Oct 22, 2018

Goldman Sachs expanding plans for online loan platform

Photo: Jaap Arriens/NurPhoto via Getty Images

Goldman Sachs is shifting its digital personal loan and high-interest savings business "Marcus" to the now-combined consumer and investment management division, multiple outlets reported and Axios confirmed.

Why it matters: Goldman Sachs CEO David Solomon said the company plans to launch a product that combines "Marcus" with Goldman Sachs' existing products, according to an internal memo obtained by Axios. The goal is that this allows the bank to serve not just hedge funds or the ultra-rich, but a "broader spectrum of individual consumers and investors," which Solomon talked about before he became CEO. CNBC reports this offering could potentially take the form of a robo-advisor.

Note: This story has been updated with details from the memo.

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Boris Johnson in intensive care as coronavirus symptoms worsen

Photo: Peter Summers/Getty Images

U.K. Prime Minister Boris Johnson is being treated in the intensive care unit of St. Thomas' Hospital in London due to increasingly severe coronavirus symptoms.

What they're saying: Cabinet minister Michael Gove told LBC radio on Tuesday morning Johnson was not on a ventilator. "The prime minister has received some oxygen support and he is kept under, of course, close supervision," he said.

Go deeperArrowUpdated 53 mins ago - World

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 3 a.m. ET: 1,348,184— Total deaths: 74,834 — Total recoveries: 284,802Map.
  2. U.S.: Total confirmed cases as of 3 a.m. ET: 368,376 — Total deaths: 10,989 — Total recoveries: 19,828Map.
  3. Trump administration latest: President Trump's economic adviser Peter Navarro warned White House colleagues in late January the coronavirus could take over half a million American lives and cost close to $6 trillion, memos obtained by Axios show.
  4. 2020 update: Wisconsin Supreme Court blocks governor's attempt to delay in-person primary voting delayed until June.
  5. States latest: West Coast states send ventilators to New York and other states with more immediate need — Data suggest coronavirus curve may be flattening in New York, Gov. Andrew Cuomo said.
  6. World update: U.K. Prime Minister Boris Johnson moved to intensive care as coronavirus symptoms worsen.
  7. Stocks latest: The S&P 500 closed up 7% on Monday, while the Dow rose more than 1,500 points.
  8. What should I do? Pets, moving and personal health. Answers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk.
  9. Other resources: CDC on how to avoid the virus, what to do if you get it.

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U.S. coronavirus updates: Death toll nears 11,000

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Andrew Witherspoon/Axios

Recorded deaths from the novel coronavirus surpassed 10,900 in the U.S. early Tuesday, per Johns Hopkins data. More than 1,000 people in the U.S. have died of coronavirus-related conditions each day since April 1.

Why it matters: U.S. Surgeon General Jerome Adams said on Sunday this week will be "the hardest and saddest week of most Americans' lives" — calling it our "our Pearl Harbor, our 9/11 moment."

Go deeperArrowUpdated 2 hours ago - Health