Tag: Goldman Sachs

Euro debt crisis impacts on Goldman Sachs Q3 results

Euro debt crisis impacts on Goldman Sachs Q3 results

US banking giant Goldman Sachs has today reported a fall in third quarter profits. Goldman Sachs, which is the US’ largest investment bank, made a net loss of $393 million (£250 million) for the third quarter compared with profits of $1.9 billion a year earlier. The bank said trading was “significantly impacted” by the euro […]

October 18, 2011 More
Goldman Sachs profits down 21%

Goldman Sachs profits down 21%

Goldman Sachs, which is the fifth largest US bank, today reported first quarter profits were 21% lower compared with a year ago. The banking giant said net income dropped to $2.74 billion (£1.7 billion) from $3.46 billion a year earlier. However, the results were better than analysts expected. In other news today, Bank of New […]

April 19, 2011 More
Morgan Stanley reports surge in Q4 profits

Morgan Stanley reports surge in Q4 profits

US banking giant Morgan Stanley has today announced fourth quarter profits surged by 60% – in line with forecasts. The Wall Street bank said net profit came in at $600 million (£375 million) for the final three months of 2010, against a profit of $376 million a year ago. Shares in the bank were up […]

January 20, 2011 More
Goldman shares fall on Q4 profits announcement

Goldman shares fall on Q4 profits announcement

US banking giant Goldman Sachs has today reported a $2.39 billion (£1.49 billion) profit for the fourth quarter, 53% lower compared with a year ago. However, the figures were roughly in line with expectations but shares still fell 3.1% to $169.22 in pre-market trading. The fourth quarter figures come at the end of a difficult […]

January 19, 2011 More
Bank of America unveils Q3 losses

Bank of America unveils Q3 losses

Bank of America, which the US’ largest bank, has today unveiled a net loss of $7.3 billion, or 77 cents per share, compared with a loss of $2.2 billion, or 26 cents per share, a year earlier. The banking giant said it had a one-off impairment charge of $10.4 billion for the July to September […]

October 19, 2010 More
Goldman Sachs announce fall in Q3 profits

Goldman Sachs announce fall in Q3 profits

Banking giant Goldman Sachs today reported a fall in third quarter profits to $1.9 billion, or $2.98 per share, compared with $3.19 billion, or $5.25 per share, a year earlier. However, despite the fall, the results still beat expectations of $2.32 per share. The New York-based financial institution said net revenues for the quarter was […]

UK Watchdog fines Goldman Sachs £20m

UK Watchdog fines Goldman Sachs £20m

Investment banking giant Goldman Sachs has been fined £20 million ($31 million) by the UK’s Financial Services Authority (FSA). The fine comes after Goldman failed to inform the FSA it was under investigation for fraud by its US counterpart. The FSA and Goldman Sachs have declined to comment but according to the BBC, the multi-million […]

September 9, 2010 More
Goldman Sachs reports sharp fall in profits

Goldman Sachs reports sharp fall in profits

US banking giant Goldman Sachs has today announced profits dived 82% in the second quarter to $453 million. The figures represented the worst quarter since the height of the financial crisis – almost two years ago and were hit by the British bonus levy and a US fraud settlement. Commenting, Lloyd Blankfein chief executive, said: […]

July 20, 2010 More
Goldman Sachs fined record $550m

Goldman Sachs fined record $550m

The Securities and Exchange Commission (SEC) has fined US banking giant Goldman Sachs $550 million (£356 million). The fine, which represents the largest against a financial company in the SEC’s history, comes as Goldman agreed to settle civil fraud charges over how it marketed a sub-prime mortgage product. The UK’s Royal Bank of Scotland (RBS), […]

July 16, 2010 More
US banks under investigation

US banks under investigation

Eight Wall Street banks are facing an investigation following allegations that they provided misleading information to several ratings agencies in order to gain a better rating for mortgage securities. New York Attorney General, Andrew Cuomo, has launched the investigation and the banks under scrutiny are Goldman Sachs, Morgan Stanley, UBS AG, Citigroup, Credit Suisse, Deutsche […]

May 14, 2010 More
Bankers shudder at Goldman Sachs’ fraud charge

Bankers shudder at Goldman Sachs’ fraud charge

The financial world was in shock over the weekend following the decision of the US Securities and Exchange Commission (SEC) to charge Goldman Sachs and one of its vice presidents with fraud. The Wall Street bank allegedly sold investors down the river by “misstating and omitting key facts” about a financial product tied to US […]

April 19, 2010 More
Goldman Sachs London employees capping pay

Goldman Sachs London employees capping pay

Around 100 senior employees at Goldman Sachs in London are capping their 2009 pay and bonuses at £1 million each. The move comes as part of the Chancellor’s super tax, which was introduced to claw back some of the bailout funds used to rescue the banking industry. According to the BBC, the tax represents a […]

January 25, 2010 More
Goldman Sachs results beat expectations

Goldman Sachs results beat expectations

Wall Street bank Goldman Sachs has today reported its fourth quarter results with net profits at $4.95 billion (£3.06 billion) compared with a loss of $2.12 billion in the same period a year earlier. For the 2009 year, the bank made a net profit of $13.39 billion, up from $2.32 billion in the previous year. […]

January 21, 2010 More
Goldman Sachs and Citigroup announce results

Goldman Sachs and Citigroup announce results

There has been mixed news today across the Atlantic after banking giant Goldman Sachs exceeded analysts expectations while Citigroup posted a quarterly loss. Goldman Sachs said net earnings for the third quarter were $3.19 billion (£1.96 billion), compared with $845 million in the same period a year ago (prior to the collapse of Lehman Brothers). […]

October 15, 2009 More
Citigroup & Bank of America exceed market expectations

Citigroup & Bank of America exceed market expectations

Citigroup and Bank of America have surprised analysts by reporting better than expected second-quarter results. Results from both banks have followed hot on the heels of strong results from fellow US Banking giants, JPMorgan Chase and Goldman Sachs. Citigroup posted a $4.3 billion second quarter profit due to gains on its Smith Barney deal. However, […]

July 17, 2009 More
JPMorgan Chase becomes second US bank to report rise in profits

JPMorgan Chase becomes second US bank to report rise in profits

JPMorgan Chase has today announced a surge in profits for the April to June period. The bank said net profit for the quarter totalled $2.72 billion (£1.6 billion) – an increase of 36% compared with the same period a year ago. Meanwhile, the bank said revenues at increased 41% to a record $27.7 billion. The […]

July 16, 2009 More
Goldman surprises analysts with strong Q2 performance

Goldman surprises analysts with strong Q2 performance

Investment bank Goldman Sachs has again exceeded analysts expectations by reporting a net profit of $3.4 billion (£2.1 billion) for the April-June period of this year. The bank, which had to be bailed out by the US Government, is currently under fire for plans to pay out staff bonuses averaging $226,000 per employee, totalling $6.65 […]

July 14, 2009 More
Bank of America Q1 profits beat expectations

Bank of America Q1 profits beat expectations

The run of good luck is continuing among US banks as Bank of America is the latest to exceed analysts expectations after it made a net profit of $4.24 billion for the three months ending 31 March – almost triple that of a year ago of $1.21 billion. The bank, which is the largest in […]

April 20, 2009 More
More good news for US banks as Citigroup reports profit of $1.6bn

More good news for US banks as Citigroup reports profit of $1.6bn

Citigroup has today boosted the stock market by announcing its first quarterly net profit in almost two years. The bank made a profit of $1.6 billion (£1.1 billion) for the first three months of 2009, compared to a loss of $5.1 billion in the last three months of last year, while revenues rose 99% to […]

April 17, 2009 More
JP Morgan exceeds expectations by reporting $2bn profit

JP Morgan exceeds expectations by reporting $2bn profit

JP Morgan Chase have followed fellow investment bank Goldman Sachs by beating analysts’ expectations for its first quarter results. JP Morgan said profits for the first three months of 2009 were $2.1 billion (£1.41 billion), resulting in a rise of 2.6% in its share price today on Wall Street. The US bank is one of […]

April 16, 2009 More