This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.bbc.co.uk/news/business-33550869

The article has changed 3 times. There is an RSS feed of changes available.

Version 0 Version 1
Goldman Sachs quarterly profits fall to $916m Goldman Sachs quarterly profits fall to $916m
(about 1 hour later)
Investment bank Goldman Sachs has reported lower second-quarter profits, due to weak bond trading and increased legal costs.Investment bank Goldman Sachs has reported lower second-quarter profits, due to weak bond trading and increased legal costs.
In the three months ending 30 June, its net income was $916m (£588m), compared with $1.95bn the previous year.In the three months ending 30 June, its net income was $916m (£588m), compared with $1.95bn the previous year.
The Wall Street giant reported $1.45bn in legal costs, including housing repossessions and regulatory matters, up from $284m in 2014.The Wall Street giant reported $1.45bn in legal costs, including housing repossessions and regulatory matters, up from $284m in 2014.
Its net revenue also fell to $9.07bn from from $9.12bn the previous year.Its net revenue also fell to $9.07bn from from $9.12bn the previous year.
Chief executive Lloyd Blankfein said: "While uncertainty weighed on investors' level of conviction, many of our businesses continued to benefit from generally improving economic conditions and healthy client activity."Chief executive Lloyd Blankfein said: "While uncertainty weighed on investors' level of conviction, many of our businesses continued to benefit from generally improving economic conditions and healthy client activity."
In contrast, Citigroup reported strong profits for the second quarter.
Net income rose to $4.85bn, its highest quarterly profits for eight years. That was up from $181m the previous year when the bank was hit by a $3.8bn legal charge.