Goldman Sachs’ Modern Approach to Banking

Goldman Sachs’ Modern Approach to Banking

Shreya Sharma

On July 31st, Publicis Sapient, a company well-known for collaborating with its clients to allow them to digitize their business and client services, partnered with Goldman Sachs to announce the launch of Goldman’s new transactional banking platform (Team). At Goldman, the mission of their transactional banking department is simple: “provide a global transaction banking platform that is nimble, secure, and easy for clients to use and for partners to connect to”. The concept behind their new virtual transaction platform remains the same as this central mission. But what exactly is this platform and how will it affect the future of banking at Goldman Sachs? Despite gearing up late to modernize this sector of banking, the 150 year old institution is “banking” on their credibility in the industry to match up to the rest of the banks in the technology race. This new transactional banking platform is expected to result in a larger clientele at the firm and higher reported earrings in the future years as it offers services through more advanced and easy-to-use technology from a consumer perspective.

Australia and New Zealand: Be Wary of Subversive Chinese Influence

Australia and New Zealand: Be Wary of Subversive Chinese Influence

Adam Hilelly

It is no secret that China has long had regional ambitions in the Indo-Pacific. The concern for the last 15 years, however, has been the country’s rise in influence in Australia and New Zealand. Specifically, countries in the West are concerned about China’s ability to infiltrate all levels of government in both, as the Oceanian countries are part of the Five Eyes intelligence alliance. This agreement is defined by nearly unfettered intelligence sharing among the United States, the United Kingdom, Canada, Australia, and New Zealand. The English-speaking countries have long worked together on matters of counter-terrorism, cyber security, and illicit finance. The alliance, however, depends on the individual countries’ ability to combat and deter foreign interference. Unfortunately, it seems increasingly clear that both Australia and New Zealand are witnessing exterior influence from China. While China has certainly influenced the three other members of the UKUSA Agreement, Australia and New Zealand are most at risk because of their geographic proximity to China and strategic importance in the Indo-Pacific. As China continues to grow its international presence, Five Eyes members need to take a hard look at their security mechanisms, transparency, and vision for the coming decades.

Tesla’s Million Mile Battery: Turning Point for the Electric Car

Tesla’s Million Mile Battery: Turning Point for the Electric Car

Shraiy Gupta

As gasoline cars continue to contribute to global warming, environmentalists, car makers, and people across the globe are looking for a more sustainable solution. This has led to the rise of the electric car. The first electric car was made in 1832 but was unpopular, and so the idea of electric cars fell by the wayside. Electric cars finally gained traction with the public in 2000 with the launch of the Toyota Prius. The Prius paved the way for the future of electric vehicles because it was not fully electric; it was hybrid. It demonstrated the benefits of electrical power by giving great mileage while still delivering the reliability of gasoline. However, the hybrid pointed to the greatest flaw that plagued electrical vehicles: range. Most gasoline powered engines have ranges that can reach up to 400 miles on a single tank while electrical and hybrid cars could only travel 20-75 miles on the battery before needing a recharge.

The Impending Municipal Bond Debt Crisis

The Impending Municipal Bond Debt Crisis

Steven Obadiah

Municipal bonds are a key financial instrument in the growth and development of local governments, but they may also be those same governments’ downfall. Whereas business bankruptcies harm investors and debt-holders, municipal bankruptcy can result in heightened taxes, budget cuts, public worker layoffs, and default. For too long, several cities have delayed their debt responsibilities, and cities’ recent (and likely continued) drop in tax revenues has greatly damaged their abilities to continue operating as expected. This article explores the fundamental flaws in municipal debt, how some cities have taken on too much debt, and what we can expect of these cities.

Laissez-Faire Economics during Recession

Laissez-Faire Economics during Recession

Jack Geiger

Throughout modern history, the state traditionally attempts to act as a vehicle to soften the blows during recessions and create a healthier capitalistic society with smaller troughs of its economic cycle. Recent events have yielded unprecedented government action, largely provided by the Federal Reserve. While there are currently endless challenges, it appears that if one were to short the market during this recession, they would be betting against the Fed. The quote “Desperate times call for desperate measures”, originating from the Greek physician Hippocrates, gains momentum during these hectic times. Stances taken by the Federal Reserve certainly qualify as desperate; some projections of a jaw-dropping $10 trillion worth of federal stimulus draw uncertainties as to the necessary quantity. When quantitative easing, newly proposed “yield curve control”, the Paycheck Protection Program, the Main Street Lending Program, $600 added to every unemployment claim, and direct one-time handouts are awarded, questioning the extent of some of these programs in order to avoid future financial damage is justified.

The Smallest Objects in the Solar System

The Smallest Objects in the Solar System

Jaret Prothro

At first glance, our solar system might appear to just consist of the eight known planets, a couple of dwarf planets, and their moons. Trying to comprehend the sheer size of some of the planets and the expansiveness that separate them can be very difficult to do. While these astronomical giants are undoubtedly the most prominent objects in our neighborhood around the sun, they are by no means the only bodies orbiting the sun. The vast spaces in between planets are actually teeming with other astronomical objects, most of which are not as massive as the other solar system titans. In fact, they are minuscule comparatively, and these miniature space objects are the focus of this article.

Will Biden’s Climate Change Plan Ease Concerns Over Coastal Flooding?

Will Biden’s Climate Change Plan Ease Concerns Over Coastal Flooding?

Chris Thomsen

July 14th, in Wilmington, Delaware, amidst the hysteria of the coronavirus pandemic, democratic presidential candidate Joe Biden held an associated press conference. Amongst the discussions of his plans to amend the response to the economic turbulence that the coronavirus has caused for the United States over the past four months, Biden also introduced a new plan. “Here we are with an incredible opportunity, not only to build back to where we were before, but to build better, stronger, more resilient” Biden petitioned. This new portion of his plan, estimated to cost $2 trillion USD, is an effort to put a stop to climate change.

Blacklisted: China’s Social Credit System 

Blacklisted: China’s Social Credit System 

Luke Jachim

United States’ Recent Conflict with China

In the early morning of Wednesday July 22nd, The United States government abruptly announced that the people’s Republic of China was to close its Houston, Texas consulate general and vacate the building within 72 hours. China now maintains one embassy in Washington D.C. and 4 consulates general in Chicago, Los Angeles, New York, and San Francisco. This order came in response to allegations by the Trump administration that the consulate was conducting “massive illegal spying and influence operations” (New York Times). Just one day prior, two Chinese hackers were charged with data-tapping United States-based companies with the aim of discovering Covid-19 vaccine research. In retaliation to their consulates’ forced closure, China seized the United States consulate in Chengdu (CNN). China and the United States closing each others’ consulates heightens the already overflowing tensions concerning data security between the two nations. On November 1 of 2019, the U.S. ordered the launch of a security investigation into the Chinese-owned video-sharing app TikTok. On July 31 of 2020, the Trump administration announced that it is looking into forcing ByteDance Ltd., a Chinese internet company headquartered in Beijing, to sell its ownership stake in the company. Microsoft has been in negotiations with ByteDance to buy TikTok’s US operations. The app has been under scrutiny from Congress due to the possibility that it could pass data onto the authoritarian Chinese Government. On August 1, 2020, President Trump disclosed that the United States is looking into banning the TikTok platform, for its risk to national security. Even though the United States’ approach to China’s data collection policies might seem pre-cautious, China has been experimenting with a radical form of data surveillance on their own population.

Part 1 of 2: Working From Home – A Pandemic Necessity or Future Reality?

Part 1 of 2: Working From Home – A Pandemic Necessity or Future Reality?

Meryem Berrada

Most people never would have imagined a world where office buildings are closed for months and a majority of people are working from home. Remote work has been a rising trend the past two decades, but this year it happened on a major scale out of concern for public safety and circumstance. Could this be the new normal for some industries? In considering the viability of remote work there is a question of whether ethics, productivity, and employee satisfaction can be maintained.

Climate Change and Apple's Carbon Neutral Plan for 2030

Climate Change and Apple's Carbon Neutral Plan for 2030

Ina Patrice Gonzales

Think about how much technology you use in one day. To wake up, you probably use an alarm clock. After you open your eyes, you might reach for your phone and check for any notifications you missed during the night. Since most businesses are working remotely online, you might log into your computer to meet with your boss or take on a team project. To even read this article right now, you must be using some type of electronic device. Whether you realize it or not, technology is deeply integrated into our daily lives. A Nielsen Company report revealed that the average individual in the United States spends 10 hours and 39 minutes looking at a screen. Another Nielsen report showed that the average American might spend 50 hours per week on some type of device, which totals over two whole days!

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