Profits at Goldman Sachs descend 40% with other investment banks badly hit as unruffled returns to the marketsCity bond traders have keep the champagne on ice. They had a friendly run. For some it lasted nearly a year. But it’s over now and the “new normal” of low trading volumes and weak profits is reasserting itself.
On Wall Street,Goldman Sachs took the biggest hit. This week the firm reported profits had plunged 40% in the second quarter on its bond, currency and commodities trading desks.
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Source: theguardian.com