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Apple launched a high-yield savings account in partnership with Goldman Sachs, but its buzzed-about 4.15% APY isn’t lauded by one executive at the investment bank who didn’t hold back when dissing the endeavor.

“We should have never done this f–king thing,” an unnamed Goldman partner told colleagues, per The Wall Street Journal.

It’s unclear who exactly made the comment, though it was reportedly said just after the savings account’s big debut at Goldman’s headquarters in April, when most executives hyped the account for Apple users’ ability to earn 10 times the national average interest rate for savings accounts.

Goldman also agreed to operate Apple credit cards — which offer users up to 3% cash back on their purchases via Daily Cash — and support the tech firm’s “buy now, play later” offering.

And though the iPhone maker’s foray into commercial banking started off as a smash success — pulling in $1 billion in deposits within days of its launch — Apple’s savings account feature has since fallen from grace.

Many Goldman executives agree, according to The Journal, with bankers believing the company’s foray into consumer lending has been a distraction from its core Wall Street business.

The Journal reported in June that Goldman was having talks with American Express to take over its credit-card deal with Apple, though it’s unclear how advanced those conversations were.

Inside the bank, partners blame Goldman’s ill-fated venture on CEO David Solomon, who has been facing heat for months over his sharp-elbowed management style, flopped business moves, and side hustle as a DJ.

When the investment bank reports its earnings on Tuesday, all eyes will no doubt be on its consumer-lending business, which has come to also include a credit card in partnership with General Motors and the acquisition of fintech lender GreenSky last year fore $1.7 billion.

Goldman reportedly plans to sell GreenSky at a steep loss after just one year of owning the platform. Goldman will offload the asset to investment firm Sixth Street for some $500 million, according to The Journal.

The sale is expected to result in a 19-cents-per-share hit to Goldman’s third-quarter results, equal to about $60 million, per the outlet.

Instead of pawning off its Apple partnership, Goldman staffers on the Apple account have floated letting Apple take more ownership of the collaboration, according to The Journal.

One proposed idea, per the outlet, would make Apple the lender for new credit-card spending and issuance while Goldman continues to manage existing loans.

However, Goldman’s senior executives told The Journal that these ideas are just that — ideas — and they haven’t made their way up either company’s corporate ladder.

Goldman so far has tried to lower expenses by tapping Citigroup credit-card veteran Bill Johnson in August, who was tasked with turning the bank’s credit-card partnerships into profitable endeavors.

If Johnson can’t make Apple’s credit-card program trend positively come 2024, Goldman will likely sell, people familiar with the matter told The Journal.

Representatives for Goldman and Apple did not immediately respond to The Post’s request for comment.

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Technology

CNBC Daily Open: A rough and historically atypical November for U.S. stocks

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November 28, 2025

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CNBC Daily Open: A rough and historically atypical November for U.S. stocks

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., Nov. 26, 2025.

Brendan McDermid | Reuters

The U.S. stock market was closed Thursday stateside for Thanksgiving Day and will reopen on Friday until 1 p.m. ET.

With approximately just 3 hours of trading left for the month, major U.S. indexes are looking to end November in the red, based on CNBC calculations.

As of Wednesday’s close, the S&P 500 was down 0.4% month to date, the Dow Jones Industrial Average 0.29% lower during the same period and the Nasdaq Composite retreating 2.15%, vastly underperforming its siblings as technology stocks stumbled in November.

Unless there’s a huge jump in stocks during the shortened trading session on Friday stateside — which might not be an unequivocally positive move since it would raise more questions about the market’s sustainability — that means the indexes are on track to snap their winning streaks. The S&P 500 and Dow Jones Industrial Average have risen in the past six months, and the Nasdaq Composite seven.

It will also mark a divergence from the historical norm. The S&P 500 has advanced an average of 1.8% in November since 1950, according to the Stock Trader’s Almanac. And in the year following a U.S. presidential election, it typically rises 1.6%.

But it’s not been a typical post-presidential election year. It’s hard to see the market, in the coming months, or even years, moving according to any historical trajectory.

What you need to know today

U.S. futures are mostly flat Thursday night. The stock market was closed during the day for the Thanksgiving break in the U.S. Europe’s Stoxx 600 inched up 0.14%, rebounding from earlier losses.

Alibaba’s AI glasses go on sale. The Quark AI Glasses come in two variants that cost 1,899 Chinese yuan ($268) and 3,799 yuan, less than Meta’s $799 Meta Ray-Ban Display glasses, signaling Alibaba’s competitive entry into the consumer AI market.

Apple files a case against India’s antitrust body. The Competition Commission of India is investigating complaints about Apple’s in-app purchase policies, and could fine the company based on its global turnover — which means a potential $38 billion penalty.

Russia is ready for ‘serious’ discussions for peace. The U.S.-led framework “can be the basis for future agreements,” Russian President Vladimir Putin said Thursday, as translated by Reuters. He added that the U.S. seemed to take Moscow’s position “into account.”

[PRO] Bank of America doesn’t see much upside for 2026. The S&P 500 should rise by a single-digit percentage point, a slowdown from recent years because one supporting factor will be shrinking, said a strategist from the bank.

And finally…

An operator works at the data centre of French company OVHcloud in Roubaix, northern France on April 3, 2025.

Sameer Al-doumy | Afp | Getty Images

Europe’s slow and steady approach to AI could be its edge

It’s unlikely that Europe will lead in building facilities for AI hyperscalers or for the training of AI — that race is considered all but won — but the general consensus is that it could excel in smaller, cloud-focused and connectivity-style facilities.

Europe has “a lot of constraints, but, actually, the more difficult something is to replicate, the more long-term value what you’ve got has,” said Seb Dooley, senior fund manager at Principal Asset Management.

— Tasmin Lockwood

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Sports

Drinkwitz agrees to new 6-year deal with Missouri

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November 28, 2025

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Drinkwitz agrees to new 6-year deal with Missouri

Missouri has agreed to a new six-year contract with coach Eliah Drinkwitz with an average annual compensation of $10.75 million, the school announced Thursday.

Drinkwitz indicated the deal was imminent on social media Thursday morning, thanking the school president, Mun Choi, board of curators, athletic director Laird Veatch, the boosters and fans. “Why stop now!!” he tweeted.

“My family and I believe deeply in the vision and leadership from our administration and are incredibly happy to continue calling Columbia our home,” Drinkwitz said in a statement. “I’m grateful for the unwavering support of President Mun Choi, the Board of Curators, led by Chair Todd Graves and incoming Vice Chair Bob Blitz, along with our athletics director Laird Veatch. We’re also incredibly thankful for the support of our generous donors and NIL partners. I’m committed to continuing our work to build Mizzou into a championship program.”

The move is an aggressive one by Missouri to keep Drinkwitz near the top of the country’s highest-paid coaches, as his base salary will increase to $10.25 million in 2026, which is up from $9 million in 2025.

Drinkwitz received interest from several of the top jobs on the carousel, and the move by the school to agree to a new deal with him is reflective of the trend seen at places like Indiana, SMU and Nebraska in an effort to keep their coaches.

Drinkwitz led Missouri to back-to-back double-digit win seasons in 2023 and 2024, and the program has qualified for its sixth straight bowl game. The Tigers rose to as high as No. 8 in the Associated Press poll in 2023 and No. 6 in 2024. This year, Missouri climbed to No. 14.

During his tenure, Missouri has wins over Ohio State, Iowa, Oklahoma, Tennessee, Florida and LSU. He is 45-28 in six seasons.

Missouri is 7-4, with all four losses coming to teams ranked in the Top 10 at the time.

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Entertainment

Sally Rooney tells court new books may not be published in UK due to Palestine Action ban

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November 28, 2025

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Sally Rooney tells court new books may not be published in UK due to Palestine Action ban

Irish author Sally Rooney has told the High Court she may not be able to publish new books in the UK, and may have to withdraw previous titles from sale, because of the ban on Palestine Action.

The group’s co-founder Huda Ammori is taking legal action against the Home Office over the decision to proscribe Palestine Action under anti-terror laws in July.

The ban made being a member of, or supporting, Palestine Action a criminal offence punishable by up to 14 years in prison.

Rooney was in August warned that she risked committing a terrorist offence after saying she would donate earnings from her books, and the TV adaptations of Normal People and Conversations With Friends, to support Palestine Action.

In a witness statement made public on Thursday, Rooney said the producer of the BBC dramas said they had been advised that they could not send money to her agent if the funds could be used to fund the group, as that would be a crime under anti-terror laws.

Rooney added that it was “unclear” whether any UK company can pay her, stating that if she is prevented from profiting from her work, her income would be “enormously restricted”.

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Why was Palestine Action proscribed?

She added: “If I were to write another screenplay, television show or similar creative work, I would not be able to have it produced or distributed by a company based in England and Wales without, expressly or tacitly, accepting that I would not be paid.”

Rooney described how the publication of her books is based on royalties on sales, and that non-payment of royalties would mean she can terminate her contract.

“If, therefore, Faber and Faber Limited are legally prohibited from paying me the royalties I am owed, my existing works may have to be withdrawn from sale and would therefore no longer be available to readers in the UK,” Rooney added, saying this would be “a truly extreme incursion by the state into the realm of artistic expression”.

Rooney added that it is “almost certain” that she cannot publish or produce new work in the UK while the Palestine Action ban remains in force.

She said: “If Palestine Action is still proscribed by the time my next book is due for publication, then that book will be available to readers all over the world and in dozens of languages, but will be unavailable to readers in the United Kingdom simply because no one will be permitted to publish it, unless I am content to give it away for free.”

Sir James Eadie KC, barrister for the Home Office, said in a written submission that the ban’s aim is “stifling organisations concerned in terrorism and for members of the public to face criminal liability for joining or supporting such organisations”.

“That serves to ensure proscribed organisations are deprived of the oxygen of publicity as well as both vocal and financial support,” he continued.

The High Court hearing is due to conclude on 2 December, with a decision expected in writing at a later date.

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