the firm in 1995 as a partner, said the memo, which was signed by Goldman Sachs Chief Executive Lloyd Blankfein.
He is perhaps best known for coming up with the BRIC acronym in 2001, which identified Brazil, Russia, India and China as top emerging markets where investors could put their money for high returns. He proclaimed that those emerging economies, China's in particular, would help drive markets and world economic growth for the next decade.
O'Neill, once described as the world's first rock star economist for his talent on predicting movements in the $1 trillion-a-day foreign exchange markets, continues to be bullish on China.
O'Neill's calls have been broadly accurate, except for his belief that the world economy was not in trouble during the financial crisis.
In the memo, Blankfein said: "Jim is an influential economist and thought leader, and is regarded as an expert in the world's foreign exchange and bond markets."
(Reporting By Lauren Tara LaCapra and Jennifer Ablan; Editing by Gerald E. McCormick and Leslie Adler)
- Tweet this
- Share this
- Digg this